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Deals of the day-Mergers and acquisitions

Published 2021-05-03, 09:00 a/m
© Reuters.

(Adds InVivo, AEye Inc, Green Thumb Industries, CDP, Meredith Corp; updates EQT, Verizon)

May 3 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Cooperative group InVivo has agreed to acquire family-owned Soufflet in a deal potentially worth 2.3 billion euros ($2.76 billion), as the French rivals look to create of one of Europe's biggest agricultural businesses. Italy is considering extending to mid-2022 tax breaks which are expected to spur tie-ups in its fragmented banking sector, while also boosting the size of the incentives, a draft decree seen by Reuters. AEye Inc and a blank-check firm backed by financial services company Cantor Fitzgerald on Monday amended their merger agreement, valuing the lidar sensor maker at $1.52 billion, citing valuation changes of publicly traded lidar companies. Green Thumb Industries Inc GTII.CD said it had agreed to buy privately owned Dharma Pharmaceuticals in Virginia, expanding the second-largest U.S. pot producer's footprint to 13 states. A deal which will give Italian state lender CDP a majority stake in Open Fiber should ease talks over a long-delayed merger of the broadband firm's network assets with those of Telecom Italia TLIT.MI , the CEO of the Italian phone group said. Meredith Corp MDP.N said it plans to sell its television stations business to broadcaster Gray Television Inc GTN.N for an enterprise value of $2.7 billion, and spin off its magazines division. U.S. energy company Southern (NYSE:SO) Co SO.N said it agreed to sell its Sequent Energy Management wholesale gas trading business, which made about $200 million selling natural gas during the Texas freeze in February. Canadian Pacific Railway Ltd CP.TO said it filed a formal objection with a U.S. regulator stating Canadian National Railway's CNR.TO near $30 billion rival bid for Kansas City Southern (NYSE:KSU) KSU.N does not qualify to be exempted from tougher merger rules. Sweden's EQT is still interested in buying Dutch telecom KPN, two sources familiar with the matter said on Monday, even as shares in the company slid after it rejected the private equity firm's takeover proposal. Private-equity firm KKR KKR.N acquired New Zealand-based Natural Pet Food Group for an undisclosed amount, the companies announced. J. Safra Sarasin Group has acquired Bank of Montreal's BMO.TO private banking business in Hong Kong and Singapore, the Swiss group said, giving no financial terms for the deal announced in January. Brazil's Banco BTG Pactual BPAC3.SA has acquired broker Fator SA as part of efforts to expand its investment advisory business, the investment bank said in a securities filing without disclosing financial terms. Roivant Sciences said it would go public through a merger with blank-check firm Montes Archimedes Acquisition Corp MAAC.O in a deal that values the biotech company at $7.3 billion. Brazilian cashback provider Meliuz SA CASH3.SA is buying payments company Acesso in an all-share deal worth 324.5 million reais ($60 million), it said in a securities filing. Verizon Communications Inc (NYSE:VZ) VZ.N is getting rid of its media businesses that include iconic brands Yahoo (NASDAQ:AABA) and AOL for $5 billion, ending an expensive and unsuccessful run in the media and advertising world.

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