Deals of the day-Mergers and acquisitions

Air Lease

02/09/2025 15:16

Adds: Telus, Plains All American Pipeline, Elliott Management, Gallagher Re, Sumitomo Corp, Corient, Dow

September 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1425 GMT on Tuesday:

** Elliott Management disclosed a $4 billion stake in PepsiCo PEP.O, launching a campaign to restore growth and boost the beverage maker's share price.

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** Telus  said it would buy the remaining shares in its digital services unit in a $539 million cash-and-stock deal, as the Canadian telecom company looks to expand its artificial intelligence capabilities.

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** Plains All American Pipeline  and Plains GP Holdings  said they have agreed to buy a 55% stake in pipeline operator EPIC Crude Holdings from units of Diamondback Energy  and Kinetik Holdings for $1.57 billion, including debt.

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** Gallagher Re, the reinsurance broking arm of Arthur J. Gallagher, has agreed to acquire Steadfast Re, the Australian reinsurance broker launched as a joint venture between industry veteran Simon Cloney and Steadfast Group.

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**  A group of investors led by Sumitomo Corp <8053.T> and SMBC Aviation Capital said that it would acquire Air Lease Corp  for a $7.4 billion cash deal, in a bid to create one of the world's largest aircraft lessors.

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** Corient, one of the largest U.S. wealth advisory firms, said it would acquire Stonehage Fleming and Stanhope Capital Group, bringing more than $214 billion in client assets under its umbrella and expanding its presence into Europe, the Middle East and Africa.

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** Dow  said it has sold an additional stake in its infrastructure venture to its partner Macquarie Asset Management for $540 million as the chemical maker looks to focus more on its core business.

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** Italian lender Monte dei Paschi di Siena  raised its bid for Mediobanca  by adding a 750 million euro ($878 million) cash component to its all-share proposal, in a move aimed at gaining full control of the merchant bank.

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** British lender Shawbrook said it had reached an agreement to buy specialist lender ThinCats for an undisclosed sum, as it looks to bolster its small business lending arm.

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** Israeli energy investor Delek Group  and Italy's oil and gas explorer Eni Spa  will sell about 2% of their stake in UK-listed Ithaca Energy , a bookrunner said on Monday.

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** Chinese battery maker Contemporary Amperex Technology (CATL) <300750.SZ> is selling its 20.6% stake in subcontracted Finnish car maker Valmet Automotive to the Finnish state and another shareholder, Finland's government said on Monday, amid low electric car sales in Europe.

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** Private equity firm Bain Capital announced on Monday that it has penned a definitive agreement to acquire UK broker consolidator Jensten Group.

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** Louis Dreyfus Company has acquired grains and oilseeds processing, storage and trading activities in Hungary and Poland from rival agricultural commodity merchant Bunge Global , LDC said on Monday.

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** London-based buyout firm CapVest Partners is to acquire a majority stake in Stada Arzneimittel, the German generic drugmaker said on Monday, in what is set to be one of the biggest takeover deals in Europe this year.

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** Stada Arzneimittel said on Monday that buyout firm CapVest Partners had agreed with its owners Bain Capital and Cinven to acquire a majority stake in the German generic drugmaker.

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** IAG said on Monday that it has completed the acquisition of The Royal Automobile Club of Queensland’s (RACQ) insurance underwriting business for A$855 million ($559 million).

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 (Compiled by Rajarshi Roy and Ateev Bhandari in Bengaluru)

 ((Ateev.Bhandari@thomsonreuters.com))