Deals of the day-Mergers and acquisitions

Alumina

26/02/2024 21:00

(Adds R1 RCM, Edison, Kroger and Charter Communications;
Updates Broadcom)
       Feb 26 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 2100 GMT, on Monday:
    
    ** Charter Communications  CHTR.O  is weighing a takeover of
broadband service provider Altice USA  ATUS.N , Bloomberg News
reported, according to people familiar with the matter.
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    ** The U.S. Federal Trade Commission and eight states said
they are suing to block supermarket chain Kroger's  KR.N  $24.6
billion deal to buy smaller rival Albertsons  ACI.N , saying it
would boost grocery prices for millions of Americans.
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    ** Energy group Edison  EDNn.MI  said it started exclusive
talks with gas grid operator Snam  SRG.MI  over the sale of its
natural gas storage assets in Italy.
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    ** A group of R1 RCM's  RCM.O  investors is considering
taking the healthcare services provider private, according to a
regulatory filing, sending shares of the company up 30%.
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    ** Chipmaker Broadcom  AVGO.O  is selling a unit that allows
users to access desktops and applications from any device to
private-equity firm KKR  KKR.N  in a $4-billion deal to
streamline its portfolio after the $69-billion purchase of
VMware last year.
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    ** Healthcare technology firm Agiliti  AGTI.N  said it had
agreed to be taken private by THL Partners in a deal valuing it
at $2.5 billion.
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    ** French shipping firm CMA CGM's unit CEVA Logistics 
raised its offer to buy Wincanton  WIN.L  to about 605 million
pounds ($766 million) hoping to fend off a rival offer for the
British logistics firm.
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    ** Hong Kong-based hedge fund Oasis Management has filed an
injunction to block NEC's  6701.T  sale of its stake in its
listed unit Japan Aviation Electronics (JAE)  6807.T , saying
the sale would inflict damage on its shareholders.
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    ** Indonesia's mining industry holding company, MIND ID,
agreed  to acquire a 14% stake in Vale Indonesia  INCO.JK  from
Vale Canada and Japan's Sumitomo Metal Mining  5713.T , to
become the top shareholder at one of the country's largest
nickel miners.
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    ** Britain's Bunzl  BNZL.L  said  it had acquired catering
distributor Nisbets in the UK and Finland-based Pamark but
warned its operating margin would dip slightly from 2023 as
inflation falls and after a slower start to the year in North
America.
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    ** German automotive supplier Schaeffler  SHA_p.DE  and
Vitesco  VTSCn.DE  took a further step towards merging the
companies with an agreement to exchange 11.4 Schaeffler shares
per Vitesco Technologies share, they said. 
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    ** French investor Xavier Niel and his Iliad telecoms group
have agreed to buy a 19.8% stake in Swedish telecoms operator
Tele2  TEL2b.ST  for 13 billion crowns ($1.26 billion),
investment company Kinnevik  KINVb.ST  said in a statement.
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    ** French construction materials company Saint-Gobain
 SGOB.PA  said it had signed a definitive agreement to buy
Australian peer CSR Limited  CSR.AX  in a deal with an
enterprise value of A$4.5 billion ($2.95 billion).
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    ** U.S. aluminium producer Alcoa  AA.N   made a $2.2 billion
all-stock buyout proposal for its Australian joint venture
partner Alumina  AWC.AX , in a deal that would give it greater
upstream exposure and simplify its operations.
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    ** Fintech giant Ant Group  688688.SS  has outbid
billionaire Ken Griffin's Citadel Securities for Credit Suisse's
investment bank venture in China, Bloomberg News reported on
Sunday, adding it was unclear whether the Chinese company's
offer would succeed.
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    ** China-based Yintai Gold  000975.SZ  said it will acquire
Canadian gold exploration firm Osino Resources  OSI.V  in an all
cash deal for C$368 million ($272.53 million).
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 (Compiled by Rajarshi Roy and Puyaan Singh in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))