Deals of the day-Mergers and acquisitions

Apartment Income REIT

08/04/2024 14:36

(Adds: Model N, Blackstone, Tradeweb Markets, Ducommun, Novo
Nordisk  Updates: EQT)
       April 8 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on Monday:

        ** Healthcare IT firm Model N  MODN.N  said  it has
entered into an agreement to be taken private by investment firm
Vista Equity Partners for about $1.25 billion, sending its
shares up 9.3% at $29.60 in premarket trading.
  
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        ** Asset manager Blackstone  BX.N  said  it would take
private rental housing firm Apartment Income REIT  AIRC.N ,
known as AIR Communities, for $10 billion in cash, including
debt.
  
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        ** Rates and credit trading platform Tradeweb Markets
 TW.O  will buy investment technology firm Institutional Cash
Distributors (ICD) for $785 million, it said, as it seeks to
boost its appeal to corporate treasury professionals.
  
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        ** Aerospace and defense supplier Ducommun  DCO.N  said 
it had received an unsolicited, non-binding takeover interest
from private investment firm Albion River for $60 per share in
cash.
  
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        ** EQT  EQTAB.ST  has agreed to acquire a majority stake
in Spain's Universidad Europea from private equity firm Permira,
in a deal that sources said valued the higher education group at
more than 2 billion euros ($2.2 billion) including debt.
  
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        ** The parent of Wegovy producer Novo Nordisk  NOVOb.CO 
has refiled an application to the U.S. Federal Trade Commission
(FTC) for approval of a $16.5 billion deal to buy manufacturing
subcontractor Catalent  CTLT.N , a spokesperson said .
  
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    ** Abu Dhabi investor Lunate and Saudi conglomerate Olayan
Group have agreed to acquire a 49% stake in ICD Brookfield
Place, a major commercial property in Dubai's financial centre.
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    ** French media group Vivendi's  VIV.PA  Canal+ made an
all-cash mandatory offer  to buy all the shares of South African
broadcaster MultiChoice  MCGJ.J  it does not already own for 35
billion rand ($1.9 billion), both companies said.
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    ** UBS  UBSG.S  said  its Japanese wealth management joint
venture with SuMi TRUST Wealth Management Co, will acquire
Credit Suisse's wealth management business in Japan following
the Swiss bank's absorption of its stricken rival in 2023.
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    ** APM Human Services'  APM.AX  top shareholder, Madison
Dearborn Partners,  offered to buy the 71% of the Australian
employment services firm it does not own for A$910.4 million
($599 million), an offer the company called 'disappointing'.
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    ** Australia's Westgold Resources  WGX.AX  said  it had
agreed to acquire Toronto-listed Karora Resources  KRR.TO  in a
cash-and-stock deal worth about A$1.23 billion ($808.36
million), seeking its gold assets in Western Australia.
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    ** Australian glove maker Ansell Ltd  ANN.AX  said  it will
buy the personal protective equipment unit of U.S.-based
Kimberly-Clark  KMB.N  for $640 million, and expects to complete
the acquisition in the first quarter of financial year 2025.
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 (Compiled by Rajarshi Roy and Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))