Deals of the day-Mergers and acquisitions

Avangrid

17/05/2024 20:47

(Adds Bank of America; updates Apollo, Iberdrola)
       May 17 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1945 GMT on Friday:

        ** Spanish utility Iberdrola  IBE.MC  has agreed to
acquire the remaining 18.4% stake in Avangrid  AGR.N  that it
does not already own, the U.S. subsidiary said, in an all-cash
deal worth about $2.6 billion.  urn:newsml:reuters.com:*:nL1N3HK19E
  
        
  
        ** US fund Apollo  APO.N  has withdrawn its offer to buy
Applus  APPS.MC , it said in a filing to Spain's stock market
regulator CNMV, ending a months-long bidding war for the Spanish
industrial testing firm.  urn:newsml:reuters.com:*:nL8N3HK3OV
  
        
  
        ** Washington Federal Bank agreed to sell a portfolio of
commercial multi-family real estate loans to Bank of America
 BAC.N  for about $2.9 billion, helping the regional lender cut
its exposure to the troubled sector.  urn:newsml:reuters.com:*:nL4N3HK337
  
    
        ** Brazilian oil company 3R Petroleum  RRRP3.SA  and
fellow energy firm Enauta  ENAT3.SA  have reached an agreement
to merge in an all-stock deal, they said.  urn:newsml:reuters.com:*:nL1N3HK119

    ** BHP Group  BHP.AX  would need to boost its latest offer
around 30% to reflect fair value for Anglo American  AAL.L  and
its key copper assets, JPMorgan analysts said in a note.
 urn:newsml:reuters.com:*:nL8N3HK28C
    
    ** U.S. fund General Atlantic and Canadian pension fund
CPPIB are readying a 3 billion euro ($3.26 billion) offer to buy
Spain's largest online real estate company Idealista, Spanish
newspaper Expansion reported , citing unidentified market
sources.  urn:newsml:reuters.com:*:nL8N3HK1K0
    
    ** ABB  ABBN.S  has agreed to buy the wiring accessories
business of German rival Siemens  SIEGn.DE  in China, the Swiss
engineering group said.  urn:newsml:reuters.com:*:nL8N3HK0PP
    
    ** Hess  HES.N  shareholders should vote in favor of
Chevron's  CVX.N  $53 billion all-stock offer at the oil
company's May 28 special meeting, proxy adviser Glass Lewis said
on Thursday.  urn:newsml:reuters.com:*:nL1N3HK01M
    
    ** Philippine conglomerate Ayala Corp  AC.PS  sold its
entire stake in utility firm Manila Water Company (MWC)  MWC.PS 
to top shareholder Trident Water Company for a gross
consideration of around 14.5 billion pesos ($251.87
million). urn:newsml:reuters.com:*:nL4N3HK0DE
    
    ** Brazilian hospital chain Rede D'Or  RDOR3.SA  said on
Thursday it signed a deal to sell its controlling stake in the
insurance firm D'Or Consultoria to MDS.  urn:newsml:reuters.com:*:nS0N3HC03X
    
    ** Oil and gas producer Crescent Energy  CRGY.N  has agreed
to buy rival SilverBow Resources  SBOW.N  for $2.1 billion, a
deal which would create the second-largest operator in the Eagle
Ford basin in south Texas.  urn:newsml:reuters.com:*:nL4N3HJ2IP

 (Compiled by Rajarshi Roy, Abhinav Parmar and Anuja Bharat
Mistry in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))