Deals of the day-Mergers and acquisitions

Azure Minerals

27/10/2023 11:09

Oct 27 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1000 GMT on Friday:

    ** Portugal's largest utility EDP  EDP.LS  said it had
agreed to sell 50% of its unit Abono, which has two coal-fired
power plants in northern Spain, and plans to convert one of the
plants to be fired with gas until mid-2025 and close the other.
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    ** Australian billionaire Gina Rinehart-controlled Hancock
Prospecting has taken an 18% stake in Azure Minerals  AZS.AX ,
it said , potentially hindering Chile's SQM  SQMA.SN  to take
full control of the lithium developer.
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    ** Western Digital  WDC.O  and Japan's Kioxia Holdings have
called off merger talks after failing to agree on terms, two
people said , in the latest stumble for an on-again-off-again
deal to create one of the world's largest memory chip makers.
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    ** United Parcel Service  UPS.N  on Thursday said it is
spending more than $1 billion this quarter to buy two companies
it hopes will bolster profit and volumes amid bare-knuckled
market share battles with delivery rivals like FedEx  FDX.N .
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 (Compiled by Rajarshi Roy in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))