Deals of the day-Mergers and acquisitions

Bajaj Finserv

05/06/2025 20:58

Adds: Plus Automation, Unite Group, Ryan Specialty, LyondellBasell

June 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 20.00 GMT on Thursday:

** Self-driving truck startup Plus Automation will go public in the United States through a $1.2 billion merger with special purpose acquisition company Churchill Capital Corp IX CCIX.O, the companies said on Thursday.

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** British student accommodation developer Unite Group UTG.L has proposed to buy smaller rival Empiric Student Property ESP.L for about 719 million pounds ($976 million), the companies said on Thursday, the latest in a string of deal-making in the UK.

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** Ryan Specialty has signed a definitive agreement to acquire the business of JM Wilson Corporation, a Michigan-based MGA and surplus lines broker.

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** Chemical maker LyondellBasell LYB.N said on Thursday it is in exclusive talks with Munich-based investment firm AEQUITA for the sale of certain olefin and polyolefin assets in Europe.

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** Australian MGA ATC Insurance Solutions has agreed to acquire fellow BP Marsh investee company Sterling Insurance, in a deal that increases the specialist UK insurance investor's stake in ATC to 27%.

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** Plus Automation will go public in the U.S. through a merger with a blank-check firm in a deal that values the self-driving truck startup at $1.2 billion, the companies said.

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** Vermilion Energy VET.TO will sell its United States assets for C$120 million ($87.88 million), the Canadian gas producer said, using the proceeds to repay debt and completing its exit from the U.S. market.

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** Monarch E&S Insurance Services has acquired MGA and wholesale broker Market Finders, with the addition of the Albuquerque, New Mexico-based firm expanding its reach across the Southwest.

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** The founding firms of India's Bajaj Finserv  will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported, citing sources.

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** Empiric Student Property  said it has received a buyout proposal worth 710.6 million pounds ($964.8 million) from Unite Group , sending shares of the British real estate investment trust up more than 6%.

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** Kimberly-Clark  struck a deal with Brazilian pulp maker Suzano  to sell a majority stake in its international tissue business, valuing the business at about $3.4 billion, the Kleenex tissue maker said.

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** South Korea's Hanwha Systems <272210.KS> said it was selling its entire 5.4% stake in Eutelsat  for about 78 million euros ($85 million), as the Franco-British satellite operator seeks new investors. nL5N3S808P

** Chemical maker LyondellBasell LYB.N said it is in exclusive talks with Munich-based investment firm AEQUITA for the sale of certain olefin and polyolefin assets in Europe. nL3N3S80MW

** British outsourcer Mitie Group  will acquire smaller peer Marlowe  for about 366 million pounds ($496 million) in a cash-and-stock deal, the companies said, sending the latter's shares up nearly 8%. nL3N3S80FM

** Prada <1913.F> said it acquired a 10% stake in Italian leather group Rino Mastrotto, as the luxury group aims to tighten its grip over the production process.nL5N3S807Y

 (Compiled by Rajarshi Roy and Ateev Bhandari and Katha Kalia in Bengaluru)

 ((ateev.bhandari@thomsonreuters.com))