Deals of the day-Mergers and acquisitions

Cadence Design Systems

05/09/2025 10:40

September 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Friday:

** Spanish bank BBVA  said its 14.9-billion-euro ($17.44 billion) tender offer for the shares of smaller rival Sabadell  will start on September 8.

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** Activist investor Starboard Value owns an 8% stake in BILL Holdings  and may run a boardroom challenge to push for changes at the financial automation software company that serves small and midsize businesses around the world, two sources familiar with the matter told Reuters.

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**  E.ON  will sell its Czech subsidiary Gas Distribution s.r.o to GasNet, a subsidiary of Czech electricity company CEZ Group , the German utility said .

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** Mexican lender Banorte  will sell its digital bank unit Bineo to financial technology firm Klar, it said in a filing on Thursday, giving the young startup access to its much-coveted banking license.

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** Cadence Design  said on Thursday it will buy the design and engineering business of Stockholm-based Hexagon AB  for 2.7 billion euros ($3.16 billion), to expand its customer base and scale up its product portfolio.

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 (Compiled by Rajarshi Roy and Ateev Bhandari in Bengaluru)

 ((Ateev.Bhandari@thomsonreuters.com))