Deals of the day-Mergers and acquisitions

Chubu Electric Power Co

27/10/2025 19:44

Adds SAP and Novartis

Oct 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** SAP SAPG.DE, Europe's largest software provider, offered to buy accounting software firm BlackLine BL.O for nearly $4.5 billion in June but was rebuffed and is now considering whether to pursue the company again, according to a copy of the offer letter reviewed by Reuters and a person familiar with the matter.

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** Swiss drugmaker Novartis NOVN.S on Monday defended its $12 billion deal to acquire Avidity Biosciences ahead of the U.S. firm getting late-stage data for its muscle disorder treatment next year, saying it was "an appropriate risk to take".

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** London-based fund manager Janus Henderson  said it had received a takeover proposal from billionaire Nelson Peltz's Trian Fund Management and General Catalyst, valuing it at $7.18 billion.

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** American Water Works  agreed to buy Essential Utilities  in an all-stock deal to create a combined company worth $63 billion, including debt, strengthening its position as the top regulated water utility in the country.

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** Huntington Bancshares  agreed to buy smaller rival Cadence Bank  in an all-stock deal valued at $7.4 billion, underscoring a broader push by regional lenders to grow their footprint and compete with larger banks.

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** Albemarle  said it will sell a 51% stake in its refining catalyst solutions business, Ketjen, to private equity firm KPS Capital Partners, and divest its 50% interest in the Eurecat joint venture to France's Axens SA, in deals worth about $660 million.

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** Cenovus Energy ,  further sweetened its bid for MEG Energy  to C$30 a share, winning long-sought backing from MEG's largest shareholder, Strathcona Resources .

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** India's renewable energy service company OMC Power, backed by Japan's Mitsui & Co 8031.T and Chubu Electric Power 9502.T, said that Japanese automaker Honda Motor 7267.T has taken an equity stake in the company to jointly build clean energy storage batteries.

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** Australia's Larvotto Resources LRV.AX said it had rejected a non-binding indicative offer received last week from United States Antimony Corporation, valuing the miner at about A$722.9 million ($469.74 million).

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** Swiss drugmaker Novartis  on Sunday said it agreed to acquire U.S. biotech firm Avidity Biosciences RNA.O for about $12 billion in cash, as the company looks to bolster its portfolio of treatments for rare muscle disorders.

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 (Compiled by Rajarshi Roy and Anhata Rooprai in Bengaluru)

 ((Anhata.Rooprai@thomsonreuters.com))