Deals of the day-Mergers and acquisitions
22/12/2023 11:16
Dec 22 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1030 GMT on Friday:
** Italian home appliance maker De' Longhi DLG.MI has
agreed to buy from its parent company a stake in high-end
espresso machine manufacturer La Marzocco as it bets on coffee
to pep up growth.
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** Warren Buffett-led Berkshire Hathaway BRKa.N has
acquired 5.2 million shares of Occidental Petroleum Corp
OXY.N , bringing its stake in the oil company closer to 28%,
according to a regulatory filing on Thursday.
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** Sweden's Electrolux Professional EPROb.ST said it had
agreed to buy Japan's Tosei Corporation 8923.T , a maker of
professional laundry equipment and vacuum packing machines, for
about 1.65 billion Swedish crowns ($163.3 million).
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** Canada on Thursday approved Royal Bank of Canada's
RY.TO C$13.5 billion dollars ($10.2 billion) acquisition of
HSBC's HSBA.L domestic unit, in a deal that would further
tighten the country's top lenders' grip on the market.
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** Japanese insurer Sumitomo Life SMTLI.UL said it will
acquire TPG Inc's TPG.O 35.5% stake in Singapore Life Holdings
(Singlife) for S$1.6 billion ($1.21 billion) to expand its
footprint in Southeast Asia.
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** The White House on Thursday said Nippon Steel Corp's
5401.T $14.9 billion proposed acquisition of U.S. Steel Corp
X.N deserves "serious scrutiny," given the company's core role
in U.S. steel production that is critical to national security.
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(Compiled by Rajarshi Roy and Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))