Deals of the day-Mergers and acquisitions

Definity Financial

18/03/2025 13:37

Adds Swiss Re, Wabtec & VTB; updates Alphabet

March 18 (Reuters) - The following bids, mergers, acquisitions, and disposals were reported by 1330 GMT on Tuesday:

** Alphabet
GOOGL.O
 said it would buy Wiz for $32 billion in its biggest deal as the Google parent doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon.com and Microsoft. nL4N3Q10T6

** Swiss Re
SRENH.S
 announced a sale of its 10.5% stake in Canadian insurer Definity Financial
DFY.TO
 for 655 million Canadian dollars ($458.49 million).

** Wabtec
WAB.N
 said it has agreed to buy train coupler maker Dellner Couplers from private equity firm EQT
EQTAB.ST
 for $960 million in cash, as the heavy industrial parts maker looks to strengthen its passenger rail business. nL4N3Q10RI

** Russia's second-largest lender VTB's deal to acquire the Zvezda shipbuilding yard from oil company Rosneft is now dead because the VTB-owned United Shipbuilding Corporation (USC) cannot finance the acquisition, VTB CEO Andrei Kostin said. nL1N3Q10CO

** London-listed Glencore GLEN.L has made an offer to acquire Canadian lithium battery recycling company Li-Cycle LICYN.MX as part of a proposal to offset operational and financial issues. nL4N3Q01LV

** South Korean conglomerate Hanwha 000880.KS now owns a 9.9% stake in Australian shipbuilder Austal ASB.AX, an exchange filing showed.nL4N3Q01KR

** Cleary Gottlieb Steen & Hamilton has acquired a legal technology company, a rare move as large law firms race to invest in generative artificial intelligence. nL1N3Q00IS

** The German insurer Allianz ALVG.DE said on Monday that it was selling its 26% stake in two joint ventures with India's Bajaj Finserv BJFS.NS to the Bajaj Group for around 2.6 billion euros ($2.84 billion). nL1N3Q00P5

 (Compiled by Rajarshi Roy and Ateev Bhandari in Bengaluru)

 ((Ateev.Bhandari@thomsonreuters.com;))