Deals of the day-Mergers and acquisitions

Ercros SA

05/03/2024 11:16

March 5 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1030 GMT on Tuesday:

    ** Singapore's competition watchdog said  it has granted
approval for the merger between Air India and Vistara, a joint
venture between Indian conglomerate Tata Group and Singapore
Airlines  SIAL.SI , subject to certain conditions.
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    ** U.S.-based communications equipment firm Viavi Solutions
Inc  VIAV.O  has agreed to buy British telecommunications
testing firm Spirent Communications  SPT.L  for about 1.01
billion pounds ($1.28 billion), the companies said.
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    ** Portuguese industrial group Bondalti has launched a
takeover bid worth 329 million euros ($357 million) for all
shares of Barcelona-based chemical company Ercros  ECR.MC , it
said  in a filing to Spanish stock market supervisor CNMV.
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    ** Norsk Hydro's  NHY.OL  renewable energy unit Hydro Rein
has agreed with Swedish renewables developer IOWN Energy to buy
an 80% stake in a 2.4 gigawatt portfolio of planned wind power
projects in Sweden and Norway, it said.
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    ** French media group Vivendi's  VIV.PA  Canal+ has raised
its offer to buy all the shares of South Africa's MultiChoice
 MCGJ.J  that it does not already own, the companies said.
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    ** Vitol-backed energy storage company VTTI is close to
acquiring a majority stake in Italy's biggest liquefied natural
gas import terminal from Exxon Mobil  XOM.N  and QatarEnergy,
two sources with knowledge of the matter said on Monday.
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    ** JetBlue Airways  JBLU.O  and Spirit Airlines  SAVE.N 
scrapped their $3.8-billion merger agreement on Monday, with the
low-cost carriers saying there was no path forward after a U.S.
judge blocked the deal in January on anti-competition concerns.
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    ** The CEO of Brazilian development bank BNDES, Aloizio
Mercadante, said on Monday the company can sell its stakes in
other companies if an opportunity appears and is a good deal.
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    ** EU antitrust regulators last month temporarily halted
their investigation into British Airways owner IAG's  ICAG.L 
400-million-euro ($434.28 million) bid to buy out Air Europa,
according to a European Commission update on its site on Monday.
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    ** A senior Nippon Steel  5401.T  executive told Reuters he
is set to meet the United Steelworkers (USW) union chief this
month to seek support for acquiring U.S. Steel  X.N , expressing
confidence the deal can be finalised by the end of September.
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    ** Macy's  M.N  shares jumped 16% on Monday after investors
Arkhouse Management and Brigade Capital sweetened their
take-private bid over the weekend, valuing the U.S. department
store operator at $6.58 billion.
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 (Compiled by Rajarshi Roy and Vallari Srivastava in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))