Deals of the day-Mergers and acquisitions

Hollysys Automation Technologies

11/12/2023 14:38

(Adds: Hollysys Automation Technologies, Occidental Petroleum)
       Dec 11 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on Monday:

        ** Hollysys Automation Technologies  HOLI.F  said it has
reached an agreement to be acquired by Hong Kong-based Ascendent
Capital in an all-cash transaction valued at about $1.66
billion.
  
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        ** Occidental Petroleum  OXY.N  said it would buy energy
producer CrownRock in a cash-and-stock deal valued at $12
billion including debt, expanding in the lucrative Permian
basin.
  
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    ** Middle East alternative investment firm Investcorp has
acquired a 50% stake in the $4.8 billion infrastructure business
of U.S. firm Corsair Capital, the two companies announced.
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    ** Norway's Schibsted  SCHA.OL  said it has made a
non-binding agreement worth 6.2 billion crowns ($568 million) to
sell its news media operations to its main owner Tinius Trust,
splitting the group into two companies.
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    ** An investor group consisting of Arkhouse Management and
Brigade Capital has made a $5.8 billion offer to take department
store chain Macy's  M.N  private, according to a person familiar
with the matter on Sunday.
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    ** Australia's Sigma Healthcare  SIG.AX   said it would
merge with privately owned pharmacy giant Chemist Warehouse
Group to create a A$8.8 billion ($5.79 billion) entity.
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    ** U.S. health insurer Cigna  CI.N  has ended its attempt to
negotiate an acquisition of rival Humana  HUM.N  after the pair
failed to agree on price, two sources familiar with the
situation said on Sunday, as the company announced plans to buy
back $10 billion worth of shares.
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    ** Israeli insurer and financial firm Phoenix Holdings
 PHOE1.TA  said on Sunday it had agreed to buy the mutual fund
activity from Psagot Mutual Funds  GPST.TA  for as much as 175
million shekels ($47 million).
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 (Compiled by Rajarshi Roy in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))