Deals of the day-Mergers and acquisitions

ICG

18/11/2025 16:33

Adds: Generali, Topgolf Callaway Brands Updates: AkzoNobel

Nov 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Tuesday:

** Generali has finalised the legal integration of Liberty Seguros into its operations, the Italian insurer announced.

nL6N3WU0SA

** Golf-equipment maker Topgolf Callaway Brands  agreed to sell a majority stake in its Topgolf unit to private equity firm Leonard Green, valuing the business at $1.1 billion and marking an end to the partnership roughly five years after a merger.

nL4N3WU0QW

** Dulux paint maker AkzoNobel  said that it plans to merge with paintmaker Axalta Coating Systems  in a deal that will create a combined company with an enterprise value of $25 billion.

nL8N3WU04N

** A consortium led by Brazilian investment group Fictor and unnamed investors from the United Arab Emirates agreed to buy embattled Brazilian lender Banco Master, Fictor said in a statement.

nL1N3WT0XU

** Swiss firm Cicor Technologies  said it has made a final revised offer for UK's TT Electronics , introducing an all-cash option of 150 pence per share, alongside an alternative that offers Cicor shares.

nL6N3WU0F5

** ING Bank Slaski  said that it had agreed to acquire the remaining 55% stake in Polish asset management company Goldman Sachs TFI from Goldman Sachs Asset Management International Holdings for 396 million zlotys ($108 million).

nL8N3WU054

** Amundi  is buying a 9.9% stake in London‑listed Intermediate Capital Group  to expand in private markets under its new three‑year strategic plan, Europe's largest asset manager said.

nL8N3WT1IT

** Chip manufacturer GlobalFoundries  said it has acquired Advanced Micro Foundry (AMF), a Singapore-based chipmaker that focuses on silicon photonics, a fast-growing field that is being used in artificial intelligence data centers and quantum computers.

nL6N3WT1L9

** Private equity firm Thoma Bravo has made an offer to acquire Clearwater Analytics , people familiar with the matter said, as the race to buy out the software provider to investment firms gathers pace.

nL6N3WT1I0

 (Compiled by Rajarshi Roy and Arnav Mishra in Bengaluru)

 ((Rajarshi.Roy@thomsonreuters.com))