Deals of the day-Mergers and acquisitions

Illumina

12/04/2024 21:29

(Adds Hess, U.S. Steel and Paramount Global)
       April 12 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Friday:
    
    ** Hedge fund Barington Capital urged Paramount Global to
scrap its exclusive merger talks with Skydance Media, arguing
all shareholders would benefit if the company looked at other
potential bidders.  urn:newsml:reuters.com:*:nL2N3GL22B
    
    ** U.S. Steel  X.N  shareholders approved its proposed $14.9
billion acquisition by Japan's Nippon Steel 5401.T, taking the
merger one step closer to completion even as political
opposition to the deal mounts.  urn:newsml:reuters.com:*:nL3N3GL3WH

    ** An Exxon Mobil  XOM.N  arbitration case that could block
the sale of Hess Corp  HES.N  to Chevron  CVX.N  could drag on
until year-end, Hess said in a U.S. securities filing.
 urn:newsml:reuters.com:*:nL3N3GL3JS    
    
    ** U.S. gene sequencing company Illumina's  ILMN.O  plan to
divest cancer diagnostic test maker Grail  GRAL.O  received the
green light from EU antitrust regulators after having blocked
the deal two years ago.  urn:newsml:reuters.com:*:nL5N3GL276    
    
    ** Thai retailer Central Group has acquired the landmark
KaDeWe property in central Berlin from the insolvent Austrian
company Signa in what it said was another step towards buying
the group.  urn:newsml:reuters.com:*:nL5N3GL3A1
    
    ** Japan's Mitsubishi UFJ Financial Group (MUFG)  8306.T  is
buying a 20% stake in HDFC Bank's  HDBK.NS  non-banking unit HDB
Financial Services, valuing the IPO-bound subsidiary between $9
billion and $10 billion, the Economic Times reported.
 urn:newsml:reuters.com:*:nL3N3GL1E7
    
    ** The United Arab Emirates' state-owned oil company
recently considered buying Britain's BP  BP.L  but the
deliberations did not progress beyond preliminary discussions,
people familiar with the matter told Reuters.  urn:newsml:reuters.com:*:nL2N3GL0DV
    
    ** Societe Generale  SOGN.PA  said it had agreed the sale to
Moroccan conglomerate Saham Group of Société Générale Marocaine
de Banques and La Marocaine Vie for 745 million euros ($797.45
million), as part of a wider divestment strategy, lifting its
shares by more than 2%.  urn:newsml:reuters.com:*:nL2N3GL0CF
    
    ** Australia's Boral  BLD.AX  recommended that investors
accept an up to A$1.5 billion ($980.70 million) takeover offer
from its largest shareholder Seven Group Holdings  SVW.AX ,
after negotiating an increase in the cash component of the deal.
 urn:newsml:reuters.com:*:nL3N3GL05L
    
    ** Brookfield Asset Management  BAM.TO  is in advanced talks
to acquire a majority stake in private credit manager Castlelake
with an investment of more than $1.5 billion, the Financial
Times reported on Thursday.  urn:newsml:reuters.com:*:nL3N3GK46G
    
    ** Four board members at Paramount Global  PARA.O  will step
down amid reports that the entertainment giant controlled by
Shari Redstone was discussing a merger with Skydance Media, the
company disclosed in its proxy filing on Thursday.  urn:newsml:reuters.com:*:nL3N3GK3RM

 (Compiled by Rajarshi Roy and Anuja Bharat Mistry in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;
AnujaBharat.Mistry@thomsonreuters.com))