Deals of the day-Mergers and acquisitions
23/04/2024 10:53
April 23 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 0930 GMT on Tuesday:
** JD Sports Fashion JD.L has proposed to buy American
athletic fashion retailer Hibbett Inc HIBB.O for about $1.08
billion, the companies said, as Britain's biggest sportswear
retailer looks to expand across the southeastern U.S.
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** French investment firm Ardian will sell a majority stake
in British audio equipment maker Audiotonix to private equity
firm PAI Partners, the two groups said in separate statements.
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** Italian coffee maker Lavazza said it was investing
further in the machine vending industry by acquiring a stake in
machine vendor IVS IVS.MI for 185 million euros ($197 million)
with an eye to eventually gain full control.
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** South Korea's SK Square 402340.KS has sold $191.5
million worth of Krafton Inc 259960.KS shares at 243,500 won
each in a block trade, according to two sources with direct
knowledge of the matter.
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** The U.S. Federal Trade Commission on Monday sued to block
Coach parent Tapestry's TPR.N $8.5 billion deal to buy Michael
Kors owner Capri CPRI.N , saying it would eliminate "direct
head-to-head competition" between the flagship brands of the two
luxury handbag makers.
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** Kroger KR.N and Albertsons Cos ACI.N are expanding
their planned sale of grocery stores, offloading 166 more
locations than previously agreed upon to C&S Wholesale Grocers
as they work to get regulatory approval for their proposed $25
billion merger, the companies said on Monday.
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(Compiled by Rajarshi Roy and Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com))