Deals of the day-Mergers and acquisitions

Landos Biopharma

25/03/2024 13:49

(Adds: AbbVie, MNC Capital, Arrow Holdings, Ingersoll Rand,
Novo Nordisk, Ultrapar,  Updates: Lufthansa)
       March 25 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on Monday:

        ** AbbVie  ABBV.N  will buy drug developer Landos
Biopharma  LABP.O  for up to $212 million as the Humira-maker
aims to expand its pipeline of medicines to treat immune
system-related illnesses, the companies said.
  
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        ** Investment firm MNC Capital said it has raised its
all cash bid to acquire sporting and outdoor products maker
Vista Outdoor  VSTO.N  to $3 billion from $2.9 billion.
  
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        ** Arrow Holdings submitted a non-binding proposal to
buy the remaining stake in rental and hospitality services
company Target Hospitality Corp  TH.O  that it does not already
own for $10.80 per share.
  
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        ** Ingersoll Rand  IR.N  will buy ILC Dover from
investment firm New Mountain Capital for about $2.33 billion,
the air compressor maker said, bolstering its presence in the
life sciences markets.
  
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        ** Lufthansa's  LHAG.DE  bid for a minority stake in
Italian rival ITA Airways could harm competition and lead to
higher prices, EU antitrust regulators said, ramping up pressure
on the German carrier to come up with stronger remedies.
  
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        ** Denmark's Novo Nordisk  NOVOb.CO  said it had agreed
to buy Cardior Pharmaceuticals for up to 1.03 billion euros
($1.1 billion) to strengthen its cardiovascular pipeline.
  
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        ** Brazilian conglomerate Ultrapar  UGPA3.SA  has
increased its stake in logistics firm Hidrovias do Brasil
 HBSA3.SA , it said late on Sunday, as part of a strategy to
expand its footprint in businesses exposed to Brazil's
agricultural sector.
  
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    ** Talgo's  TLGO.MC  top shareholder is in talks to sell its
40% stake in the Spanish train maker to Swiss rival Stadler Rail
 SRAIL.S  as an alternative to a tender offer from Hungary's
Ganz-Mavag consortium, El Economista newspaper reported, citing
unidentified market sources.
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    ** Private equity groups Advent International and CVC
Capital have teamed up to bid for Partner in Pet Food (PPF), a
maker of animal food owned by Cinven, the Financial Times
reported on Sunday.
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 (Compiled by Rajarshi Roy and Puyaan Singh in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))