Deals of the day-Mergers and acquisitions

Marex

14/08/2024 21:26

(Updates Flutter and Mars; Adds Bradesco, Maverick Natural
Resources, BlackLine Systems and Marex Group)
       Aug 14 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on
Wednesday:
    
    ** Brazilian bank Bradesco  BBDC3.SA  wants to form new
partnerships with banks, equipment producers and agriculture
cooperatives to expand lending to the agribusiness sector, which
currently covers less than 15% of its total credit portfolio.
 urn:newsml:reuters.com:*:nL1N3K10OE
        
  
    ** The private equity owner of Maverick Natural Resources is
exploring a potential sale that could value the U.S. oil and gas
producer at nearly $3 billion, including debt, according to
people familiar with the matter.  urn:newsml:reuters.com:*:nL8N3JZ1MH
        
  
    ** Activist investor Jana Partners built a new stake in U.S.
enterprise software company BlackLine Systems  BL.O  during the
second quarter, according to a regulatory filing.  urn:newsml:reuters.com:*:nL1N3K10KU
        
  
        ** British-based commodities broker Marex Group  MRX.O 
is planning more acquisitions to diversify the company following
a U.S. listing, its CEO told Reuters, in the wake of strong
interim results that sent shares to a record high.  urn:newsml:reuters.com:*:nL8N3K112I
  
        
  
        ** Family-owned candy giant Mars is buying Cheez-It
maker Kellanova  K.N  in a nearly $36 billion deal, bringing
together brands from M&M's and Snickers to Pringles and
Pop-Tarts in the year's biggest deal to date.  urn:newsml:reuters.com:*:nL4N3K1076
  
    
        ** Indian miner Vedanta Ltd  VDAN.NS  will sell a 3.3%
stake worth more than $950 million in unit Hindustan Zinc
 HZNC.NS , it said, bigger than the 2.6% stake it initially
planned to hive off.  urn:newsml:reuters.com:*:nL4N3K10VV
    
    ** Performance Food Group Company  PFGC.N  said it would
acquire privately held foodservice distributor Cheney Bros for
$2.1 billion in cash, bolstering its presence in Southeastern
U.S.  urn:newsml:reuters.com:*:nL4N3K10WJ

    ** Solar company Tongwei  600438.SS  is planning to buy a
controlling stake in competitor Runergy for about 5 billion yuan
($697.78 million) in a move that would allow the Chinese company
to gain presence in the United States.  urn:newsml:reuters.com:*:nL4N3K10OF
    
    ** UBS on Tuesday agreed to sell Credit Suisse's U.S.
mortgage servicing business, UBS Chief Financial Officer Todd
Tuckner said, without naming the buyer.  urn:newsml:reuters.com:*:nL8N3K10OS
    
    ** Irish betting giant Flutter Entertainment  FLTRF.L  is in
talks to buy UK gambling technology firm Playtech's PTEC.L
Italian unit Snaitech, the companies said.  urn:newsml:reuters.com:*:nL4N3K10P4
    
    ** Rheinmetall  RHMG.DE  will take over U.S. military
vehicle supplier Loc Performance in a $950 million deal, the
German defence group said, with an eye to improving its chances
of scoring orders worth billions.  urn:newsml:reuters.com:*:nL4N3K01NW

    ** Dental implant maker Straumann  STMN.S  announced the
sale of its DrSmile aligner business and raised its full-year
outlook to reflect that, after its half-year operating profit
beat expectations.  urn:newsml:reuters.com:*:nL8N3K104E

    ** Thyssenkrupp  TKAG.DE  continues to be in good
discussions with private equity firm Carlyle  CG.O  and German
state lender KfW  KFW.UL  over the sale of a majority stake in
its warship division, finance chief Jens Schulte told
journalists.  urn:newsml:reuters.com:*:nL8N3K10AX

    ** U.S. casualty insurer Allstate  ALL.N  has sold its
employer voluntary benefits business to StanCorp Financial Group
for $2 billion in cash, Allstate announced on Tuesday.
 urn:newsml:reuters.com:*:nL4N3K01TU
    
    ** Intel  INTC.O , which is cutting thousands of jobs as it
struggles to stay relevant in the chip industry, sold its 1.18
million share stake in British chip firm Arm Holdings  ARM.O  in
the second quarter, a regulatory filing showed on Tuesday.
 urn:newsml:reuters.com:*:nL4N3K01WQ
    
    ** Reliance  RELI.NS  and Walt Disney  DIS.N  have offered
to sell some channels to win faster antitrust approval for their
$8.5 billion India media assets merger, but are resisting
changes to cricket broadcast rights they own, two sources
familiar with the matter said.  urn:newsml:reuters.com:*:nL6N3K00C0
    
    ** Bitcoin miner Riot Platforms  RIOT.O  said on Tuesday it
had increased its stake in rival Bitfarms  BITF.TO  to 18.9%.
 urn:newsml:reuters.com:*:nL4N3K01W6

    ** Japan's Meiji Yasuda Life Insurance will acquire American
Heritage Life Insurance, a unit of U.S. insurance company
Allstate  ALL.N , for around $2 billion, the Nikkei reported.
 urn:newsml:reuters.com:*:nL4N3K01TD

 (Compiled by Rajarshi Roy and Aatreyee Dasgupta in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))