Deals of the day-Mergers and acquisitions

Myer Holdings

29/10/2024 19:37

(Adds Sweden's SKF, OpenAI, Colonial Pipeline)
       Oct 29 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1933 GMT on Tuesday:
    
        ** Sweden's SKF said it sold its Hanover, Pennsylvania
ring and seal operation, via subsidiary PCTI, to Carco PRP for
2.3 billion Swedish crowns ($215.98 million) as part of its
strategy to exit the non-core aerospace sector.  urn:newsml:reuters.com:*:nL4N3M529S
  
        
  
        ** OpenAI is working with Broadcom  AVGO.O  and TSMC
 2330.TW  to build its first in-house chip designed to support
its artificial intelligence systems, while adding AMD  AMD.O 
chips alongside Nvidia  NVDA.O  chips to meet its surging
infrastructure demands, sources told Reuters.  urn:newsml:reuters.com:*:nL1N3M00Z1
  
    
    ** U.S. energy firm Colonial Pipeline is weighing options
including a sale that could value the company at more than $10
billion, Bloomberg News reported, citing people familiar with
the matter.  urn:newsml:reuters.com:*:nL4N3M52EX
        
  
    ** GSK  GSK.L  said it would buy rights to develop and sell
an experimental drug from China-based biotech firm Chimagen
Biosciences in an up to $850 million deal, as the British
pharmaceutical giant looks to expand its immunology pipeline.
 urn:newsml:reuters.com:*:nL4N3M51K7
    
    ** South Africa's Competition Tribunal blocked Vodacom's
 VODJ.J  proposed merger with fibre group Maziv, a blow to the
ambitions of the country's biggest mobile operator to expand its
fibre footprint nationwide.  urn:newsml:reuters.com:*:nL1N3M50G1
    
    ** Abu Dhabi-based investment vehicle CYVN Holdings has
entered a non-binding agreement to buy 100% of carmaker
McLaren's automotive business from Mumtalakat, the sovereign
wealth fund of Bahrain, the two Gulf firms said.  urn:newsml:reuters.com:*:nL1N3M50J6
    
    ** Commonwealth Bank of Australia  CBA.AX  has sold a 10%
stake in Vietnam International Commercial Joint Stock Bank
 VIB.HM  it said, following a previous divestment last month, as
it focuses on its banking business in Australia and New Zealand.
 urn:newsml:reuters.com:*:nL4N3M50Z9
    
    ** Hargreaves Lansdown  HRGV.L , Britain's largest
investment platform, said it expects the completion of its
agreed 5.4 billion pound ($7 billion) takeover by an
international consortium in the first quarter of 2025.
 urn:newsml:reuters.com:*:nL4N3M50YX
    
    ** Norway's sovereign wealth fund said it has bought a 97.7%
stake in an office property in Menlo Park in the San Francisco
bay area for $217 million, in a joint venture with U.S. real
estate investment firm DivcoWest.  urn:newsml:reuters.com:*:nL8N3M510D

    ** Australian department store owner Myer  MYR.AX  will
merge with retail billionaire Solomon Lew's Premier Investments'
 PMV.AX  portfolio of apparel brands, in a deal valued at
A$863.8 million ($569 million), the companies said.  urn:newsml:reuters.com:*:nL4N3M41S2
    
    ** U.S. drugmaker AbbVie  ABBV.N  said on Monday it will buy
Aliada Therapeutics for $1.4 billion in cash, betting on an
experimental Alzheimer's treatment still in the early stage of
development.  urn:newsml:reuters.com:*:nL4N3M40W1
    
    ** Private equity firm BC Partners said on Monday it had
agreed to sell its controlling stake in GardaWorld in a deal
that values the Canadian security services company at C$13.5
billion ($9.72 billion).  urn:newsml:reuters.com:*:nL4N3M41EQ

 (Compiled by Rajarshi Roy, Prakhar Srivastava and Jaspreet
Singh in Bengaluru)
 ((prakhar.srivastava2@thomsonreuters.com;))