Deals of the day-Mergers and acquisitions

Namoi Cotton

16/05/2024 14:47

(Adds: Blackbaud, Crescent Energy, Johnson & Johnson, Sabadell,
Reliance Retail, Royal Mail, American International Updates:)
       May 16 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1340 GMT on
Thursday:

        ** Blackbaud  BLKB.O  rejected a sweetened $4.3 billion
takeover offer from Clearlake Capital Group, saying it
significantly undervalued the cloud software provider.
  
         urn:newsml:reuters.com:*:nL4N3HJ390
  
    
        ** Oil and gas producer Crescent Energy  CRGY.N  will
acquire SilverBow Resources  SBOW.N  in a $2.1 billion deal,
creating the second-largest operator in the Eagle Ford basin in
Texas.
  
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        ** Johnson & Johnson  JNJ.N  said  it would acquire
Proteologix for $850 million in cash, as it looks to gain access
to the privately held company's experimental atopic dermatitis
treatments.
  
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        ** The board of Spanish bank Sabadell  SABE.MC  rejected
BBVA's takeover proposal as the impact on the capital ratio of
the combined entity was likely to be higher than estimated by
BBVA, CEO Cesar Gonzalez-Bueno said.
  
         urn:newsml:reuters.com:*:nL8N3HJ428
  
        
  
        ** India's Reliance Retail entered a partnership to sell
British online retailer ASOS'  ASOS.L  products in India, the
Reliance Industries  RELI.NS  unit said.
  
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        ** Britain's business minister Kemi Badenoch will meet
the chief executive of Royal Mail's parent company International
Distributions Services  IDSI.L  to discuss a takeover offer, a
spokesman for Prime Minister Rishi Sunak said.
  
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        ** U.S. insurer American International Group  AIG.N 
said  it would sell a 20% stake in Corebridge Financial  CRBG.N 
to Japan's Nippon Life Insurance for $3.8 billion.
  
         urn:newsml:reuters.com:*:nL4N3HJ2AG
  

    ** Anglo American  AAL.L  has suspended hiring globally, it
said, as it gets plans underway to simplify itself and build
value - and avert a $43 billion takeover bid by Australia's BHP
 BHP.AX  Group.
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    ** Siemens  SIEGn.DE  will sell its Innomotics large motors
and drives business for 3.5 billion euros ($3.81 billion) to KPS
Capital Partners, the German engineering group said .
     urn:newsml:reuters.com:*:nFWN3HI2DA
    
    ** Italy's Treasury sold a 2.8% stake in energy group Eni
 ENI.MI  on Wednesday, pocketing around 1.4 billion euros ($1.52
billion) in its drive to raise cash to bolster the country's
creaking public finances.
     urn:newsml:reuters.com:*:nL1N3HJ0AH
    
    ** Brookfield India Real Estate Trust (BIRET)  BROF.NS  has
signed a binding agreement to acquire a 50% stake in four Bharti
Enterprises properties for 60 billion rupees ($719 million),
including debt, it said .
     urn:newsml:reuters.com:*:nL4N3HJ0R2
    
    ** Australia's Incitec Pivot  IPL.AX  said  it was in
advanced talks with PT Pupuk Kalimantan Timur (Pupuk Kaltim)
 PUPUK.UL  , Southeast Asia's biggest urea fertiliser maker, for
the sale of its fertiliser business.
     urn:newsml:reuters.com:*:nL4N3HI4QX
    
    ** Australia's competition regulator raised concerns  on
Louis Dreyfus' proposed A$138.6 million ($92.85 million)
acquisition of Namoi Cotton  NAM.AX  as both companies supply
cotton ginning and cotton lint classing in the same country.
     urn:newsml:reuters.com:*:nL4N3HI4X4
    
    ** New Zealand dairy giant Fonterra Co-operative  FCG.NZ  is
planning a full or partial sale of its global consumer unit, its
Fonterra Oceania unit and Sri Lankan business, looking to focus
on its milk solids supply business, it said .
     urn:newsml:reuters.com:*:nL4N3HI4AV
    
    ** Brazilian power company Auren  AURE3.SA  said on
Wednesday it signed an agreement to buy the Brazilian operation
of AES Corp  AES.N  in a stock and cash deal.
     urn:newsml:reuters.com:*:nL1N3HI3KE

 (Compiled by Rajarshi Roy and Abhinav Parmar in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))