Deals of the day-Mergers and acquisitions

Namoi Cotton

31/05/2024 11:02

May 31 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 0930 GMT on Friday:

    ** Britain's competition regulator said it had started a
probe into Nationwide Building Society's  NBS.L  proposed 2.9
billion pound ($3.7 billion) all-cash deal to buy Virgin Money
UK  VMUK.L .
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    ** Spanish retailer group Dia  DIDA.MC  said it agreed to
sell its business in Brazil for a "symbolic price" of 100 euros
($108.19) and exit the country to focus on more profitable
markets such as Spain and Argentina.
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    ** Debt-laden property developer Country Garden's  2007.HK 
venture capital arm is looking to sell its stake in Chinese
chipmaker ChangXin Memory Technologies for 2 billion yuan
($276.30 million), Bloomberg News reported.
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    ** Namoi Cotton  NAM.AX  asked its shareholders to accept
Singapore-based agribusiness Olam Agri's  IPO-OLAA.SI  A$144.9
million ($96.08 million) takeover offer for the cotton
processing company.
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    ** Rio Tinto  RIO.AX  said it entered an agreement to buy
Sumitomo Chemical Co's  4005.T  20.64% stake in New Zealand
Aluminium Smelters (NZAS) to get full control of the country's
only aluminum smelter.
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    ** Skydance Media has submitted a sweetened offer for its
proposed merger with Paramount Global  PARA.O , according to a
person familiar with the matter, the latest twist in a
tumultuous negotiation process.
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 (Compiled by Rajarshi Roy in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))