Deals of the day-Mergers and acquisitions

Namoi Cotton

31/05/2024 14:57

(Adds: Hess, UBS, Soho House and Aramco)
       May 31 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on Friday:
    
        ** Hess shareholders cast 157.6 million 'yes' votes in
favor of its sale to Chevron, a Securities and Exchange
Commission filing  showed, 3 million more than required to pass.
  
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        ** Soho House Co  SHCO.N  said that its board has
dissolved a special committee that had been set up to evaluate
certain strategic deals, including the possibility of going
private.
  
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        ** UBS  UBSG.S  completed the merger of the main parent
companies of the Swiss bank and Credit Suisse, which it acquired
last year after its longtime rival collapsed, putting an end to
one of the bastions of the country's financial sector.
  
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        ** Saudi Arabia and its bankers will on Sunday morning
start taking orders for as much as $13.1 billion worth of shares
in its energy giant Aramco  2222.SE , in a major test of
international investor interest in its market.
  
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    ** 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 and Aatreyee Dasgupta in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))