Deals of the day-Mergers and acquisitions

Namoi Cotton

11/09/2024 10:42

Sept 11 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 0930 GMT on
Wednesday:

    ** Abu Dhabi National Oil Company (ADNOC) is expected to
make a formal offer to acquire Covestro  1COV.DE  for about 14.4
billion euros ($15.90 billion) including debt, the Financial
Times reported.
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    ** The bid by Unicredit  CRDI.MI  to purchase a 4.49% stake
in Commerzbank  CBKG.DE  from the German government was
significantly higher than other offers at 13.20 euros ($14.58) a
share, a finance ministry spokesperson said.
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    ** A company controlled by private equity firm Advent
International has placed an about 4% stake in parcel locker firm
InPost  INPST.AS  for 340 million euros ($375.56 million) to
institutional investors, a bookrunner said.
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    ** Britain's largest real estate portal Rightmove  RMV.L 
rejected the 5.6 billion pound ($7.32 billion) cash-and-stock
takeover proposal from Australia's REA Group  REA.AX , it said,
citing that the bid undervalued its prospects.
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    ** Spain's Banco Santander  SAN.MC  has sold 5.3 million
shares in its Polish unit, Santander Bank Polska  SPL1.WA , for
about 2.46 billion zlotys gross ($635.43 million), the bank said
late on Tuesday.
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    ** Australia's Namoi Cotton  NAM.AX  recommended
shareholders to vote for the A$138 million ($91.81 million)
takeover offer from Dutch crop trader Louis Dreyfus Company
(LDC) and reject a higher bid from Olam Agri  IPO-OLAA.SI .
     urn:newsml:reuters.com:*:nL4N3KS1YE
    
    ** Goldman Sachs  GS.N  is close to finalizing a deal to
transfer its General Motors  GM.N  credit card business to
Barclays  BARC.L , a source familiar with the matter said on
Tuesday.
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 (Compiled by Rajarshi Roy and Priyanka.G in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))