Deals of the day-Mergers and acquisitions

Namoi Cotton

01/10/2024 10:58

Oct 1 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 0930 GMT on Tuesday:
    
 ** Dutch crop trader Louis Dreyfus raised its buyout offer for
Namoi Cotton, with its bid that values the Australian cotton
ginning firm at A$159.3 million ($110 million), signalling the
end of a months-long bidding war as Singapore's Olam Agri
effectively surrendered arms.
     urn:newsml:reuters.com:*:nL4N3LD03B
    
    ** Abu Dhabi's ADNOC has agreed to buy German chemicals
producer Covestro  1COV.DE  for 15.9 billion euros ($18 billion)
including debt, the state oil giant said, representing its
largest acquisition to date.
     urn:newsml:reuters.com:*:nL1N3LD08M
    
    ** Macquarie's  MQG.AX  asset management division will buy
Denmark-based offshore wind operations and maintenance business
ZITON A/S  IPO-ZITON.OL , the Australian financial services
company said.
     urn:newsml:reuters.com:*:nL4N3LD0L6   
    
    ** British luxury brand Mulberry  MUL.L  rejected retailer
Frasers'  FRAS.L  83-million-pound ($111 million) takeover
proposal, saying its majority shareholder did not support the
bid and that it undervalued the company.
     urn:newsml:reuters.com:*:nL4N3LD0FK
 
    ** Switzerland's Partners Group  PGHN.S  is selling German
metering firm Techem  TECENC.UL  for 6.7 billion euros ($7.46
billion) to US asset manager TPG  TPG.O , Techem said, changing
hands to its third private equity firm.
     urn:newsml:reuters.com:*:nL8N3LD0EN
    
    ** Pfizer  PFE.N  sold a stake in British consumer
healthcare group Haleon  HLN.L  worth about $3.26 billion on
Monday, cutting its shareholding in the maker of Sensodyne
toothpaste and Panadol and Advil painkillers to 15% from 22.6%.
     urn:newsml:reuters.com:*:nL4N3LC1FO
    
    ** Spanish defence and technology firm Indra's  IDR.MC 
board agreed to start looking for options to sell a stake in its
Minsait Payments business, the company said on Monday in a
filing to the stock market regulator.
     urn:newsml:reuters.com:*:nL8N3LD09T
    
    ** Singapore's Olam Agri Holdings  IPO-OLAA.SI  said it will
not to extend its buyout offer for Namoi Cotton  NAM.AX , which
values the Australian cotton producer at A$144 million ($99.62
million), beyond its current closure date of Oct. 8.
     urn:newsml:reuters.com:*:nL4N3LD09Q
    
    ** Qatar Airways will buy a 25% stake in Virgin Australia
from U.S. private equity firm Bain Capital, posing a tougher
contest for Qantas Airways  QAN.AX  that has dominated
Australian routes and pushed back against giving access to the
Middle Eastern carrier.
     urn:newsml:reuters.com:*:nL4N3LC1OV
    
    ** Shares of Australia's REA Group  REA.AX  rose 4% , after
the property listing firm decided to end its $8.29 billion
takeover pursuit for Rightmove  RMV.L  following a fourth bid
rejection from the British real estate portal.
     urn:newsml:reuters.com:*:nL4N3LD02W
    
    ** Qatar Airways' plans to buy a 25% stake in Virgin
Australia from U.S. private equity firm Bain Capital would go
through all required regulatory processes, including the Foreign
Investment and Review Board, Australia's Treasurer Jim Chalmers
said .
     urn:newsml:reuters.com:*:nP8N3I201O
    
    ** PepsiCo  PEP.O  is in advanced talks to acquire
tortilla-chip maker Siete Foods for more than $1 billion, the
Wall Street Journal reported on Monday, citing people familiar
with the matter.
     urn:newsml:reuters.com:*:nL4N3LC1P8

 (Compiled by Rajarshi Roy and Neil J Kanatt in Bengaluru;
Editing by Shreya Biswas)
 ((Neil.JKanatt@thomsonreuters.com;))