Deals of the day-Mergers and acquisitions

Petershill Partners

04/09/2024 21:11

(Adds U.S. Steel, Verizon, Williams Companies, Commerzbank and
Distilled)
       Sept 4 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 20:00 GMT on
Wednesday:

        **  The Biden administration is close to announcing it
will block Nippon Steel's 5401.T acquisition of U.S. Steel X.N,
two sources familiar with the situation said on Wednesday, amid
growing bipartisan political opposition to the $14.9 billion
deal.  urn:newsml:reuters.com:*:nL4N3KM0U8
  
        
  
        ** Verizon  VZ.N  is in advanced talks to acquire
Frontier Communications FYBR.O in a deal that would bolster its
fiber network to compete with rivals including AT&T  T.N , the
Wall Street Journal reported on Wednesday, citing people
familiar with the matter.  urn:newsml:reuters.com:*:nL4N3KM1JZ 
  
        
  
        ** U.S. pipeline operator Williams Companies  WMB.N  on
Wednesday denied extending any offer to oil and gas
transportation firm Targa Resources  TRGP.N , after a report
said the latter had rebuffed a takeover interest from the
former.  urn:newsml:reuters.com:*:nL4N3KM1FC
  
        
  
        ** Germany will decide shortly how to sell down its
Commerzbank  CBKG.DE  stake, finance ministry sources said, as
the lender on Wednesday hailed the plan as a sign its business
was back to normal.  urn:newsml:reuters.com:*:nL8N3KM0QP
  
        
  
        ** The shareholders of Distilled, which owns popular
property site Daft.ie, are exploring options for their holdings
including a possible sale that could value the business at as
much as 600 million euros ($662.82 million), four people with
knowledge of the matter told Reuters.  urn:newsml:reuters.com:*:nL8N3KL1CR
  
        
  
    ** Nordstrom's  JWN.N  founding family has made a bid to
take the department store chain private by offering $23 per
share in cash for the stake they do not already own, a filing
showed.  urn:newsml:reuters.com:*:nL4N3KM12V
    
    ** South Africa's second-biggest grocery group SPAR  SPPJ.J 
has sold its loss-making business in Poland to local Polish
retailer Specjal for 185 million rand ($10 million), it said. 
 urn:newsml:reuters.com:*:nL8N3KM0OL
    
    ** Malaysia's IHH Healthcare  IHHH.KL , an operator of
private hospitals in Asia, said it is acquiring local private
hospital chain Island Hospital in a deal valuing the latter at
3.92 billion ringgit in cash ($901.15 million).  urn:newsml:reuters.com:*:nL4N3KM0R8
    
    ** Investment firm Oaktree Capital Management has signed a
binding agreement to sell Italian bank Banca Progetto to funds
managed by private equity firm Centerbridge Partners, the bank
said in a statement.  urn:newsml:reuters.com:*:nS8N3IT08G 
    
    ** Blackstone  BX.N  will buy Australian data centre group
AirTrunk for an implied enterprise value of over A$24 billion
($16.10 billion), it said, in what would be Blackstone's largest
investment in the Asia Pacific region.  urn:newsml:reuters.com:*:nL4N3KM0OI 

    ** British warehouse owner Segro  SGRO.L  will buy Tritax
EuroBox  EBOX.L  in a deal valuing the European logistics real
estate firm at about 1.10 billion pounds ($1.44 billion)
including debt, the companies said.  urn:newsml:reuters.com:*:nL4N3KM0I1
    
    ** U.S. private equity firm KKR  KKR.N  plans to launch its
tender offer for Fuji Soft  9749.T  shares on Thursday, from its
original plan of around mid-September, Bloomberg reported,
citing multiple unnamed sources.  urn:newsml:reuters.com:*:nL4N3KM0L9
    
    ** British investment group Petershill Partners  PHLL.L 
said it has sold its entire stake in investment manager LMR
Partners back to the company for $258 million.  urn:newsml:reuters.com:*:nL4N3KM0IH
    
    ** Australia's competition watchdog said it is seeking views
from the market on French spirits maker Pernod Ricard SA's
 PERP.PA  proposed deal to sell the majority of its domestic
wine portfolio to Carlyle Group's Accolade Wines.  urn:newsml:reuters.com:*:nL4N3KM0D5
    
    ** Dutch crop trader Louis Dreyfus said its takeover offer
for Namoi Cotton  NAM.AX  is no longer subject to conditions,
following approval from Australia's Foreign Investment Review
Board and the local competition regulator.  urn:newsml:reuters.com:*:nL4N3KM0AV

    ** Australia's Orora  ORA.AX  said it would sell its North
American packaging business to U.S. private equity firm Clayton,
Dubilier & Rice-backed Veritiv for an enterprise value of A$1.78
billion ($1.19 billion), sending its shares soaring. 
 urn:newsml:reuters.com:*:nL4N3KL1J6
    
    ** Japan's biggest steelmaker Nippon Steel  5401.T , which
is seeking to acquire U.S. Steel  X.N , said if its purchase
goes ahead core senior management as well as a majority of board
members at the U.S. company would be U.S. citizens.  urn:newsml:reuters.com:*:nL1N3KM00C
    
    ** Enterprise cloud firm Salesforce  CRM.N  on Tuesday said
it has agreed to acquire Tenyx, which develops artificial
intelligence-powered voice agents, to advance its AI-driven
solutions.  urn:newsml:reuters.com:*:nL4N3KL1EE

 (Compiled by Rajarshi Roy, Vallari Srivastava and Abhinav
Parmar in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com))