Deals of the day-Mergers and acquisitions

Picton Property Income

12/05/2026 21:09

Adds: KNDS, Wendy's, Paramount, CSN, Brown-Forman ; Updates:EBay

May 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Jack Daniel's maker Brown-Forman BFb.N has rejected a roughly $15 billion takeover offer from rival Sazerac, the Wall Street Journal reported citing people familiar with the matter. nL6N41P1F3

** Brazilian steelmaker CSN CSNA3.SA received non-binding offers for its cement division on Friday, a deadline the company set as it pursues divestment, two people familiar with the matter said this week. nL1N41P124

** Two key U.S. House Democrats asked Paramount Skydance PSKY.O CEO David Ellison to disclose if he or the company offered to make changes to CNN's coverage of President Donald Trump in exchange for approval of a tie-up with Warner Brothers Discovery WBD.O. nL1N41P0X0

** Activist investor Nelson Peltz's Trian Fund Management is exploring investor backing for a potential bid to take fast-food chain Wendy's WEN.O private, the Financial Times reported citing people familiar with the discussions. nL4N41P0B1

** The German state has moved closer to buying a stake in Franco-German tank maker KNDS after Berlin sent an offer letter to its German owner families, sources familiar with the matter told Reuters. nL6N41P140

** Swedish private equity group EQT AB  proposed a final 9.4 billion pound ($12.7 billion) takeover bid for Britain's Intertek , after the product testing firm rejected three previous approaches citing undervaluation.

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** FGI Worldwide, a provider of working capital financing and trade credit insurance solutions, said it had been acquired by the private equity business within Goldman Sachs Alternatives.

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** EBay EBAY.O rejected a $56 billion takeover bid from the much smaller GameStop GME.N over financing doubts, calling the proposal "neither credible nor attractive.

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** Siemens  has agreed to buy Italian rail technology Company Mer Mec in a deal worth around 1 billion euros ($1.17 billion), a person familiar with the matter told Reuters.

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** Lufthansa Group  will exercise an option to lift its stake in Italy's ITA Airways to 90%, tightening its grip on the Rome-based carrier as industry consolidation accelerates in Europe.

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** Britain's Picton Property Income  said it has agreed to a 403-million-pound ($546.4 million) all‑share takeover offer from a consortium comprising LondonMetric Property  and Schroder REIT .

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** Dubai Holding, owned by Dubai's ruler, has become Emaar Properties' EMAR.DU top shareholder after completing the purchase of a 22.27% stake from the emirate's main sovereign wealth fund, the companies announced late on Monday.

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 (Compiled by Rajarshi Roy, Apratim Sarkar and Prakhar Srivastava in Bengaluru)

 ((Rajarshi.Roy@thomsonreuters.com))