Deals of the day-Mergers and acquisitions
02/05/2024 11:41
May 2 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 0930 GMT on
Thursday:
** An international bidding war has deepened for Australia's
Namoi Cotton NAM.AX with Singapore's Olam Agri Holdings
IPO-OLAA.SI lobbing an A$136.6 million ($89.13 million)
takeover offer that trumps a Dutch-led bid made this week.
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** Shares in Spain's Sabadell SABE.MC jumped around 8% in
early trading after it received a merger proposal from its
bigger rival BBVA BBVA.MC .
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** Raiffeisen Bank International's (RBI) RBIV.VI
acquisition of a stake in construction firm Strabag STRV.VI
linked to a Russian tycoon remains under careful assessment for
any compliance risk, the biggest Western bank in Russia said.
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** Britain's Co-Op Bank said talks for its takeover by
Coventry Building Society were "well advanced" and its
multi-year revamp was now materially complete, after reporting
first quarter financial performance in line with expectations.
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** Abu Dhabi-based Emirates Telecommunications (e&)
EAND.AD said it has not entered into any negotiation or
agreement to acquire European cable and pay TV operator United
Group, following media reports of a potential bid.
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** Swiss telecoms group Swisscom SCMN.S said its takeover
of Vodafone Italia is on track and expected to be completed in
the first quarter of 2025.
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** Exxon Mobil Corp XOM.N is set to close its $60 billion
acquisition of Pioneer Natural Resources PXD.N after an
agreement with antitrust enforcers that will keep former Pioneer
CEO Scott Sheffield off its board, the Wall Street Journal
reported on Wednesday, citing people familiar with the matter.
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(Compiled by Rajarshi Roy in Bengaluru)
((Rajarshi.Roy@thomsonreuters.com;))