Deals of the day-Mergers and acquisitions

PSC Insurance

09/05/2024 15:57

(Adds: PlayAGS, Sony Group, Fincantieri  Updates: BBVA,
Blackstone)
       May 9 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on
Thursday:

        ** Gaming equipment supplier PlayAGS  AGS.N  said it
would be acquired by affiliates of Brightstar Capital Partners
in a roughly $1.1 billion deal.
  
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        ** Spanish bank BBVA  BBVA.MC  launched a hostile 12.23
billion euro ($13.1 billion) all-share takeover bid for Sabadell
 SABE.MC  in a surprise move that triggered immediate opposition
from the government.
  
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        ** Sony Group  6758.T  and other parties are considering
buying online comic store operator Infocom Corp  4348.T  in a
deal worth up to 200 billion yen ($1.28 billion), Bloomberg News
reported.
  
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    ** Italian shipbuilder Fincantieri  FCT.MI  is set to buy
Leonardo's  LDOF.MI  submarine business, known as Whitehead
Alenia Sistemi Subacquei (WASS), in a deal expected to be
announced later in the day, two sources close to the situation
said.
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        ** Blackstone looked set to clinch its $1.57 billion
deal for Hipgnosis Songs Fund after Apollo-backed Concord said
it would stick with its lower bid for the music rights owner of
artists such as Shakira and Red Hot Chili Peppers.
  
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    ** SoftBank  9434.T  CEO Junichi Miyakawa said that the
Japanese telecommunications firm is in talks with South Korea's
Naver  035420.KS  over control of LY Corp  4689.T , which
operates the popular messaging app Line.
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    ** Japan's top steelmaker, Nippon Steel  5401.T , is
sticking to its plan to close a deal by year-end to buy U.S.
Steel  X.N , which it expects to boost output and profits, the
company said, despite resistance to the transaction in the U.S.
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    ** British oilfield services and engineering firm John Wood
Group  WG.L  rejected a potential 1.42 billion pound ($1.77
billion) buyout proposal from Dubai-based firm Sidara on
Wednesday, saying it "undervalued Wood and its future
prospects".
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    ** Shares of PSC Insurance Group  PSI.AX  rose to a record
high  after UK-based broking business Ardonagh Group agreed to
buy the Australian company in a deal valuing it at A$2.26
billion ($1.49 billion) amid rising confidence in the sector.
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    ** Occidental Petroleum  OXY.N  hopes to close its
acquisition of shale oil producer CrownRock before its
second-quarter earnings call, CEO Vicki Hollub said on
Wednesday. The event typically falls in early August.
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 (Compiled by Rajarshi Roy in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))