Deals of the day-Mergers and acquisitions

Schaeffler AG

18/12/2023 14:39

(Adds: Adobe, LondonMetric Property, Nippon Steel, Alteryx,
HawkEye360, Masonite International, Devyani International,
Wyndham Hotels & Resorts, Credit Agricole  Updates: OCI)
       Dec 18 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on Monday:

        ** The European Union's antitrust chief Margrethe
Vestager said that she had noted Adobe's  ADBE.O  decision to
drop its planned $20 billion cash-and-stock deal for cloud-based
designer platform Figma.
  
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        ** British landlord LondonMetric Property  LMPL.L  is in
talks to merge with London-based real estate investment trust
LXI  LXIL.L , Bloomberg News reported, citing people with
knowledge of the discussions.
  
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        ** Japan's Nippon Steel  5401.T  clinched a deal to buy
U.S. Steel  X.N  for $14.9 billion in cash, prevailing in an
auction for the 122-year-old iconic steelmaker over rivals
including Cleveland-Cliffs  CLF.N  and ArcelorMittal  MT.LU .
  
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        ** Alteryx  AYX.N  said it had agreed to be acquired by
private-equity firms Clearlake Capital Group and Insight
Partners, in a deal valued at $4.4 billion including debt.
  
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        ** Signals analytics firm HawkEye360 said it acquired
Maxar's radio frequency business unit that was formed less than
a year ago, adding more spectrum-scanning satellites to its
fleet.
  
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        ** Door maker Masonite International  DOOR.N  said it
will acquire PGT Innovations  PGTI.N , a manufacturer and
supplier of windows and doors, for $3 billion in a bid to expand
its business.
  
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        ** India's Devyani International  DEVY.NS  said it will
begin operating KFC outlets in Thailand after it acquired
Restaurants Development Co in a deal worth $128.9 million,
expected to be completed by March 2024.
  
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        ** Budget hotel operator Wyndham Hotels & Resorts  WH.N 
 asked its shareholders to reject Choice Hotels  CHH.N  takeover
offer, citing regulatory review of up to 24 months and lower
valuation.
  
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        ** The European Commission said that it had cleared
Credit Agricole's  CAGR.PA  plan to buy Degroof Petercam in a
deal valuing the Belgian firm at 1.5 billion euros ($1.64
billion), saying the deal did not raise any competition issues.
  
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        ** OCI's  OCI.AS  shares jumped nearly 12%  after the
European chemicals maker said it had agreed to sell its stake in
Iowa Fertilizer Company to Koch Ag & Energy Solutions for $3.6
billion.
  
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    ** German auto supplier Schaeffler  SHA_p.DE  has sold its
Russian business to a company called PromAvtoConsult, Russian
company filings showed, the latest Western company to exit the
country since Moscow's February 2022 invasion of Ukraine.
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    ** Iliad  ILD.PA  said it had submitted a proposal to
Vodafone  VOD.L  to merge their Italian units, a move that would
combine its fast-growing consumer base with the British
company's strength in business in a highly competitive market.
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    ** IBM  IBM.N  said that it would buy Software AG's
 SOWGn.DE  enterprise integration platforms for 2.13 billion
euros ($2.33 billion) to bolster its artificial intelligence and
hybrid cloud offerings.
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    ** Consumer goods giant Unilever  ULVR.L  said it would sell
Elida Beauty, its non-core beauty and personal care division, to
U.S. private equity firm Yellow Wood Partners.
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    ** Shares of Australia's Pacific Smiles Group  PSQ.AX  rose
nearly 19% and were on track for their best day in 44 months,
after the dental centre operator received a A$223.4 million
($150 million) takeover offer from Genesis Capital Manager I.
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    ** Mitsubishi UFJ Financial Group  8306.T  will buy
Australian pension administration firm Link Administration
 LNK.AX  in a A$1.2 billion ($802.7 million) deal, as Japan's
largest banking group boosts its fund administrator business.
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    ** Australian construction materials firm Adbri  ABC.AX 
said it is in exclusive talks with CRH  CRH.N  and the Barro
Group for the two companies to buy shares that Barro does not
already own, in a deal worth about A$2.1 billion ($1.41
billion).
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 (Compiled by Rajarshi Roy and Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))