Deals of the day-Mergers and acquisitions

Schaeffler AG

18/12/2023 22:16

(Adds PDVSA, Shopee, ADNOC, Brookfield, Origin  Energy, Casino,
Coupang, ODP Corp, Archer-Daniels-Midland; Updates Adobe, OCI,
LondonMetric)
       Dec 18 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 2200 GMT on Monday:
    
    ** Global grains merchant Archer-Daniels-Midland  ADM.N 
said on Monday it will acquire Revela Foods, a Wisconsin-based
developer and manufacturer of dairy flavor ingredients and
solutions, to bolster the company's flavors portfolio.
 urn:newsml:reuters.com:*:nL4N3DD41F
 
    ** Venezuelan state oil company PDVSA and Spain's Repsol
 REP.MC  on Monday signed an agreement amending the terms of
their Venezuelan joint venture, aiming to ramp up its crude and
gas output and accelerate debt repayment.  urn:newsml:reuters.com:*:nL1N3DD1JO
 
    ** E-commerce firm Shopee bought Brazilian fintech Blu's
local credit arm, according to a regulatory filing on Monday, as
the Singapore-based company aims to offer credit directly to
customers living in Latin America's largest economy.
 urn:newsml:reuters.com:*:nL1N3DD26I
 
    ** The Abu Dhabi National Oil Co (ADNOC) is preparing to
submit a fresh proposal of about 60 euros ($65.53) per share for
Covestro AG  1COV.DE , which could value the German plastics and
chemicals maker at around 11.3 billion euros, Bloomberg News
reported, citing people familiar with the matter.  urn:newsml:reuters.com:*:nL4N3DD3SP

    ** Adobe  ADBE.O  on Monday shelved its $20 billion deal for
cloud-based designer platform Figma, pointing to "no clear path"
for antitrust approvals in Europe and the UK for what would have
been among the biggest buyouts of a software startup.
 urn:newsml:reuters.com:*:nL4N3DD2R5
    
    ** British landlord LondonMetric Property is in talks to
merge with London-based real estate investment trust LXI
 LXIL.L  to create a firm valued at 3.9 billion pounds ($4.94
billion), the companies said on Monday.  urn:newsml:reuters.com:*:nL4N3DD35I
    
    ** Canada's Brookfield  BN.TO  is working to sell renewable
assets owned by its company Saeta Yield worth 1.5 billion euros
($1.64 billion) including debt, according to five people with
knowledge of the deal.  urn:newsml:reuters.com:*:nL8N3DA5TZ
    
    ** Australia's Origin Energy  ORG.AX  on Monday increased
its stake in UK-based renewable energy firm Octopus Energy by 3%
to 23%, by investing 280 million pounds ($354.12 million).
 urn:newsml:reuters.com:*:nL4N3DD1WG
    
    ** French retailer Casino said on Monday it had entered into
exclusive talks to sell all of its big stores to Les
Mousquetaires and Auchan Retail.  urn:newsml:reuters.com:*:nL8N3DD3ZY
    
    ** New York-listed e-commerce giant Coupang  CPNG.N  plans
to buy Farfetch Holdings  FTCH.N  in a deal that will provide
the struggling online luxury fashion retailer with $500 million
in capital to stay in operation, the companies said in a joint
statement.  urn:newsml:reuters.com:*:nL4N3DD34E
    
    ** AREX Capital is urging office supply company ODP Corp
 ODP.O  to separate its brick and mortar retail unit and sell
its procurement platform Varis, arguing that splitting apart the
company's businesses would boost its share price by at least
50%.  urn:newsml:reuters.com:*:nL1N3DD26C
    
    ** 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 .  urn:newsml:reuters.com:*:nL1N3DD0LB
    
    ** 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.
 urn:newsml:reuters.com:*:nL4N3DD2V0

    ** 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.  urn:newsml:reuters.com:*:nL1N3DC0FY

    ** 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.  urn:newsml:reuters.com:*:nL4N3DD2HV
    
    ** 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.  urn:newsml:reuters.com:*:nL4N3DD2F5
    
    ** 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.  urn:newsml:reuters.com:*:nL4N3DD2D2
    
    ** 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.
 urn:newsml:reuters.com:*:nL8N3DD2WI
    
    ** OCI's  OCI.AS  shares jumped by almost a quarter on
Monday after the Netherlands-based chemicals maker announced its
second stake sale in four days and said the pair of deals would
bring it $7.2 billion in tax-free cash proceeds.  urn:newsml:reuters.com:*:nL1N3DD15I
    
    ** 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.
 urn:newsml:reuters.com:*:nL1N3DD0K0
    
    ** 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.
 urn:newsml:reuters.com:*:nL8N3DD1BO
    
    ** 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.  urn:newsml:reuters.com:*:nL4N3DD1E9
        
    ** 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.  urn:newsml:reuters.com:*:nL4N3DD1BL
    
    ** 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.
 urn:newsml:reuters.com:*:nL4N3DD0UJ
    
    ** 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.
 urn:newsml:reuters.com:*:nL1N3DC0FG
    
    ** 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).  urn:newsml:reuters.com:*:nL1N3DC0H0

 (Compiled by Rajarshi Roy and Aatreyee Dasgupta in Bengaluru)
 ((Aatreyee.Dasgupta@thomsonreuters.com))