Deals of the day-Mergers and acquisitions

Sculptor Capital Management

27/10/2023 14:39

(Adds: Sculptor Capital Management  Updates: SQM, Western
Digital)
       Oct 27 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on Friday:

        ** Sculptor Capital Management  SCU.N  agreed to a
sweetened buyout deal from Rithm Capital  RITM.N  that values
the hedge fund at about $719.8 million, and secured the backing
of its founder who had earlier opposed the acquisition.
  
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        ** Hancock Prospecting, owned by Australia's richest
person Gina Rinehart, threatened to torpedo a deal by the
world's second biggest lithium chemicals maker, Chile's SQM
 SQMA.SN , for an Australian lithium miner.
  
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        ** Merger talks between Western Digital  WDC.O  and
Japan's Kioxia Holdings have stalled, two sources said ,as
opposition from Kioxia investor SK Hynix has complicated the
on-again, off-again deal to create a memory chip giant.
  
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    ** Portugal's largest utility EDP  EDP.LS  said it had
agreed to sell 50% of its unit Abono, which has two coal-fired
power plants in northern Spain, and plans to convert one of the
plants to be fired with gas until mid-2025 and close the other.
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    ** United Parcel Service  UPS.N  on Thursday said it is
spending more than $1 billion this quarter to buy two companies
it hopes will bolster profit and volumes amid bare-knuckled
market share battles with delivery rivals like FedEx  FDX.N .
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 (Compiled by Rajarshi Roy and Arasu Kannagi Basil in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))