Deals of the day-Mergers and acquisitions

Snow Peak

20/02/2024 14:35

(Adds: Truist Financial, Fremantle, S&P Global, Whirlpool,
Updates: Capital One, Zee Entertainment)
       Feb 20 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on Tuesday:

        ** Truist Financial  TFC.N  agreed to sell the remaining
stake in its insurance brokerage business to an investor group,
in a deal valued at $15.5 billion, as it focuses on its core
banking business, at a time when regulators are proposing new
capital rules for the sector.
  
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        ** Capital One Financial's  COF.N  $35.3 billion deal
for credit card issuer Discover Financial  DFS.N  could take a
big slice out of the payments processing market dominated by
Visa  V.N  and Mastercard  MA.N , analysts said.
  
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        ** Fremantle, RTL Group's global film and television
content production business, said it had agreed to buy
Paris-based Asacha Media Group from Oaktree Capital as part of a
wider 200 million euro ($216 million) investment package.
  
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        ** S&P Global  SPGI.N  said it had agreed to buy
consensus provider Visible Alpha for an undisclosed sum, the
business intelligence company's latest deal to expand into a
data powerhouse.
  
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        ** Whirlpool  WHR.N  said it has executed a sale of 24%
of its stake in its India unit for about $468 million.
  
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        ** India's Zee Entertainment is making a final attempt
to restart discussions with Japan's Sony Group  6758.T  to
revive their $10 billion merger deal that was scrapped on Jan.
22, Indian business daily Economic Times reported, citing people
aware of the matter.
  
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    ** ANZ Group's  ANZ.AX  A$4.9 billion ($3.2 billion) buyout
of Suncorp's  SUN.AX  banking business was cleared by the
Australian Competition Tribunal, paving the way for the bank to
press on with the takeover of its significant rival.
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    ** Japanese camping goods company Snow Peak  7816.T  said a
group led by Bain Capital will launch a tender offer for its
shares at 1,250 yen ($8.31) apiece in a management buyout that
values the company at 47 billion yen ($313 million).
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    ** Russian President Vladimir Putin gave approval on Monday
for HSBC  HSBA.L  to sell its Russian unit to privately-owned
Expobank, paving the way for the British lender to extricate
itself from the Russian market after months of negotiations.
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    ** Currys  CURY.L  shares soared on Monday after Chinese
online retailer JD.com  9618.HK  joined U.S. activist investor
Elliott Advisors in a battle to buy the British electricals
group, which has already rejected Elliott's opening bid of $880
million.
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    ** Australian diversified investor Seven Group Holdings
 SVW.AX  has offered A$1.9 billion ($1.24 billion) to take full
control of building products group maker Boral  BLD.AX  in a bet
Australia's infrastructure spending boom will be maintained in
coming years.
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    ** Shares in APM Human Services International  APM.AX  were
set for a record gain, after the company rejected private equity
firm CVC Asia Pacific's A$1.47 billion ($960 million) takeover
bid that did not "sufficiently reflect its fundamental value".
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 (Compiled by Rajarshi Roy and Annett Mary Manoj in Bengaluru)
 ((AnnettMary.Manoj@thomsonreuters.com))