Deals of the day-Mergers and acquisitions

Space Exploration Technologies

Tue 14:43

Adds: Yum Brands, SpaceX, Olin
June 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:
     
** Yum Brands YUM.N said it would sell its Pizza Hut chain for $2.7 billion, as the unit struggles with stiff competition in the fast-food market amid cautious consumer spending.
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** Elon Musk's SpaceX SPCX.O said it would acquire Anysphere, the software firm behind the popular AI coding agent Cursor, for $60 billion, in a bid to ramp up its presence in the enterprise AI market.
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** Olin OLN.N said it will acquire Huntsman HUN.N in an all-stock deal valued at about $2.43 billion, combining two U.S. chemical producers as the industry seeks scale and cost savings amid a challenging environment.
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** Budget airline Norwegian Air NAS.OL said it has agreed to buy package holiday company Nordic Leisure Travel Group for around 7.94 billion Swedish crowns ($842.90 million) in cash and stock. nL6N42O0EA
     
** Germany has officially rejected UniCredit's CRDI.MI offer to buy Commerzbank CBKG.DE, the country's finance agency said, citing a low price and concerns about what it called the Italian bank's aggressive approach. nL8N42O0AT
     
** Qualcomm QCOM.O is in talks to acquire AI chip startup Tenstorrent for $8 billion to $10 billion, the Information reported on Monday, citing a person with direct knowledge of the deal. nL4N42N1X5
     
** Brazilian asset manager IG4 has made a non-binding offer for more than half of the debt held by the creditors of sugar and ethanol firm Raizen RAIZ4.SA, local newspaper Valor Economico reported on Monday, citing sources. nL1N42N10Q
     

 (Compiled by Rajarshi Roy and Sanskriti Shekhar in Bengaluru)
 ((Sanskriti.Shekhar@thomsonreuters.com))