Deals of the day-Mergers and acquisitions

Steelcase

05/08/2025 10:41

August 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Tuesday:

** British scientific instruments maker Spectris  has agreed to a sweetened offer from U.S. private equity firm KKR  valuing it at 4.8 billion pounds ($6.4 billion), it said, withdrawing its backing for a lower offer from rival suitor Advent.

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** Saudi Arabian oil drilling group ADES International Holding <2382.SE> has agreed to buy Oslo-listed rival Shelf Drilling  for 3.9 billion Norwegian crowns ($379.33 million) in cash, the two companies said .

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** Singapore's CapitaLand Integrated Commercial Trust  said that it will buy the remaining 55% stake in Glory Office Trust from CapitaLand Development and Mitsubishi Estate for an agreed property value of S$1.05 billion ($816.55 million).

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** HNI  agreed to buy office furniture maker Steelcase  in a cash-and-stock deal worth about $2.2 billion, it said on Monday, as it looks to capitalize on more companies asking employees to return to office.

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** Japanese conglomerate Hitachi <6501.T> is considering selling its domestic home appliance business in a deal worth around 100 billion yen ($679.49 million) or more, the Nikkei newspaper reported.

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 (Compiled by Rajarshi Roy and Anshi Sancheti in Bengaluru)

 ((Anshi.Sancheti@thomsonreuters.com))