Deals of the day-Mergers and acquisitions
Deals of the day-Mergers and acquisitions Adds: Duck Creek, Gallagher, Sompo
July 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Tuesday:
** Duck Creek has acquired London-based insurtech Send Technology Solutions, the insurance core systems provider said on Tuesday. nL6N4390LV
** Arthur J Gallagher & Co has acquired Burnaby, British Columbia-based Wilson M Beck Insurance Services, the brokerage said on Tuesday. nL6N4390U5
** Sompo International Holdings is to acquire workers’ compensation specialist Service Insurance Companies, subject to regulatory approval and customary closing conditions, the company said on Tuesday. nL6N439115
** ANV Group Holdings has completed its acquisition of London-based specialty insurance distribution platform Iris Insurance Brokers, the company announced on Monday. nL6N4390JJ
** ADNOC Distribution <ADNOCDIST.AD> said it had agreed to buy Shell's <SHEL.L> downstream business in South Africa for an implied enterprise value of about $1 billion, marking its largest overseas acquisition yet as it expands beyond the Gulf. nL6N43909G
** The trust bank unit of Japan's Sumitomo Mitsui Trust Group <8309.T> will acquire a 15% stake in infrastructure investment manager Morrison and make a $500 million initial commitment to two Morrison strategies, the companies said. nL1N43906Y
** Italian rocket maker Avio <AVI.MI> on Monday agreed to sell a minority stake of about 7% to private equity firm Advent International for €109.4 million ($125.18 million) to support its expansion, including in the United States. nL6N43816Y
** Vertex Pharmaceuticals <VRTX.O> will buy Crinetics Pharmaceuticals <CRNX.O> for a total equity value of about $10 billion, the companies said on Monday, adding treatments for rare hormonal diseases to its portfolio. nL4N4381BQ
** Florida-based Wright National Flood Insurance Company has entered an agreement to acquire the flood insurance policy book from First Insurance Company of Hawaii, a member of Tokio Marine North America. nL6N43814R
** Vista Equity Partners and investment firm Quinti Capital have offered to acquire French advertising-technology company Criteo <CI5A.BN>, two sources familiar with the matter said Monday. nL1N4380TJ
(Compiled by Rajarshi Roy and Nandan Mandayam in Bengaluru)