Deals of the day-Mergers and acquisitions

Synlab AG

13/03/2023 13:51

(Adds: Pfizer Inc, CNH Industrial, Advent International, Synlab
Updates: JPMorgan Chase & Co, Hyundai Motor Co)
       March 13 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on Monday :

        ** JPMorgan Chase & Co  JPM.N  is in talks to acquire
SVB Financial Group  SIVB.O  in a deal that would exclude
commercial banking unit Silicon Valley Bank, which is currently
under U.S. control, Axios reported on Monday, citing sources.
  
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        ** Hyundai Motor Co  005380.KS  said it has agreed to a
potential acquisition of General Motors'  GM.N  plant in India,
a move that could finally allow the U.S. automaker to exit a
country where it stopped making cars in 2017.
  
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        ** Pfizer Inc  PFE.N  struck a roughly $43 billion deal
for Seagen Inc  SGEN.O  to bulk up its cancer treatments
portfolio, as the drugmaker braces for a steep fall in COVID-19
product sales and loss of exclusivity for some top sellers.
  
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        ** Italian-American vehicle maker CNH Industrial
 CNHI.MI  has acquired U.S. company Augmenta, valuing its
strategic partner at $110 million, in a bid to help farmers
harness technology to increase the effectiveness of crop
spraying.
  
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        ** Buyout firm Advent International is among a list of
firms that remain in contention to buy sandwich chain Subway,
Sky News reported on Monday.
  
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        ** German laboratory equipment producer Synlab  SYAB.DE 
said that UK private equity firm Cinven had submitted a
non-binding offer to fully take over the company at 10 euros per
share.
  
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    ** Finance minister Jeremy Hunt said the rescue of SVB's UK
arm by HSBC was necessary to help protect some of Britain's most
important technology companies.
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    ** France's Sanofi  SASY.PA  has agreed to acquire
Provention Bio  PRVB.N  for $2.9 billion to bolster its work on
type 1 diabetes therapy and to strengthen its drug pipeline
following development setbacks.
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    ** Qualtrics International Inc  XM.O  said it will go
private after the customer survey software maker's controlling
shareholder, SAP SE  SAPG.DE , accepted a $12.5 billion bid from
an investor consortium led by Silver Lake and Canada Pension
Plan Investment Board (CPPIB).
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    ** Holcim  HOLN.S   announced a deal to acquire Mexican
hardware wholesaler INDAR, the building materials company's
latest acquisition in the Americas.
     urn:newsml:reuters.com:*:nTUC2DRN3D
    
    ** Shares of Australian HR-services provider IntelliHR
 IHR.AX  jumped as much as 14% to hit a near one-year high,
after suitor Humanforce Holdings raised its takeover offer by
50% to A$56.1 million ($37.38 million) to outbid a rival.
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    ** Asia-focussed telecoms tower firm Edotco Group, its
Malaysian parent Axiata  AXIA.KL  and a Japanese backer are in
talks with investors for stake sales, in a deal that could raise
about $1.2 billion, four sources familiar with the matter said.
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    ** Activist investor Carl Icahn is preparing a proxy fight
at Illumina Inc  ILMN.O , arguing that the life science maker's
acquisition of Grail Inc  GRAL.O  cost its shareholders roughly
$50 billion, the Wall Street Journal reported on Sunday.
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    ** S&P Global Commodity Insights said it has acquired
UK-based technology firm Tradenet and its live vessel-tracking
platform Market Intelligence Network (MINT) to bolster its
capability to track and analyse commodity shipments.
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    ** HYBE Co Ltd  352820.KS , the agency representing
top-selling South Korean boy band BTS, dropped its plan to take
control of K-pop pioneer SM Entertainment Co Ltd  041510.KQ ,
the company said on Sunday.
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    ** SoftBank-owned lender OakNorth Bank is in talks to buy
the British unit of failed U.S. firm Silicon Valley Bank, Sky
News reported on Sunday.
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    ** The Indian government may put a plan to sell part of its
stake in Hindustan Zinc (HZL) on hold  HZNC.NS  unless the
company calls off the nearly $3 billion cash acquisition of two
Vedanta Group subsidiaries, a senior government source said.
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    ** Vietnam Prosperity Joint Stock Commercial Bank  VPB.HM 
is nearing a deal to sell a 15% stake to Sumitomo Mitsui
Financial Group Inc 8316.T for $1.4 billion, Bloomberg News
reported on Saturday citing people familiar with the
transaction.
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 (Compiled by Rajarshi Roy and Pratyush Thakur in Bengaluru)
 ((Pratyush.Thakur@thomsonreuters.com))