Deals of the day-Mergers and acquisitions

T-Gaia

30/09/2024 14:49

(Adds: Marsh McLennan, DirecTV, AT&T, Frasers, Central Group   
 Updates: Verizon Communications, REA Group)
       Sept 30 (Reuters) - The following bids, mergers,
acquisitions, and disposals were reported by 1330 GMT on Monday:
    
        ** Verizon Communications  VZ.N  will sell thousands of
mobile phone towers to digital infrastructure firm Vertical
Bridge in a $3.3 billion deal, it said, unlocking more cash for
the dominant U.S. wireless carrier to bolster its network.
 urn:newsml:reuters.com:*:nL4N3LC0RR
        
  
        ** Insurance brokerage Marsh McLennan  MMC.N  said it
has agreed to buy smaller rival McGriff Insurance Services for
$7.75 billion, as the industry gears up for higher spending on
policies from businesses amid an improving economic
outlook. urn:newsml:reuters.com:*:nL4N3LC0XH
        
  
        ** Rupert Murdoch-owned Australian property listing firm
REA Group  REA.AX  said it is dropping its pursuit of real
estate portal Rightmove  RMV.L  after the UK company rejected
its sweetened $8.29 billion fourth proposal earlier in the
day. urn:newsml:reuters.com:*:nL4N3LC0W4
        
  
        ** DirecTV agreed to buy EchoStar's  SATS.O  satellite
television business that includes Dish TV, capping decades of
on-and-off talks to create one of the nation's largest pay TV
distributors with a combined 20 million subscribers. urn:newsml:reuters.com:*:nL4N3L5076
        
  
        ** AT&T  T.N  said it would sell its entire 70% stake in
satellite TV provider DirecTV to private equity firm TPG  TPG.O 
for $7.6 billion, exiting a business marked by declining
distributions for the telecom operator. urn:newsml:reuters.com:*:nL4N3LC0S0
        
  
        ** British sportswear and apparel retailer Frasers
 FRAS.L  has proposed a possible 83 million pound ($111 million)
takeover of struggling luxury brand Mulberry  MUL.L , saying it
wants to avoid "another Debenhams situation". urn:newsml:reuters.com:*:nL4N3LC0QI
        
  
        **  Thai retail and property conglomerate Central Group
said it will take over the operational business of Magazine zum
Globus AG, which operates luxury department stores in
Switzerland. urn:newsml:reuters.com:*:nL8N3LC0I5

    ** Bain Capital launched a tender offer for Japanese cell
phone retailer T-Gaia  3738.T  at 2,670 yen per share, a 26.5%
discount to T-Gaia's Friday closing price. urn:newsml:reuters.com:*:nL1N3LC06P
    
    ** South Korea's SK Inc  034730.KS  said that it has picked
private equity group Hahn & Company as the preferred bidder to
buy its unit SK Specialty, which produces gases used to make
semiconductors. urn:newsml:reuters.com:*:nL1N3LC05M
    
    ** Republican presidential candidate Donald Trump will on
Sunday reiterate a pledge that if elected, he will block Nippon
Steel's  5401.T  planned purchase of U.S. Steel  X.N , according
to an advance excerpt of his speech to a Pennsylvania
rally. urn:newsml:reuters.com:*:nT5N3DT00K

 (Compiled by Rajarshi Roy and Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com))