Deals of the day-Mergers and acquisitions

Tower Semiconductor

16/08/2023 10:45

Aug 16 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 0930 GMT on
Wednesday:

    ** South Korea's Hyundai Motor Co  005380.KS  said its
Indian unit will buy automaker General Motors'  GM.N  Talegaon
plant in the Indian state of Maharashtra. urn:newsml:reuters.com:*:nL4N39X1K0
    
    ** Intel  INTC.O  and Israeli contract chipmaker Tower
Semiconductor's  TSEM.TA  proposed $5.4 billion deal has been
mutually terminated as they were unable to get timely regulatory
approvals, the companies said. urn:newsml:reuters.com:*:nL1N39X066
    
    ** Shares of Interglobe Aviation  INGL.NS  dropped 3.2% in
early trade, a day after a report said the family of IndiGo's
co-founder Rakesh Gangwal would sell shares worth up to $450
million via a block deal. urn:newsml:reuters.com:*:nL4N39X0T5
    
    ** Esmark Inc majority owner and chief executive James
Bouchard said in an interview on Tuesday that his steelmaker,
which does not publicly report its earnings, has cash for its
$7.8 billion bid for U.S. Steel Corp  X.N  sitting in his bank
account. urn:newsml:reuters.com:*:nL1N39X02U
    
    ** U.S. oil and gas producer Occidental Petroleum  OXY.N  on
Tuesday agreed to pay $1.1 billion for technology supplier
Carbon Engineering Ltd to help it develop a string of
carbon-capture sites it hopes will profit from tackling climate
change. urn:newsml:reuters.com:*:nL4N39W41U
    
    ** Private equity group TPG Capital has approached
accounting giant Ernst & Young (EY) about buying a stake in its
consulting arm, Financial Times reported on Tuesday, citing a
letter it had reviewed. urn:newsml:reuters.com:*:nL4N39W3XL

 (Compiled by Rajarshi Roy and Aishwarya Jain in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;Aishwarya.jain@thomsonreuters
.com))