Deals of the day-Mergers and acquisitions

TXNM Energy

19/05/2025 14:40

Adds: AMD, Regeneron, Blackstone, IAG; Updates: Toyota Industries

May 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday:

** AMD AMD.O has agreed to sell the server-manufacturing business of recently acquired ZT Systems to Sanmina in a $3 billion deal, making the contract manufacturer its partner for building AI systems as the chipmaker works to onshore supply chains. nL4N3RR0TQ

** Toyota Industries Corp <6201.T> plans to accept a tender offer by Toyota Motor Corp <7203.T>, the automaker's Chairman Akio Toyoda and others, and is making arrangements to announce its intention as early as May, Kyodo news agency reported.

nL1N3RR0AS

** Drugmaker Regeneron Pharmaceuticals  will buy genetic testing firm 23andMe Holding for $256 million through a bankruptcy auction, the companies said. nL4N3RR0S4

** Blackstone Infrastructure  will acquire utility company TXNM Energy  in an $11.5 billion deal, including debt, as the investment firm bets on rising U.S. electricity demand and a shift to cleaner energy sources. nL4N3RR0QF

** IAG has agreed a A$1.35 billion ($870 million) deal to acquire the underwriting business of the Royal Automobile Club of Western Australia (RAC), as well as entering into a 20-year distribution agreement for RAC branded home, motor and niche insurance products. nL6N3RR0OB

** British finance group Legal & General  said it had agreed to acquire a 75% stake in real estate investor Proprium, as the company sharpens its focus on private markets under chief executive Antonio Simoes. nL8N3RR079

** KKR  said it believed its offer for British healthcare property investor Assura  represented a "superior" proposal after rival suitor Primary Health Properties PHP.L outbid the U.S. private equity firm last week. nL4N3RR0E9

** Diageo DGE.L still has no plans to sell its well-performing beer brand Guinness, CEO Debra Crew said, when the top spirits maker said it expected to make substantial changes to its portfolio. nL8N3RR0IF

** European Union antitrust regulators will decide by June 25 whether to clear Mars' $36 billion takeover of Pringles maker Kellanova K.N, according to a European Commission filing. nL1N3RR09U

 (Compiled by Rajarshi Roy and Priyanka.G in Bengaluru)

 ((Rajarshi.Roy@thomsonreuters.com))