Deals of the day-Mergers and acquisitions

Voestalpine AG

23/10/2024 14:40

(Adds: Frasers Group, Merck)
       Oct 23 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on
Wednesday:

        ** British sportswear and apparel retailer Frasers Group
 FRAS.L  walked away from its plans to buy Mulberry  MUL.L ,
adding it remained concerned about the governance at the luxury
brand.
  
         urn:newsml:reuters.com:*:nL4N3LZ1GW
  
    
        ** Merck  MRK.N  has acquired Modifi Biosciences for as
much as $1.3 billion, gaining access to its experimental cancer
therapies, the privately held biotech firm said.
  
         urn:newsml:reuters.com:*:nL4N3LZ1AD
  
    
    ** Austrian steelmaker Voestalpine  VOES.VI  has agreed to
sell its German subsidiary Buderus Edelstahl to investment firm
Mutares  MUXG.DE , the companies said, without disclosing the
purchase price.
     urn:newsml:reuters.com:*:nL8N3LY235
    
    ** Frontier Airlines is exploring a renewed bid for Spirit
Airlines  SAVE.N , the Wall Street Journal reported on Tuesday,
citing people familiar with the matter.
     urn:newsml:reuters.com:*:nL4N3LY2H1
    
    ** Singapore's GIC and Australia's Macquarie  MQG.AX  are
looking at selling their stake of roughly 30% in Philippine
renewable energy firm Energy Development Corp (EDC), a deal that
could fetch $2 billion, two sources with knowledge of the matter
said.
     urn:newsml:reuters.com:*:nL4N3LZ04Y
    
    ** Bankrupt Tupperware Brands agreed on Tuesday to sell its
business to a group of lenders for $23.5 million in cash and
over $63 million in debt relief, canceling its plans for an
open-market auction of its assets.
     urn:newsml:reuters.com:*:nL1N3LZ01X
    
    ** Hong Kong-listed First Pacific  0142.HK  said  that its
unit Metro Pacific Investments Corp  MPCFF.PK  is selling its
stake in Philippine Coastal Storage & Pipeline Corp, an import
terminal operator, valuing it at $296 million.
     urn:newsml:reuters.com:*:nL4N3LY2F0
    
    ** Martin Midstream Partners  MMLP.O  said on Tuesday it
stood behind its planned takeover by its largest shareholder,
after two hedge funds which made a competing bid said they
planned to try and rally shareholders to vote against the deal.
     urn:newsml:reuters.com:*:nL1N3LY0XK
    
    ** J.M. Smucker  SJM.N  said on Tuesday it would sell its
cookie brand, Voortman, to U.S.-based premium snacks maker
Second Name Brands in a $305 million all-cash deal.
     urn:newsml:reuters.com:*:nL4N3LY1DU
    
    ** Barclays  BARC.L  has re-entered negotiations with
Brookfield Asset Management  BAM.TO  about a deal to sell a
stake in its British merchant payments business to the Canadian
asset manager, Sky News reported on Tuesday.
     urn:newsml:reuters.com:*:nL4N3LY1OL

 (Compiled by Rajarshi Roy and Rishi Kant in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))