Deals of the day-Mergers and acquisitions

Indus Towers

20/06/2024 21:23

(Adds Boyd Gaming and Carlyle)
       June 20 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on
Thursday:
    
    ** U.S. casino operator Boyd Gaming  BYD.N  has approached
Penn Entertainment  PENN.O  to express interest in acquiring its
peer, valued at more than $9 billion, including debt, according
to people familiar with the matter.
    
    ** Carlyle  CG.O  will form a new Mediterranean-focused oil
and gas company led by former BP  BP.L  CEO Tony Hayward after
the private equity fund agreed to acquire Energean's  ENOG.L 
assets in Egypt, Italy and Croatia for up to $945 million, the
companies said.  urn:newsml:reuters.com:*:nL1N3II05M
    
        ** Apax Partners has held initial talks with potential
advisers and investors as it considers selling Italy's Lutech,
two sources told Reuters, adding that a sale could value the IT
services provider at around 1 billion euros ($1.1 billion).
 urn:newsml:reuters.com:*:nL1N3II0EY
    
    ** BP  BP.L  has agreed to buy grain trader Bunge's  BG.N 
50% stake in Brazilian sugar and ethanol joint venture BP Bunge
Bioenergia for $1.4 billion in a bet on growing demand for
low-carbon biofuels.  urn:newsml:reuters.com:*:nL4N3II0WI
    
    ** United Arab Emirates renewable energy company Masdar said
 it has reached an agreement to buy an initial 67% stake in
Greece's Terna Energy  TENr.AT  and intends to make a mandatory
offer to buy the rest.  urn:newsml:reuters.com:*:nL4N3II0W9
    
    ** Honeywell  HON.O  has agreed to buy aerospace and defense
technology company CAES Systems for $1.9 billion from private
equity firm Advent International, it said, to give a boost to
the manufacturing giant's aerospace technologies unit.
 urn:newsml:reuters.com:*:nL4N3II0SR
    
    ** Britain's Tate & Lyle  TATE.L  has struck a $1.8 billion
deal to buy U.S.-based CP Kelco to boost its speciality
ingredients business and tap demand for plant-based
products. urn:newsml:reuters.com:*:nL4N3II0FR
    
    ** Dutch miner AMG  AMG.AS  has acquired a 15.77% stake in
London-based Savannah Resources  SAVS.L  to become the largest
shareholder in the company that is developing a lithium project
in northern Portugal, the companies said.  urn:newsml:reuters.com:*:nL8N3II0HU

    ** Private equity firms Carlyle Group Inc  CG.O  and KKR
 KKR.N  are the top bidders for U.S. credit card issuer Discover
Financial's  DFS.N  $10 billion U.S. student loan portfolio, the
Financial Times reported.  urn:newsml:reuters.com:*:nL4N3II0AF

    ** British consultancy firm Alpha Financial Markets
Consulting  AFM.L  said it has agreed to private equity firm
Bridgepoint's  BPTB.L  nearly 626 million pounds ($795.33
million) takeover proposal.  urn:newsml:reuters.com:*:nL4N3II0J0
    
    ** NatWest  NWG.L  has struck a deal to acquire most of the
banking business of UK retailer Sainsbury's  SBRY.L , the
companies said, in a deal that would increase the British
lender's assets by 2.5 billion pounds ($3.2 billion).
 urn:newsml:reuters.com:*:nL8N3II074

   ** Nippon Steel's  5401.T  proposed acquisition of U.S. Steel
 X.N  risks raising decarbonisation costs for Japan's top
steelmaker, an activist shareholder group said, urging the
company to address the takeover's impact on its climate goals.
 urn:newsml:reuters.com:*:nL1N3II09A

    ** South Korea's SK Networks  001740.KS  said it plans to
sell its 100% stake in SK Rent A Car Co Ltd to private equity
firm Affinity Equity Partners for 820 billion won ($592.59
million).  urn:newsml:reuters.com:*:nP8N3FQ01Q
    
    ** Vanda Pharmaceuticals  VNDA.O  said on Wednesday that it
has rejected takeover offers from UK-based Cycle Pharmaceutical
and a revised bid from contract manufacturer Future Pak, adding
that both offers undervalue the U.S. drugmaker.  urn:newsml:reuters.com:*:nL4N3II01T
    
    ** Australia's competition regulator said  the proposed
acquisition of Namoi Cotton  NAM.AX  by Singapore's Olam Agri
 IPO-OLAA.SI  for A$144.9 million ($96.7 million) raised
competition concerns in the supply of cotton ginning services.
 urn:newsml:reuters.com:*:nL1N3IH0UF
    
    ** South Korea's SK Innovation  096770.KS , parent of the
country's largest oil refiner and battery maker SK On, is
expected to pursue a merger with energy affiliate SK E&S,
resulting in a 106 trillion won ($76.81 billion) asset company,
a South Korean newspaper reported.  urn:newsml:reuters.com:*:nL1N3II006
    
    ** Business payments firm Corpay  CPAY.N  said on Wednesday
it would acquire GPS Capital Markets for $725 million as it
looks to scale its corporate payments business to nearly $2
billion by 2026.  urn:newsml:reuters.com:*:nL1N3IH0SP
    
    ** Vodafone Group  VOD.L  has sold a bigger-than-planned 18%
stake in India's Indus Towers  INUS.NS , raising $1.82 billion
that will serve to reduce its debt, the British telecom group
said on Wednesday.  urn:newsml:reuters.com:*:nL4N3IH0CU  
    
    ** Britain's competition regulator said on Wednesday it was
investigating whether Hewlett Packard Enterprise's  HPE.N 
planned $14 billion acquisition of Juniper Networks  JNPR.N 
would result in competition concerns in the country.
 urn:newsml:reuters.com:*:nL4N3IH0RH  

    ** Switzerland's financial regulator on Wednesday ruled that
the UBS  UBSG.S  takeover of Credit Suisse did not create any
competition concerns, despite recommendations from the country's
antitrust watchdog that it merited further scrutiny.
 urn:newsml:reuters.com:*:nL8N3IH09S
    
    ** Societe Generale  SOGN.PA  has agreed to sell its
subsidiary Shine, which offers online business accounts, to
Ageras, the French bank said on Wednesday.  urn:newsml:reuters.com:*:nFWN3IG0Z3

 (Compiled by Rajarshi Roy, Arasu Kannagi Basil and Tanay Dhumal
in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))