Deals of the day-Mergers and acquisitions

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds Salzgitter, WPP, UBS, InVivo; Updates First Citizens BancShares) March 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1600 ET on Monday:


** Salzgitter is not in discussions with Thyssenkrupp about a steel merger, its chief executive said, responding to what sources have said are renewed efforts by the German conglomerate to sell its steel division.
** British advertising group WPP said on Monday it has acquired Obviously, a New York-based social influencer marketing agency, for an undisclosed sum.
** UBS's CEO Ralph Hamers on Monday said the Swiss bank sees its government-orchestrated takeover of Credit Suisse as a growth opportunity, in an internal memo seen by Reuters.
** French agrifood group InVivo, which has said it aimed to become the world's largest producer of beer ingredient malt, has placed a bid for United Malt through its branch Malteries Soufflet, the Australian Financial Review reported on Monday.
** Blackbaud Inc rejected a buyout offer from its largest shareholder Clearlake Capital that valued the software firm at $3.78 billion.
** Brazilian state-run oil firm Petrobras said there have been no changes in plans regarding its stake in Braskem , after being questioned by the petrochemical company about statements given by its CEO to the press last week.
** Arko Corp said it had made a superior buyout offer for TravelCenters of America Inc than BP Plc , but indicated the truck stop operator did not view its proposal favorably.
** Swedish furniture giant IKEA said it had sold its factory in the Russian city of Novgorod to local firm Invest Plus, more than a year after pausing its activities in Russia over the conflict in Ukraine.
** Energy Transfer Lp said it would acquire pipeline operator Lotus Midstream in a $1.45 billion cash-and-stock deal to boost its pipeline portfolio in the U.S. Permian basin.
** Australia's Origin Energy Ltd agreed a A$15.35 billion ($10.21 billion) takeover offer from a consortium led by Canada's Brookfield , nearing the conclusion of one of the biggest private equity-backed buyouts in the country announced last year.
** CVS Health Corp said it expects to complete its acquisition of healthcare services company Signify Health this week, subject to certain conditions, potentially ending months of antitrust scrutiny on the $8 billion deal.
** Chinese property developer Shimao Group is seeking to sell its hotel in Hong Kong close to the international airport, sales agent JLL said, in a move that could help the company repay debt.
** Private equity firm CVC Capital Partners has proposed a takeover of parts of British cinema operator Cineworld Group Plc , within days of a similar offer from activist investor Elliott Management, Sky News reported.
** Chinese private refiner Zhejiang Petrochemical has agreed to sell 1 billion shares in its trading arm, Rongsheng Petrochemical , to Saudi Arabian Oil Company's Unit, Rongsheng said.
** U.S. regulators said on Monday they would backstop a deal for regional lender First Citizens BancShares to acquire failed Silicon Valley Bank, triggering an estimated $20 billion hit to a government-run insurance fund.
** Vietnam Prosperity Joint Stock Commercial Bank said it has sold a 15% stake for $1.5 billion to Sumitomo Mitsui Financial Group Inc , expanding the Japanese bank's presence in one of Asia's fastest-growing economies.
** Funeral services provider InvoCare Ltd said it has rejected a A$1.81 billion ($1.20 billion) offer from TPG Global, but noted it would be willing to provide the U.S. private equity firm with due diligence access if approached with a revised offer.
** Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB) , the two parties said on Sunday, as the emerging markets-focused lender presses ahead with plans to exit seven markets in Africa and the Middle East. (Compiled by Rajarshi Roy, Mariam E Sunny and Priyamvada C in Bengaluru)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.