Deals of the day-Mergers and acquisitions

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds Next Plc, Alphabet, Mercedes-Benz, OCI NV, AMC Entertainment Holdings Inc, Credit Suisse; updates Crescent Point Energy Corp, BP) March 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:


** Britain's No. 2 Treasury official said that he does not have any immediate concerns about the execution of Switzerland's Credit Suisse rescue by UBS but will monitor the deal closely, reiterating that UK banks are "very resilient".
** Shares of AMC Entertainment Holdings Inc jumped more than 18% on Tuesday, set for their biggest gain in a month, after a report that ecommerce giant Amazon.com Inc was looking to buy the theater chain.
** Activist investor Jeff Ubben's Inclusive Capital Partners is urging Dutch fertilizer and chemical maker OCI NV to look for strategic options including asset sales, Bloomberg News reported, citing a copy of a letter sent by Ubben.
** Kuwait's sovereign wealth fund, Mercedes-Benz's third-largest shareholder, is planning to reduce its stake in the German luxury carmaker via the sale of 20 million shares, according to bookrunners.
** EU antitrust regulators gave unconditional approval for Alphabet unit Google's acquisition of Croatian maths app Photomath, the European Commission said in a statement.
** British clothing retailer Next Plc said it has bought struggling retailer Cath Kidston from its administrators for 8.5 million pounds ($10.49 million).
** Malteries Soufflet, a branch of French agribusiness InVivo, made a $1.5 billion ($998 million) offer for United Malt Group , the companies said, sending the Australian company's shares up 35%.
** Canada's Crescent Point Energy Corp said on Tuesday it will acquire Spartan Delta Corp's oil and gas assets in Alberta's Montney region for C$1.7 billion in cash ($1.24 billion).
** India's Jindal Stainless Ltd said it would acquire a 49% stake in Indonesia-based New Yaking Pte. Ltd for $157 million as it seeks to secure a supply of nickel, a key ingredient in the production of stainless steel.
** Standard General said it had filed a lawsuit against the U.S. Federal Communications Commission (FCC) over its decision to hold hearings on the hedge fund's $5.4 billion plan to buy television station operator Tegna .
** British supermarket group Asda has offered to sell 13 petrol-filling stations with attached grocery stores to secure regulatory clearance for its 611 million pound ($753 million) deal with The Co-operative Group .
** TravelCenters of America confirmed Arko Corp's $1.4 billion takeover offer is not superior to its existing proposal from British energy giant BP Plc .
** Japan's antitrust watchdog said it did not expect a merger between Microsoft Corp and Activision Blizzard to stifle competition, helping clear the way for the Xbox maker's $69 billion acquisition of the "Call of Duty" creator.
** UK's anti-trust regulator said it was looking into whether EDF's proposed acquisition of General Electric Co's France-based nuclear turbine unit could lead to competition concerns.
** BP and Abu Dhabi's state oil giant offered to jointly acquire 50% of Israeli offshore natural gas producer NewMed Energy for around $2 billion, making their entry into Israel's growing energy sector.
** Lundin Mining Corp on Monday said it would buy a majority stake in Chile's Caserones copper mine for about $950 million to expand the Canadian miner's exposure to the red metal crucial for the green energy transition.
** South Korea's Kakao Corp and affiliate Kakao Entertainment have acquired a 40% stake in K-Pop agency SM Entertainment , the agency said.
** Australia's Liontown Resources said it had knocked back an approach from the world's biggest lithium producer Albemarle Corp that valued the lithium developer at A$5.50 billion ($3.7 billion) and sent its shares rocketing 59%.
** Philippine infrastructure conglomerate Metro Pacific Investments Corp said it signed a deal to acquire a minority stake in renewable energy firm SP New Energy Corp for 2 billion pesos ($36.8 million).
** United Malt Group Ltd granted exclusive due diligence access to Malteries Soufflet, a branch of French agribusiness InVivo, after receiving a A$1.50 billion ($998 million) offer, the Australian commercial maltster said, sending its shares up 35%.
** A federal judge temporarily stopped bankrupt Voyager Digital from completing a proposed $1.3 billion sale to crypto exchange Binance.US, allowing the U.S. government more time to pursue appeals that challenge the legality of the deal.
** Warren Buffett's Berkshire Hathaway Inc boosted its ownership stake in Occidental Petroleum Corp to about 23.6% after buying nearly 3.7 million additional shares. (Compiled by Rajarshi Roy and Ankit Kumar in Bengaluru)

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