Deals of the day-Mergers and acquisitions

Reuters
07-09
Deals of the day-Mergers and acquisitions

Adds: Asian Paints Updates: Merck

June 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:

** Asian Paints <ASPN.NS> said it sold its entire 4.42% stake for 7.34 billion rupees ($85.69 million) in smaller rival Akzo Nobel India <AKZO.NS> via bulk deals.

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** Merck <MRK.N> will buy UK-based Verona Pharma <VRNA.O> for about $10 billion, the companies said, strengthening the U.S. firm's presence in respiratory treatments as it readies for the patent expiry of its blockbuster cancer drug.

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** Uniper <UN0k.DE> said it would sell its 18.26% shareholding stake in AS Latvijas Gaze to Energy Investments SIA, as the German utility fulfills one of the conditions of a government bailout it received in 2022.

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** Italy's Leonardo <LDOF.MI> has agreed to buy Sweden's Axiomatics, a source told Reuters , marking a further step in the company's efforts to expand its cybersecurity business.

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** Tokio Marine Group's corporate member, Tokio Marine Underwriting Limited (TMUL), has launched an offer to buy out Names capacity on Syndicate 510, three senior market sources told The Insurer.

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** Parcel locker firm InPost <INPST.AS> has acquired Spanish delivery company Sending to enhance its presence in the Iberian Peninsula and integrate the 24-hour door-to-door delivery service previously provided by Sending, it said.

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** Meta Platforms <META.O> has acquired a nearly 3% stake in eyewear maker EssilorLuxottica <ESLX.PA>, a source told Reuters on Tuesday, amid growing consumer interest in AI-powered wearable devices.

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(Compiled by Rajarshi Roy and Katha Kalia in Bengaluru)

((Rajarshi.Roy@thomsonreuters.com))

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