Deals of the day-Mergers and acquisitions

Reuters
10 hours ago
Deals of the day-Mergers and acquisitions

Adds: Adobe, China International Capital Corp, Alkermes Updates:

September 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Wednesday:

** Adobe <ADBE.O> will acquire software platform Semrush <SEMR.N> for $1.9 billion, the companies said, as the Photoshop maker looks to strengthen its marketing tools and attract brands with generative artificial intelligence products.

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** State-owned China International Capital Corp (CICC) plans to merge with Dongxing Securities and Cinda Securities via an A-share swap, the company said in a filing to the Shanghai Stock Exchange.

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** Alkermes <ALKS.O> said it has sweetened its offer to buy Avadel Pharmaceuticals <AVDL.O>, valuing the sleep disorder drugmaker at up to $2.37 billion after a competing proposal from Denmark's Lundbeck HLUNa.CO.

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** North Sea oil and gas company Ithaca Energy <ITH.L> announced an agreement with oil major Shell UK <SHEL.L> to buy a 50% interest in Tobermory gas discovery, located in the West of Shetland basin, offshore Scotland.

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** Warner Bros Discovery's <WBD.O> board wants Paramount Skydance <PSKY.O> to sweeten its latest bid of $23.5 per share to about $30 apiece, Axios reported, citing sources familiar with the matter.

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** Mexico's Grupo Aeroportuario del Sureste $(ASUR)$ <ASURB.MX> signed a contract to buy the airport portfolio of Brazilian infrastructure operator Motiva <MOTV3.SA> for 11.5 billion reais ($2.16 billion), including net debt, Motiva said.

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(Compiled by Rajarshi Roy and Arnav Mishra in Bengaluru)

((Rajarshi.Roy@thomsonreuters.com))

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