Deals of the day-Mergers and acquisitions

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

March 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Tuesday:

** State-backed Poste Italiane <PST.MI> has made a 10.8 billion euro ($12.5 billion) cash‑and‑share offer to bring Telecom Italia (TIM) <TLIT.MI> back into state hands, about three decades after an ill-fated privatisation.

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** The Toyota group's tender offer to take supplier Toyota Industries <6201.T> private at a price of 20,600 yen ($129.89) per share has been successful, the forklift maker said in a filing .

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** Japan's Sumitomo Mitsui Financial Group <8316.T> is working on plans for a possible takeover of Jefferies <JEF.N>, the Financial Times reported.

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** Gilead Sciences <GILD.O> said on Monday it would buy privately held biotech firm Ouro Medicines in a deal worth up to $2.18 billion.

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** State-run miner Coal India <COAL.NS> said on Monday it will sell up to 25% each in its units South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL) through initial public offerings or other routes.

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** Inclusive Capital Partners is looking to sell a stake in German agriculture and health firm Bayer AG <BAYGn.DE>, Bloomberg News reported on Monday.

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** Starr has completed its acquisition of Lloyd's insurer IQUW Group, the company said on Monday, finalizing a deal announced last year and creating a broader global specialty (re)insurance platform.

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** The Wawanesa Mutual Insurance Company has agreed to acquire Everest Insurance Company of Canada, a transaction that will add approximately C$305 million ($222 million) of premium to its portfolio and enables Everest Group to shed its largest remaining retail insurance operation.

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** Berkshire Hathaway <BRKa.N>, the conglomerate built by Warren Buffett, is buying a 2.49% stake in Japanese insurer Tokio Marine Holdings <8766.T> for about $1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.

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** Southeast Asia's biggest ride-hailing and delivery firm, Grab <GRAB.O>, said on Monday it would pay $600 million in cash for Delivery Hero's <DHER.DE> Foodpanda delivery business in Taiwan, in its first expansion outside the region.

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** Danone <DANO.PA> has agreed to acquire Huel for close to 1 billion euros ($1.15 billion), two sources close to the matter said on Monday, as the French food group expands further into health-focused nutrition.

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** U.S. drug distributor Cencora <COR.N> said on Monday it would buy the retina-care business of EyeSouth Partners for $1.1 billion, bolstering its specialty medical services business.

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(Compiled by Sahil Pandey and Rajarshi Roy in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))

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