Deals of the day-Mergers and acquisitions

Reuters
2024-11-12
Deals of the day-Mergers and acquisitions

Updates Cigna, Morgan Stanley; adds Bain Capital, Moncler, Synposys, Mubadala Capital, Kramer Levin Naftalis

Nov 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 21:40 GMT on Monday:

** IAC IAC.O said it was exploring a spin-off of its majority stake in home services unit Angi ANGI.O after the internet holding company beat third-quarter revenue expectations on Monday thanks to steady ad demand for its biggest business, Dotdash Meredith. nL4N3MI0IZ

** U.S. law firm Kramer Levin Naftalis & Frankel and global legal giant Herbert Smith Freehills are planning to merge to create a firm with more than 2,700 lawyers, according to a joint statement on Monday. nL1N3MI0RA

** Mubadala Capital said on Monday it has an ongoing internal process to ready the sale of Brazil's Porto Sudeste, an iron-ore port it owns with commodities trader Trafigura. nL1N3MI0P1

** Synopsys SNPS.O on Monday sought European Union antitrust approval for its $35 billion cash-and-stock acquisition of engineering software maker Ansys ANSS.O, the chip design software company said. nL1N3MI0O6

** Italy's Moncler MONC.MI is not in talks to take over Burberry BRBY.L, four sources close to the matter said on Monday in response to a report by Britain's Mail on Sunday that a bid by Moncler was imminent. nL1N3MI0LB

** Bain Capital now expects to launch its tender offer for Japan's Fuji Soft 9749.T in mid-to-late November as it continues to await company approval, the private equity firm announced on Monday, amid a buyout competition with rival giant KKR KKR.N. nL4N3MI106

** Morgan Stanley's MS.N private equity arm is selling its heating, ventilation and air conditioning (HVAC) business, Sila Services, to the private equity unit of Goldman Sachs about three years after it invested in the company to take advantage of the growing interest in the sector. nL4N3MI0Z6

** Cigna Group CI.N said on Monday it is not pursuing a combination with rival health insurer Humana HUM.N, days after Donald Trump's reelection as U.S. president raised investor hopes that any merger would face far less antitrust scrutiny. nL4N3MI0UA

** Spanish infrastructure investment fund Asterion Industrial Partners and Telefonica TEF.MC agreed to sell Spanish data centre operator Nabiax to European asset manager Aermont Capital, the companies said in a joint statement. nL8N3MI0HF

** QatarEnergy will acquire a 23% stake from Chevron CVX.N in an offshore exploration block in Egyptian waters, it said. nL4N3MI0ON

** Swiss stock exchange operator SIX Group said it had agreed to buy Aquis Exchange Plc AQX.L in a cash offer that values the business at 207 million pounds ($266.91 million), sending the London-based company's shares soaring. nL8N3MI09I

** Hong Kong-listed ASMPT 0522.HK said it has ended takeover talks with a potential suitor, curbing media speculation around the semiconductor and electronics equipment maker's possible privatisation. nL1N3MI08V

** Private equity firm Genesis Capital has sweetened its bid for Pacific Smiles PSQ.AX, valuing the Australian dental chain at A$316.4 million ($208.38 million), in what it called its "best and final" offer. nL4N3MI047

(Compiled by Rajarshi Roy, Rishi Kant and Aishwarya Jain in Bengaluru)

((Rajarshi.Roy@thomsonreuters.com))

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