Deals of the day-Mergers and acquisitions

Reuters
25 Feb
Deals of the day-Mergers and acquisitions

Adds: Talanx, Thermo Fisher Scientific, Dye & Durham, Multiply Group, Tesla, Baidu Updates:

Feb 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Tuesday:

** Talanx acquired the Ecuadorian entity last year through the acquisition of various Liberty Mutual operations in Latin America. Talanx said the sale of HDI Seguros SA will enable the retail international division to consolidate its portfolio in Latin America, as well as to focus on profitable growth in large markets as according to the group's strategy.

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** Contract drug manufacturer Thermo Fisher Scientific < TMO.N > said it will buy Solventum's SOLV.N purification and filtration business for about $4.1 billion.

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** Software maker Dye & Durham has received an unsolicited bid to take it private in a deal valued at C$1.34 billion, or C$20 per share, the Canadian company said , without disclosing the details of the bidder.

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** Abu Dhabi's investment holding firm Multiply Group has agreed to buy a 67.9% stake in Spanish fashion retail company Tendam, which owns Cortefiel and Pedro del Hierro brands, among others, from international funds CVC And PAI Partners, Multiply and Tendam said.

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** U.S. carmaker Tesla < TSLA.O > will acquire parts of the insolvent German high-tech parts maker Manz AG < M5ZG.DE> , including more than 300 employees at its site in Reutlingen city in the southwest, the German company said.

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** Talanx acquired the Ecuadorian entity last year through the acquisition of various Liberty Mutual operations in Latin America. Talanx said the sale of HDI Seguros SA will enable the retail international division to consolidate its portfolio in Latin America, as well as to focus on profitable growth in large markets as according to the group's strategy.

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** Baidu < 9888.HK > said it has bought JOYY's > China live-streaming business for about $2.1 billion, reviving a deal that fell through a year ago, as the search giant doubles down on the fast-growing digital video market.

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** Nippon Steel 5401.T plans to use its current merger agreement to acquire U.S. Steel X.N as a starting point for talks with the U.S. government, President Tadashi Imai said, as it aims to revive the deal.

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** Swedish telecoms group Telia Company said it has agreed to sell its TV & Media business to Norway's Schibsted Media at an enterprise value of 6.55 billion Swedish crowns ($614.99 million) on a cash and debt-free basis.

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** China Evergrande Group's <3333.HK> electric vehicle $(EV)$ unit said it agreed to sell its 20% stake in a Sweden-based real estate property lessor for 60 million krona ($5.63 million).

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** Spanish telecoms company Telefonica > has sold its unit in Argentina for $1.245 billion to Telecom Argentina TECO2m.BA as part of its strategy to gradually reduce its exposure to Latin America, it said on Monday evening.

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(Compiled by Rajarshi Roy and Kamal Choudhury in Bengaluru)

((Rajarshi.Roy@thomsonreuters.com;))

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