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Deals of the day-Mergers and acquisitions
Oct 22, 2024 12:04 PM

Oct 22 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on Tuesday:

** French investment company Wendel will acquire

U.S. asset investment firm Monroe Capital ( MRCC ), it said,

with an initial investment of $1.13 billion for 75% of the

company's shares.

** Ambuja Cements, India's No.2 cement maker, said

it would buy a nearly 47% stake in rival Orient Cement

for 37.91 billion rupees ($451 million), but analysts

raised doubts about the deal winning regulatory approval.

** French investment company Wendel announced its

acquisition of Monroe Capital ( MRCC ), with an initial

investment of $1.13 billion for 75% of the company's shares.

** Pub owner Hotel Property is asking shareholders

to reject the takeover bid from a consortium led by top investor

Charter Hall ( CTOUF ), saying that the offer undervalues the

firm and its prospects while questioning its timing.

** Brazilian pharmaceutical company EMS has offered to join

forces with rival Hypera to create the country's

biggest drug manufacturer, they said on Monday.

** Australia's Hotel Property Investments ( HTPIF ) said it

has recommended shareholders to reject the final takeover bid

from a consortium led by Charter Hall Retail REIT,

which valued the pub owner at A$755.8 million ($502.98 million).

** Stripe will buy stablecoin infrastructure provider

startup Bridge, the fintech said in a tweet on Monday without

disclosing the deal value.

** Funds managed by Brazilian investment bank BTG Pactual

received preliminary approval on Friday from the

country´s antitrust regulator to buy the hotel operations of

AccorInvest in Brazil for 1.7 billion reais ($300 million),

regulatory documents showed on Monday.

** Atlantic Union Bankshares ( AUB ) will buy smaller rival

Sandy Spring Bancorp ( SASR ) for $1.6 billion, they said on

Monday, as the regional lender looks to bolster its presence in

Northern Virginia and Maryland.

** Brazilian pharmaceutical company EMS has made an offer to

combine with peer Hypera, local newspaper Valor

Economico reported on Monday, as the latter's stocks plunged

following a major strategy change.

** Parcel services firm GLS, the international sister

business to the UK's Royal Mail, has agreed to buy a 20% stake

in Greece's ACS for 74 million euros ($80.06 million), their

parent International Distribution Services IDSI.L said on

Monday.

** Investment holding company Ocean Wilsons has

agreed to sell its 56.47% stake in Brazilian unit Wilson Sons

to shipping services provider SAS for 4.35 billion

reais ($764.9 million), it said on Monday.

** Nigeria has blocked Shell's sale of its entire

onshore and shallow-water oil operations, but approved a similar

deal by Exxon Mobil ( XOM ), the country's upstream oil

regulator said on Monday.

** Thoma Bravo-backed cybersecurity firm Sophos said on

Monday it would acquire Secureworks ( SCWX ) from Dell

Technologies ( DELL ) for $859 million in cash to strengthen its

product lineup for enterprise customers.

(Compiled by Rajarshi Roy and Rishi Kant in Bengaluru)

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