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Deals of the day-Mergers and acquisitions
Mar 5, 2024 3:48 AM

March 5 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 1030 GMT on Tuesday:

** Singapore's competition watchdog said it has granted

approval for the merger between Air India and Vistara, a joint

venture between Indian conglomerate Tata Group and Singapore

Airlines, subject to certain conditions.

** U.S.-based communications equipment firm Viavi Solutions

Inc ( VIAV ) has agreed to buy British telecommunications

testing firm Spirent Communications ( SPNUF ) for about 1.01

billion pounds ($1.28 billion), the companies said.

** Portuguese industrial group Bondalti has launched a

takeover bid worth 329 million euros ($357 million) for all

shares of Barcelona-based chemical company Ercros, it

said in a filing to Spanish stock market supervisor CNMV.

** Norsk Hydro's ( NHYKF ) renewable energy unit Hydro Rein

has agreed with Swedish renewables developer IOWN Energy to buy

an 80% stake in a 2.4 gigawatt portfolio of planned wind power

projects in Sweden and Norway, it said.

** French media group Vivendi's Canal+ has raised

its offer to buy all the shares of South Africa's MultiChoice

that it does not already own, the companies said.

** Vitol-backed energy storage company VTTI is close to

acquiring a majority stake in Italy's biggest liquefied natural

gas import terminal from Exxon Mobil ( XOM ) and QatarEnergy,

two sources with knowledge of the matter said on Monday.

** JetBlue Airways ( JBLU ) and Spirit Airlines ( SAVE )

scrapped their $3.8-billion merger agreement on Monday, with the

low-cost carriers saying there was no path forward after a U.S.

judge blocked the deal in January on anti-competition concerns.

** The CEO of Brazilian development bank BNDES, Aloizio

Mercadante, said on Monday the company can sell its stakes in

other companies if an opportunity appears and is a good deal.

** EU antitrust regulators last month temporarily halted

their investigation into British Airways owner IAG's

400-million-euro ($434.28 million) bid to buy out Air Europa,

according to a European Commission update on its site on Monday.

** A senior Nippon Steel ( NISTF ) executive told Reuters he

is set to meet the United Steelworkers (USW) union chief this

month to seek support for acquiring U.S. Steel, expressing

confidence the deal can be finalised by the end of September.

** Macy's shares jumped 16% on Monday after investors

Arkhouse Management and Brigade Capital sweetened their

take-private bid over the weekend, valuing the U.S. department

store operator at $6.58 billion.

(Compiled by Rajarshi Roy and Vallari Srivastava in Bengaluru)

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