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Deals of the day-Mergers and acquisitions
May 3, 2024 3:49 AM

May 3 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on Friday:

** Sony Pictures Entertainment (SPE) and Apollo Global

Management ( APO ) have made a $26 billion cash offer for

Paramount Global ( PARAA ), the Wall Street Journal reported.

** Britain's competition watchdog said that Pennon Group's ( PEGRF )

acquisition of Sutton and East Surrey (SES) Water could

hurt the water regulator's ability to make comparisons between

water companies.

** The UK's competition regulator launched an in-depth probe

into Lindab's acquisition of British ventilation

company HAS-Vent, after the Swedish firm did not offer any

undertaking following the watchdog's initial investigation.

** Collapsed U.S. lender SVB Financial Group said on

Thursday that an entity affiliated with Pinegrove Capital

Partners will acquire its venture capital business, SVB Capital.

** The U.S. Department of Justice is seeking more details

and documentary materials as part of an antitrust review of

Nippon Steel's ( NISTF ) proposed $15 billion takeover of U.S.

Steel, the American firm said on Thursday.

** Namoi Cotton's second-largest shareholder Louis

Dreyfus Company (LDC) said it would not accept an A$136.6

million ($89.84 million) off-market takeover bid from

Singapore's Olam Agri Holdings for the Australian

cotton producer.

** U.S. investment management company Global Infrastructure

Partners and Canada's pension fund CPP Investments are nearing a

deal to buy clean energy company Allete ( ALE ), and a deal

could be announced soon, a source familiar with the matter told

Reuters.

** U.S. regulators gave the go-ahead on Thursday to Exxon

Mobil's ( XOM ) $60 billion purchase of Pioneer Natural

Resources ( PXD ), but barred Pioneer's former CEO from Exxon's

board on allegations he attempted to collude with OPEC to raise

oil prices.

** Pakistan will push back the deadline for companies to

express interest in buying national carrier Pakistan

International Airlines to May 18, the country's

privatisation minister said on Thursday.

** Sycamore Partners is one of the buyout equity firms that

have expressed interest in taking U.S. department store

Nordstrom ( JWN ) private, according to people familiar with the

matter.

(Compiled by Rajarshi Roy in Bengaluru)

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