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Deals of the day-Mergers and acquisitions
Jun 20, 2024 2:59 AM

June 20 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on

Thursday:

** Britain's Tate & Lyle ( TATYF ) has struck a deal to buy

U.S.-based CP Kelco for $1.8 billion to boost its speciality

ingredients business and tap into demand for plant-based

products.

** British consultancy firm Alpha Financial Markets

Consulting said it has agreed to private equity firm

Bridgepoint's nearly 626 million pounds ($795.33

million) takeover proposal.

** NatWest ( NWG ) has struck a deal to acquire most of the

banking business of UK retailer Sainsbury's ( JSNSF ), the

companies said, in a deal that would increase the British

lender's assets by 2.5 billion pounds ($3.2 billion).

** Private equity firms Carlyle Group Inc ( CG ) and KKR

are the top bidders for U.S. credit card issuer Discover

Financial's $10 billion U.S. student loan portfolio, the

Financial Times reported.

** Nippon Steel's ( NISTF ) proposed acquisition of U.S. Steel

risks raising decarbonisation costs for Japan's top

steelmaker, an activist shareholder group said, urging the

company to address the takeover's impact on its climate goals.

** South Korea's SK Networks said it plans to

sell its 100% stake in SK Rent A Car Co Ltd to private equity

firm Affinity Equity Partners for 820 billion won ($592.59

million).

** Vanda Pharmaceuticals ( VNDA ) said on Wednesday that it

has rejected takeover offers from UK-based Cycle Pharmaceutical

and a revised bid from contract manufacturer Future Pak, adding

that both offers undervalue the U.S. drugmaker.

** Australia's competition regulator said the proposed

acquisition of Namoi Cotton by Singapore's Olam Agri

for A$144.9 million ($96.7 million) raised

competition concerns in the supply of cotton ginning

services.

** South Korea's SK Innovation, parent of the

country's largest oil refiner and battery maker SK On, is

expected to pursue a merger with energy affiliate SK E&S,

resulting in a 106 trillion won ($76.81 billion) asset company,

a South Korean newspaper reported.

** Business payments firm Corpay ( CPAY ) said on Wednesday

it would acquire GPS Capital Markets for $725 million as it

looks to scale its corporate payments business to nearly $2

billion by 2026.

** Vodafone Group ( VOD ) has sold a bigger-than-planned 18%

stake in India's Indus Towers, raising $1.82 billion

that will serve to reduce its debt, the British telecom group

said on Wednesday.

** Britain's competition regulator said on Wednesday it was

investigating whether Hewlett Packard Enterprise's ( HPE )

planned $14 billion acquisition of Juniper Networks ( JNPR )

would result in competition concerns in the country.

** Switzerland's financial regulator on Wednesday ruled that

the UBS takeover of Credit Suisse did not create any

competition concerns, despite recommendations from the country's

antitrust watchdog that it merited further scrutiny.

** Societe Generale has agreed to sell its

subsidiary Shine, which offers online business accounts, to

Ageras, the French bank said on Wednesday.

(Compiled by Rajarshi Roy and Arasu Kannagi Basil in Bengaluru)

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