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Deals of the day-Mergers and acquisitions
Aug 1, 2024 3:05 AM

Aug 1 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on

Thursday:

** Cellnex, Europe's largest mobile phone tower

operator, said it was in advanced negotiations to sell its

Austrian unit after receiving binding offers, triggering a rise

in shares.

** Ayala Corp, the Philippines' oldest conglomerate,

is exploring selling a minority stake in Ayala Healthcare

Holdings (AC Health) in a potential deal that could value its

healthcare arm at up to $500 million, two people said.

** Japan's Otsuka Pharmaceutical said it agreed to

pay more than $1 billion to acquire Jnana Therapeutics as it

looks to expand its drug pipeline and research base in the

Boston area.

** The Australian competition watchdog will not oppose Louis

Dreyfus' proposal to take over Namoi Cotton, the

regulator said, a month after it raised concerns over a similar

buyout bid by a Singaporean entity.

** U.S. businessman Elon Musk said his artificial

intelligence startup xAI is not considering an acquisition of

chatbot startup Character.AI, according to a statement on social

media website X.

** Australia's Pacific Smiles ( PCSGF ) recommended that

shareholders vote in favour of a sweetened bid of A$327.1

million ($214.05 million) by National Dental Care (NDC) over a

competing takeover offer from U.S.-based Genesis Capital.

** Chevron Corp's ( CVX ) proposed purchase of oil producer

Hess faces a lengthy new delay, with an arbitration

panel not expected to hear a rival's claim to Hess' stake in a

Guyana oil-producing joint venture until May 2025, the company

said.

** Egyptian microfinance lending and payments company

MNT-Halan's recent purchase of Turkey's biggest nonbank

micro-leasing company will help develop its factoring business

in Egypt while expanding consumer credit in Turkey, its chief

executive said.

** Italian app developer Bending Spoons has bought

file-sharing platform WeTransfer, the companies said in a joint

statement, as the Milan-based tech company presses ahead with a

string of deals for software firms.

** French retailer Casino no longer considers

Brazil's GPA a strategic holding and is open to

selling its remaining 22.5% stake in the company, an executive

at Casino's financial communications department said.

** UK's John Wood Group extended the deadline by

which Dubai-based engineering and consulting firm Sidara would

need to make a firm offer for the company to not later than

August 9.

(Compiled by Rajarshi Roy and Harshita Mary Varghese in

Bengaluru)

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