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Deals of the day-Mergers and acquisitions
Aug 14, 2024 2:55 AM

Aug 14 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on

Wednesday:

** Betting firm Flutter Entertainment is in talks

to buy Snaitech, one of Italy's largest gambling companies, from

UK's Playtech ( PYTCF ) in a deal which could be worth 2 billion

pounds ($2.57 billion), Sky News reported .

** Rheinmetall will take over U.S. military

vehicle supplier Loc Performance in a $950 million deal, the

German defence group said, with an eye to improving its chances

of scoring orders worth billions.

** Family-owned candy giant Mars, whose brands include M&M's

and Snickers, is nearing a deal to acquire Kellanova ( K ),

maker of snacks such as Cheez-It and Pringles, for nearly $30

billion, a person familiar with the matter told Reuters on

Tuesday.

** Dental implant maker Straumann announced the

sale of its DrSmile aligner business and raised its full-year

outlook to reflect that, after its half-year operating profit

beat expectations.

** UBS on Tuesday agreed to sell Credit Suisse's U.S.

mortgage servicing business, UBS Chief Financial Officer Todd

Tuckner said .

** Thyssenkrupp continues to be in good

discussions with private equity firm Carlyle and German

state lender KfW over the sale of a majority stake in

its warship division, finance chief Jens Schulte told

journalists.

** U.S. casualty insurer Allstate ( ALL ) has sold its

employer voluntary benefits business to StanCorp Financial Group

for $2 billion in cash, Allstate ( ALL ) announced on Tuesday.

** Intel ( INTC ), which is cutting thousands of jobs as it

struggles to stay relevant in the chip industry, sold its 1.18

million share stake in British chip firm Arm Holdings in

the second quarter, a regulatory filing showed on Tuesday.

** Reliance and Walt Disney ( DIS ) have offered

to sell some channels to win faster antitrust approval for their

$8.5 billion India media assets merger, but are resisting

changes to cricket broadcast rights they own, two sources

familiar with the matter said.

** Bitcoin miner Riot Platforms ( RIOT ) said on Tuesday it

had increased its stake in rival Bitfarms ( BITF ) to 18.9%.

** Insurer Allstate has agreed to sell its

subsidiaries that provide employer voluntary benefits to

StanCorp Financial Group (The Standard) in a $2 billion cash

deal, the company said in a regulatory filing on Tuesday.

** Japan's Meiji Yasuda Life Insurance will acquire American

Heritage Life Insurance, a unit of U.S. insurance company

Allstate ( ALL ), for around $2 billion, the Nikkei reported.

(Compiled by Rajarshi Roy and Pritam Biswas in Bengaluru)

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