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Deals of the day-Mergers and acquisitions
Sep 3, 2024 3:19 AM

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

acquisitions and disposals were reported by 0930 GMT on Tuesday:

** California-based investment firm Clearlake Capital Group

said it would buy pan-European private credit specialist MV

Credit from asset manager Natixis Investment Managers.

** Taiwan's Shin Kong Financial said that it sees

Taishin as its preferred bidder despite having

received a higher $4.1 billion offer from CTBC Financial

.

** U.S. gene sequencing company Illumina ( ILMN ) won its

court fight against the European Union's investigation of its

$7.1 billion purchase of cancer diagnostic test maker Grail

, a ruling set to curb Brussels' merger powers.

** Spanish bank BBVA said Britain's Prudential

Regulation Authority has approved it taking indirect control of

Sabadell's TSB.

** South Africa's biggest grocery retailer Shoprite

, has agreed to sell its furniture business including

the OK Furniture and House & Home brands to discount retailer

Pepkor, the companies said.

** U.S. buyout fund Bain Capital has made a counter-offer to

buy Japanese software developer Fuji Soft, estimated at

about 600 billion yen ($4.1 billion) that would exceed a rival

offer from equity fund KKR.

** CapitaLand Integrated Commercial Trust will

acquire a 50% stake in Singapore's ION Orchard mall for an

agreed property value of S$1.85 billion ($1.42 billion), the

real estate investment trust said.

** REA Group ( RPGRF ), the property listings company

majority owned by News Corp ( NWSA ), is considering buying

Rightmove to create a global real estate company, the Australian

firm said on Monday, sending the British housing portal's shares

soaring.

** Private equity giant Blackstone has agreed to buy

an 80% stake in a European warehouse portfolio run by landlord

Burstone, the latest push by the U.S. investment

manager into warehouses that have boomed alongside the rise of

e-commerce.

** U.S. power equipment maker GE Vernova ( GEV ) said on

Monday it has acquired the remaining ownership stake in a Saudi

gas turbine producing joint venture from state-owned Dussur.

** French train maker Alstom said on Monday it had

completed the sale of its North American conventional signalling

business to Knorr-Bremse ( KNBHF ) for $690 million.

(Compiled by Rajarshi Roy and Vallari Srivastava in Bengaluru)

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