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Deals of the day-Mergers and acquisitions
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Deals of the day-Mergers and acquisitions
Sep 11, 2024 4:44 AM

Sept 11 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on

Wednesday:

** Abu Dhabi National Oil Company (ADNOC) is expected to

make a formal offer to acquire Covestro ( CVVTF ) for about 14.4

billion euros ($15.90 billion) including debt, the Financial

Times reported.

** The bid by Unicredit to purchase a 4.49% stake

in Commerzbank from the German government was

significantly higher than other offers at 13.20 euros ($14.58) a

share, a finance ministry spokesperson said.

** A company controlled by private equity firm Advent

International has placed an about 4% stake in parcel locker firm

InPost for 340 million euros ($375.56 million) to

institutional investors, a bookrunner said.

** Britain's largest real estate portal Rightmove ( RTMVF )

rejected the 5.6 billion pound ($7.32 billion) cash-and-stock

takeover proposal from Australia's REA Group ( RPGRF ), it said,

citing that the bid undervalued its prospects.

** Spain's Banco Santander has sold 5.3 million

shares in its Polish unit, Santander Bank Polska, for

about 2.46 billion zlotys gross ($635.43 million), the bank said

late on Tuesday.

** Australia's Namoi Cotton recommended

shareholders to vote for the A$138 million ($91.81 million)

takeover offer from Dutch crop trader Louis Dreyfus Company

(LDC) and reject a higher bid from Olam Agri .

** Goldman Sachs ( GS ) is close to finalizing a deal to

transfer its General Motors ( GM ) credit card business to

Barclays ( JJCTF ), a source familiar with the matter said on

Tuesday.

(Compiled by Rajarshi Roy and Priyanka.G in Bengaluru)

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