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Deals of the day-Mergers and acquisitions
Oct 1, 2024 3:21 AM

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

acquisitions and disposals were reported by 0930 GMT on Tuesday:

** Dutch crop trader Louis Dreyfus raised its buyout offer for

Namoi Cotton, with its bid that values the Australian cotton

ginning firm at A$159.3 million ($110 million), signalling the

end of a months-long bidding war as Singapore's Olam Agri

effectively surrendered arms.

** Abu Dhabi's ADNOC has agreed to buy German chemicals

producer Covestro ( CVVTF ) for 15.9 billion euros ($18 billion)

including debt, the state oil giant said, representing its

largest acquisition to date.

** Macquarie's asset management division will buy

Denmark-based offshore wind operations and maintenance business

ZITON A/S , the Australian financial services

company said.

** British luxury brand Mulberry rejected retailer

Frasers' ( SDIPF ) 83-million-pound ($111 million) takeover

proposal, saying its majority shareholder did not support the

bid and that it undervalued the company.

** Switzerland's Partners Group is selling German

metering firm Techem for 6.7 billion euros ($7.46

billion) to US asset manager TPG, Techem said, changing

hands to its third private equity firm.

** Pfizer ( PFE ) sold a stake in British consumer

healthcare group Haleon ( HLN ) worth about $3.26 billion on

Monday, cutting its shareholding in the maker of Sensodyne

toothpaste and Panadol and Advil painkillers to 15% from 22.6%.

** Spanish defence and technology firm Indra's

board agreed to start looking for options to sell a stake in its

Minsait Payments business, the company said on Monday in a

filing to the stock market regulator.

** Singapore's Olam Agri Holdings said it will

not to extend its buyout offer for Namoi Cotton, which

values the Australian cotton producer at A$144 million ($99.62

million), beyond its current closure date of Oct. 8.

** Qatar Airways will buy a 25% stake in Virgin Australia

from U.S. private equity firm Bain Capital, posing a tougher

contest for Qantas Airways ( QUBSF ) that has dominated

Australian routes and pushed back against giving access to the

Middle Eastern carrier.

** Shares of Australia's REA Group ( RPGRF ) rose 4% , after

the property listing firm decided to end its $8.29 billion

takeover pursuit for Rightmove ( RTMVF ) following a fourth bid

rejection from the British real estate portal.

** Qatar Airways' plans to buy a 25% stake in Virgin

Australia from U.S. private equity firm Bain Capital would go

through all required regulatory processes, including the Foreign

Investment and Review Board, Australia's Treasurer Jim Chalmers

said .

** PepsiCo ( PEP ) is in advanced talks to acquire

tortilla-chip maker Siete Foods for more than $1 billion, the

Wall Street Journal reported on Monday, citing people familiar

with the matter.

(Compiled by Rajarshi Roy and Neil J Kanatt in Bengaluru;

Editing by Shreya Biswas)

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