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Deals of the day-Mergers and acquisitions
Oct 17, 2024 12:37 PM

Oct 15 (Reuters) - The following bids, mergers,

acquisitions, and disposals were reported by 0930 GMT on

Tuesday:

** Shares in De La Rue ( DELRF ) soared 15% after the British

banknote printer said it would sell its authentication business

for 300 million pounds ($391.3 million), including debt, to U.S.

rival Crane NXT ( CXT ), to bolster its finances.

** Parcel locker company InPost said it has

bought out all the stake it did not already own in British

logistics company Menzies Distribution, as it scales up its

operations in the country.

** South Korean conglomerate Hanwha Group on Monday raised

its offer for the remaining stake it does not already own in

Singapore's Dyna-Mac, valuing the offshore oil and gas

contractor at S$790.6 million ($605.41 million).

** Some of Frontier Communications' largest

shareholders are concerned about its planned $9.6 billion

takeover by Verizon Communications ( VZ ), with its

second-largest investor planning to vote against the deal, three

sources familiar with the firm's plans said.

** Phillips 66 will sell its 49% non-operated equity

interest in Coop Mineraloel AG to its Swiss joint venture

partner for $1.24 billion, the U.S. refiner said on

Monday.

(Compiled by Rajarshi Roy in Bengaluru)

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