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Deals of the day-Mergers and acquisitions
Sep 29, 2024 5:00 PM

Sept 26 (Reuters) - The following bids, mergers,

acquisitions, and disposals were reported by 0930 GMT on

Thursday:

** Hong Kong's New World Development ( NWWDF ) said it was

in talks with its controlling shareholder, Chow Tai Fook

Enterprises, to sell its entire stake in Kai Tak Sports Park to

Chow Tai Fook Enterprises.

** South Korea's LG Display ( LPL ) said it had agreed

to sell its stake in its large liquid crystal display (LCD)

plant in Guangzhou, China, to TCL's LCD unit CSOT

for 10.8 billion yuan ($1.54 billion).

** Sodexo is exploring a potential acquisition of

its U.S. rival Aramark ( ARMK ), Bloomberg News reported on

Wednesday, sending the shares of the French food catering firm

lower.

** Australian fund manager Platinum Asset Management ( PTMGF )

rejected a takeover offer from hedge fund Regal

Partners, saying that the proposal undervalued the

company.

** U.S. Steel said on Wednesday an arbitration board

had ruled in favour of Nippon Steel's ( NISTF ) $14.9 billion

buyout of the company, but that the United Steelworkers union

(USW)disagreed with the decision.

** Macquarie said its infrastructure fund and other

pension funds will sell a co-owned 74.25% combined stake in

Queensland Airports Ltd to a consortium comprising global

investment firm KKR and Skip Essential Infrastructure

Fund.

** French food catering firm Sodexo is exploring a

potential acquisition of its U.S. rival Aramark ( ARMK ),

Bloomberg News reported on Wednesday, citing people familiar

with the matter.

** Brazilian education companies Cogna and Yduqs

have been in talks about a potential merger, Valor

Economico newspaper reported on Wednesday, citing

sources.

(Compiled by Rajarshi Roy and Pooja Menon in Bengaluru)

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