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Deals of the day-Mergers and acquisitions

ReutersJan 28, 2025 2:33 PM

Adds: Mediobanca Updates: Snam

- The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Tuesday:

** Italian bank Mediobanca MDBI.MI rejected a takeover offer by state-backed rival Monte dei Paschi di Siena BMPS.MI, saying a tie-up would be detrimental to its shareholders because it lacked any strategic and financial rationale.

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** Italian gas grid operator Snam SRG.MI will sell its minority stake indirectly held in ADNOC Gas Pipelines to Abu Dhabi-based investment fund Lunate, Snam said.

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** Pan-European stock exchange Euronext ENX.PA announced it would acquire Nasdaq's NDAQ.O Nordic power futures activities, as it seeks to widen its business in the northern European electricity market. nL2N3OO07N

** Dutch bank ING Groep INGA.AS said it had reached an agreement to sell its business in Russia to local company Global Development JSC, leaving the bank with an exposure of 1 billion euros ($1.04 billion). nL2N3OO06Z

** German airline group Lufthansa LHAG.DE is in talks with Spanish carrier Air Europa about the possibility of acquiring a minority stake, according to two sources with knowledge of the talks. nL2N3OO09C

** Blue Pool, a Hong Kong-based investment firm backed by Alibaba co-founder Joe Tsai, has bought a 12% stake in Italian luxury sneaker makerGolden Goose, the Venice-based brand said. nL5N3OO0FC

** Tiger Brands TBSJ.J, South Africa's biggest food producer, said it would sell its 24.4% stake in food producer Empresas Carozzi back to Chilean parent Carozzi CAROZZI.SN for $240 million to focus on its domestic business. nL6N3OO03Y

** Billionaire Brad Jacobs took his QXO QXO.N $11 billion takeover offer for Beacon Roofing BECN.O to shareholders, after North America's largest publicly traded distributor of roofing materials repeatedly rebuffed his offer. nL3N3ON0RB

** Eversource Energy ES.N said it has agreed to sell its public water supply unit in a deal valued at $2.4 billion, as the utility firm aims to pare debt and focus on the core electric and natural gas businesses. nL3N3ON1JI

** U.S. industrial company Emerson Electric EMR.N agreed to pay $7.2 billion to buy the remaining shares in software supplier AspenTech AZPN.O that it does not already own, the companies said. nL3N3ON18K

** U.S.-based Diversified Energy DEC.N said it will buy private equity-owned Maverick Natural Resources for $1.28 billion, including debt, to expand into the oil and gas-rich Permian Basin, sending its shares up 4.3%. nL2N3OM09A

** Sage Therapeutics SAGE.O said on Monday that its board has unanimously rejected Biogen’s BIIB.O $469 million offer, stating it "significantly undervalues" the company and does not serve shareholders' best interests. nL3N3ON0YV

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