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Deals of the day-Mergers and acquisitions

ReutersFeb 6, 2025 8:58 PM

Adds BPER, Mitratech, OpenAI, Nippon Steel, Clear Group, Interra Resources, Altus Power, Vale, Honeywell, Beacon Roofing Supply, Sidenor, IHH Healthcare, Hub International and Insurtechs Rhino

- The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Thursday:

** Italian bank BPER EMII.MI launched a 4.3 billion euro ($4.46 billion) bid on Thursday to acquire Banca Popolare di Sondrio BPSI.MI in an all-stock deal, the latest consolidation in the country's banking sector. nL4N3OX25M

** Ontario Teachers' Pension Plan is exploring a potential sale of Mitratech that could value the provider of legal and compliance software at more than $4 billion, including debt, according to people familiar with the matter. nL6N3OW0U9

** ChatGPT maker OpenAI said on Thursday that it is evaluating U.S. states as potential artificial intelligence data center locations for its massive Stargate venture, framing the project as a matter of urgency for the United States to beat China in the global AI race. nL4N3OX21V

** A group of U.S. consumers have sued Nippon Steel 5401.T to block its proposed $14.9 billion purchase of U.S. Steel X.N, saying the deal threatens to reduce competition and drive up prices for many products. nL1N3OX14G

** Goldman Sachs-backed broker consolidator Clear Group has continued to build its footprint in Ireland with the acquisition of broker Phelan Caswell Insurances. nL6N3OX0PB

** Singapore-listed petroleum explorer Interra Resources INTR.SI said a production-sharing contract between its subsidiary and an entity controlled by the Myanmar government was extended years before the current ruling military seized power in the country in 2021. nL1N3OX0WQ

** Buyout firm TPG's TPG.O climate investment arm will acquire Altus Power AMPS.N in an all-cash deal worth $2.2 billion, including the assumption of debt, the companies said in a statement. nL4N3OX153

** Brazilian miner Vale VALE3.SA confirmed it has bought the 50% stake in its Baovale tie-up previously owned by its Chinese partner Baoshan Iron & Steel, known as Baosteel, a move that gives Vale full control of the iron ore project. nL1N3OX0YU

** Honeywell HON.O is splitting into three independently listed companies, breaking up one of America's last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the industrial giant. nL4N3OX0X4

** Beacon Roofing Supply BECN.O said its board had recommended shareholders reject QXO's QXO.N tender offer to acquire all outstanding shares of the company for $124.25 per share in cash. nL4N3OX1WU

** A Basque consortium comprising shareholders of steelmaker Sidenor, together with the regional government and local bank Kutxabank, made an offer for a 29.8% stake in Spanish train maker Talgo TLGO.MC. nL1N3OX0O6

** IHH Healthcare IHHH.KL said its unit has sought up to 109.3 billion rupees ($1.25 billion) in compensation from Japan's Daiichi Sankyo 4568.T for preventing the Malaysian firm from owning a majority stake in India's Fortis Healthcare FOHE.NS. nL4N3OX0VQ

** Hub International has acquired the assets of John L Kiley Agency, doing business as the Rocchio Agency, based in Carmel, Indiana. nL6N3OX0ME

** Insurtechs Rhino and Jetty have announced they are to merge, with Rhino's COO Georges Clement to lead the combined company as CEO. nL6N3OX0LO

** Buyout firm TPG's TPG.O climate investment arm will acquire Altus Power for $2.2 billion in an all-cash deal, including debt, the provider of solar power to commercial property owners and residential homes said. nL4N3OX153

** Warner Music Group said it has acquired a controlling stake in Tempo Music, helping it expand its intellectual property portfolio by gaining rights for songs by artists such as Bruno Mars, Adele and Wiz Khalifa. nL4N3OX18P

** A consortium comprising shareholders of Bilbao-based steelmaker Sidenor, together with the Basque country's regional government and Spanish bank Kutxabank, made an offer for a 29.8% stake in Spanish train maker Talgo TLGO.MC. nL8N3OX1BN

** Cargill has signed a purchase and sale agreement for a 50% stake in SJC Bioenergia, giving it full control of the Brazilian sugar and renewable energy firm, according to a statement. nL1N3OW1D1

** Canada's BCI, one of the country's largest asset managers, will buy BBGI Global Infrastructure S.A. in a deal valuing the Luxembourg-based investment firm at 1.06 billion pounds ($1.32 billion), the companies said. nL4N3OX0OK

** Potentia Energy, a joint venture between Italy's Enel Green Power and Japan's INPEX Corp 1605.T, said it would buy controlling stakes in 1 gigawatts worth of renewable energy projects in Australia from private equity and superannuation fund investors. nL1N3OX03E

** Risk Strategies has acquired West Chester, Pennsylvania-based Griffith Insurance, a full-service independent insurance agency. nL6N3OW0QC

** France's second largest sugar maker Cristal Union said on Wednesday it had reached an agreement to take over the refinery of the Lesaffre family located south of Paris, marking a new consolidation in the French sugar sector. nL1N3OW1EC

** Yorkshire have become the first county cricket club to sell their entire stake in a Hundred franchise, British media reported on Wednesday. nL4N3OW23R

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