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Deals of the day-Mergers and acquisitions

ReutersFeb 24, 2025 10:01 PM

Adds: Liberty Media, Equinox Gold, Sun Communities, Nvidia, Telefonica; updates: Saipem, Wood Group

- The following bids, mergers, acquisitions and disposals were reported by 2130 GMT on Monday:

Spanish telecoms company Telefonica TEF.MC has agreed to sell its unit in Argentina for $1.245 billion to Telecom Argentina TECO2m.BA as part of its strategy to gradually reduce its exposure to Latin America, it said.

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Britain's struggling oilfield services and engineering firm Wood Group WG.L has received a fresh approach from Dubai-based Sidara about a possible takeover offer after a failed attempt six months ago, both parties said.

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U.S. chipmaker Nvidia NVDA.O has sued EU antitrust regulators for accepting an Italian request last year to scrutinise its acquisition of AI startup Run:ai, saying they had flouted an earlier court ruling restricting their merger powers on minor deals.

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Sun Communities SUI.N will sell its superyacht servicing business for $5.65 billion in cash, as the real estate investment trust aims to focus on its core segments and reduce debt, sending its shares up more than 5%.

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Italy's Saipem SPMI.MI has agreed to merge with Norwegian rival Subsea 7 SUBC.OL in an all-share deal to create a leading global player in offshore energy services.

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EU antitrust regulators have paused their investigation into Liberty Media's FWONA.O 3.5-billion-euro ($3.7 billion) bid for Dorna Sports while waiting for information from the companies, the European Commission said.

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Canada's Equinox Gold EQX.TO on Sunday said it would acquire all outstanding shares of Calibre Mining CXB.TO in an all-stock deal, aiming to benefit from upcoming Canadian output as gold prices reach record highs.

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Dutch technology investor Prosus PRX.AS has agreed to buy Just Eat Takeaway.com for 4.1 billion euros ($4.3 billion) to create a "European tech champion" of food delivery, it said.

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Alternative asset manager Apollo Global Management will buy real estate firm Bridge Investment Group BRDG.N for about $1.5 billion in an all-stock deal, expanding its real estate offerings.

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Saudi Arabia's agricultural and livestock investment firm SALIC has agreed to buy a 44.58% stake in Singapore-based Olam Group's agricultural products business Olam for $1.78 billion, the companies said.

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U.S. private equity firm Bain Capital has tabled a 1.1-billion-pound ($1.39 billion) proposal to buy Chemring Group CHG.L, Sky News reported, sending shares of the London-listed defence contractor up more than 16%.

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Italy's state-owned bad loan manager AMCO said that it will buy 80% of public credit management company Exacta Group from Eulero Capital and the Oreglia founding family.

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Britain's National Grid has reached a deal to sell its U.S. onshore renewables business to Canadian investment firm Brookfield Asset Management for $1.74 billion including debt, it said.

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Switzerland's Energy Infrastructure Partners (EIP) will take a majority stake in BayWa AG's BYWGnx.DE renewable energy unit BayWa r.e. through a capital increase that will see the German agricultural group's holding fall to 35% from 51%.

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NormanMax is to acquire London-based parametric insurtech MGA FloodFlash in a deal that remains subject to Financial Conduct Authority approval, sources close to the transaction told The Insurer.

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Australia's Perpetual Ltd PPT.AX said it has terminated its support for a takeover deal with buyout firm KKR for its wealth management and corporate trust businesses, after an independent expert deemed it not in the best interests of shareholders.

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