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July 4, 2022

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UK’s valve maker Spirax-Sarco in talks to acquire Vulcanic Group

Reuters
July 4 (Reuters) – Valve maker Spirax-Sarco Engineering (SPX.L) said on Monday it had entered exclusive negotiations with French private-equity firm Qualium to acquire Vulcanic Group of Companies for 261.7 million euros ($272.87 million) on a cash-and-debt-free basis. The British company expects acquisition of Vulcanic, an European industrial electric heating......

Australia’s Link rejects Dye & Durham’s lower offer, but keeps door open

Reuters
July 4 (Reuters) – Australia’s Link Administration (LNK.AX) said on Monday it will not recommend Canadian cloud-based software firm Dye & Durham Ltd’s (DND.TO) lowered takeover bid but agreed to continue to engage with it on hopes of securing a better offer. Last week, Dye & Durham (D&D) cut its......

Softbank’s Fortress offers $1.5 bln to buy Japan’s Sogo & Seibu – Nikkei

Reuters
July 3 (Reuters) – Softbank-owned (9984.T) Fortress Investment Group has offered around 200 billion yen ($1.48 billion) to buy Japanese department store unit Sogo & Seibu from parent Seven & i Holdings (3382.T), Nikkei reported on Sunday, citing sources. Fortress has obtained the first refusal right in the acquisition of......

Elon Musk breaks silence on Twitter, posts a picture with the pope

Reuters
Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo Register now for FREE unlimited access to Reuters.com Register July 2 (Reuters) – Elon Musk on Friday night broke his nine-day silence on Twitter, the......

Capgemini reiterates it has no intention of acquiring Atos

Reuters
The logo of Capgemini is seen at the company’s headquarters in Paris, France, August 3, 2021. REUTERS/Benoit Tessier Register now for FREE unlimited access to Reuters.com Register July 1 (Reuters) – French IT consultancy Capgemini (CAPP.PA) reiterated on Friday it has no intention of acquiring or being involved in Atos’s......

Unilever sells Ben & Jerry’s Israeli business to defuse BDS row

Reuters
JERUSALEM, June 29 (Reuters) – Unilever (ULVR.L) on Wednesday sold its Ben & Jerry’s ice cream business in Israel to its local licensee for an undisclosed sum, aiming to smooth over a potentially damaging diplomatic row over the company’s political stance. The deal comes after the U.S. ice cream brand......

Clearlake Capital explores sale of Team Technologies for more than $1 bln – sources

Reuters
NEW YORK, June 29 (Reuters) – Private equity firm Clearlake Capital Group is exploring a sale of medical products manufacturer Team Technologies Inc for more than $1 billion, including debt, according to people familiar with the matter. Clearlake Capital is working with an investment bank on a sale process for......

Axiata, Telenor win approval to form Malaysia’s top mobile operator

Reuters
A general view of the Axiata headquarters building in Kuala Lumpur, Malaysia, October 1, 2019. REUTERS/Lim Huey Teng/ Register now for FREE unlimited access to Reuters.com Register KUALA LUMPUR, June 29 (Reuters) – Malaysia’s communications regulator on Wednesday approved a merger between the mobile operations of Axiata Group Bhd (AXIA.KL)......

Toshiba board gains two directors from activist funds in historic shift

Reuters
TOKYO, June 28 (Reuters) – Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on Tuesday – an inclusion that is expected to add momentum to its exploration of potential buyout deals. Nabeel Bhanji, a senior portfolio manager at Elliott......

Siemens to buy U.S. software company Brightly in $1.58 bln deal

Reuters
Chief Executive Officer (CEO) of German industrial conglomerate Siemens, Roland Busch attends the virtual annual shareholder meeting in Munich, Germany, February 10, 2022. Sven Hoppe/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register ZURICH, June 27 (Reuters) – Siemens (SIEGn.DE) is buying U.S. tech company Brightly Software......

Digital World board members get subpoena over Trump’s social media deal

Reuters
June 27 (Reuters) – Blank-check firm Digital World Acquisition Corp (DWAC.O) said on Monday each of its board directors had received subpoenas from federal prosecutors over the company’s merger plans with former U.S President Donald Trump’s social media firm. The federal probe is the latest setback to Trump’s efforts to......

Dye & Durham lowers Link Administration takeover offer by a quarter

Reuters
June 27 (Reuters) – Australia’s Link Administration (LNK.AX) said on Monday Canadian cloud-based software company Dye & Durham Ltd (DND.TO) lowered its takeover offer by nearly a quarter to A$2.21 billion ($1.54 billion) citing low market value of the share registry firm. Dye & Durham (D&D) has now offered Link......

ISS urges Spirit shareholders to vote for Frontier offer

Reuters
June 25 (Reuters) – Proxy advisory firm Institutional Shareholder Services Inc (ISS) has urged shareholders of Spirit Airlines Inc (SAVE.N) to vote for a proposed merger with Frontier Group Holdings Inc (ULCC.O). “On balance, support for the merger with Frontier on the revised terms is warranted,” the proxy advisory firm......

Frontier raises offer for Spirit to stave off JetBlue’s bid

Reuters
A logo of low cost carrier Spirit Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018. REUTERS/Regis Duvignau//File Photo Register now for FREE unlimited access to Reuters.com Register June 24 (Reuters) – Spirit Airlines Inc (SAVE.N) on Friday urged its shareholders to back a......

Canada’s Rogers, Shaw, watchdog agree to start mediation over C$20 bln deal

Reuters
General view of the Rogers Building, quarters of Rogers Communications in Toronto, Ontario, Canada October 22, 2021. REUTERS/Carlos Osorio Register now for FREE unlimited access to Reuters.com Register TORONTO, June 24 (Reuters) – Rogers Communications Inc (RCIb.TO), Shaw Communications Inc (SJRb.TO) and Canada’s competition bureau have agreed to start a......

Italy’s Monte dei Paschi seeks 2.5 bln euros for latest relaunch plan

Reuters
People are seen inside a Monte dei Paschi di Siena bank in Rome, Italy August 16, 2018. REUTERS/Max Rossi Register now for FREE unlimited access to Reuters.com Register Targets 3,800 voluntary staff exits in November Secures pre-underwriting accord with group of banks To lower costs, replenish capital with cash call......

EXCLUSIVE Bidders weigh offers valuing Toshiba at up to $22 bln-sources

Reuters
TOKYO/HONG KONG, June 23 (Reuters) – Bidders for Toshiba Corp (6502.T) are considering offering up to 7,000 yen ($51.41) per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters, valuing the deal at about $22 billion. Toshiba, which is exploring strategic options, said......

Crypto platform FalconX valued at $8 bln in new funding round

Reuters
NEW YORK, June 22 (Reuters) – Digital assets platform FalconX was valued at $8 billion in a new funding round led by Singapore’s sovereign wealth fund GIC and B Capital, more than doubling its valuation in 10 months, its chief executive and founder Raghu Yarlagadda told Reuters, despite a the......

Italy’s Saipem sets terms for cash call, shares drop 15%

Reuters
A Saipem logo in seen on the bridge of the Saipem 10000 deepwater drillship in Genoa’s harbour, Italy, November 19, 2015. REUTERS/Alessandro Garofalo Register now for FREE unlimited access to Reuters.com Register New shares offered at 1.013 euros each Capital hike to run from June 27 to July 11 Core......

Blockchain payment company Roxe to go public via $3.6 bln SPAC deal

Reuters
June 21 (Reuters) – Blank check company Goldenstone Acquisition Ltd (GDST.O) said late on Tuesday that it has entered into a deal with blockchain-based payments company Roxe Holding Inc to take it public for a combined enterprise value of about $3.6 billion. The deal bucks an unfavorable market environment with......

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