Deals of the day-Mergers and acquisitions
Adds: GSK, Vodacom, CYVN Holdings Updates: Commonwealth Bank of Australia
Oct 29 (Reuters) -The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:
** GSK GSK.L said it would buy rights to develop and sell an experimental drug from China-based biotech firm Chimagen Biosciences in an up to $850 million deal, as the British pharmaceutical giant looks to expand its immunology pipeline.
nL4N3M51K7
** South Africa's Competition Tribunal blocked Vodacom's VODJ.J proposed merger with fibre group Maziv, a blow to the ambitions of the country's biggest mobile operator to expand its fibre footprint nationwide.
nL1N3M50G1
** Abu Dhabi-based investment vehicle CYVN Holdings has entered a non-binding agreement to buy 100% of carmaker McLaren's automotive business from Mumtalakat, the sovereign wealth fund of Bahrain, the two Gulf firms said.
nL1N3M50J6
** Commonwealth Bank of Australia CBA.AX has sold a 10% stake in Vietnam International Commercial Joint Stock Bank VIB.HM it said, following a previous divestment last month, as it focuses on its banking business in Australia and New Zealand.
nL4N3M50Z9
** Hargreaves Lansdown HRGV.L, Britain's largest investment platform, said it expects the completion of its agreed 5.4 billion pound ($7 billion) takeover by an international consortium in the first quarter of 2025.
nL4N3M50YX
** Norway's sovereign wealth fund said it has bought a 97.7% stake in an office property in Menlo Park in the San Francisco bay area for $217 million, in a joint venture with U.S. real estate investment firm DivcoWest.
nL8N3M510D
** Australian department store owner Myer MYR.AX will merge with retail billionaire Solomon Lew's Premier Investments' PMV.AX portfolio of apparel brands, in a deal valued at A$863.8 million ($569 million), the companies said.
nL4N3M41S2
** U.S. drugmaker AbbVie ABBV.N said on Monday it will buy Aliada Therapeutics for $1.4 billion in cash, betting on an experimental Alzheimer's treatment still in the early stage of development.
nL4N3M40W1
** Private equity firm BC Partners said on Monday it had agreed to sell its controlling stake in GardaWorld in a deal that values the Canadian security services company at C$13.5 billion ($9.72 billion).
nL4N3M41EQ
(Compiled by Rajarshi Roy and Prakhar Srivastava in Bengaluru)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
