Deals of the day-Mergers and acquisitions – LLODO


(Adds: Stellantis, Ancora Holdings Group, Intesa Sanpaolo, New
Delhi Television Ltd; Updates: Ant Group, United Rentals)

Nov 14 (Reuters) – The following bids, mergers,
acquisitions and disposals were reported by 2050 P.M. GMT on
Monday:

** Indian conglomerate Adani Group moved a step closer in
its takeover of news broadcaster New Delhi Television Ltd
with an approval from the market regulator to buy an
additional 26% stake, according to a person familiar with the
matter.

** Italy’s Intesa Sanpaolo said it was selling its
entire 5.1% stake in Nexi, in an effort to cash in on
a recent rally in shares of the payments group.

** Activist investor Ancora Holdings Group said on Monday
Ritchie Bros Auctioneers Inc’s $7.3 billion buyout deal
for U.S.-based vehicle marketplace IAA Inc was a “poorly
structured sweetheart deal” and it will push for better terms.

** Solar battery storage company Electriq Power Holdings
Inc said it would go public through a merger with blank-check
firm TLG Acquisition One Corp, in a deal valuing the
combined company at $495 million.

** United Rentals Inc said it would acquire the
assets of smaller rival Ahern Rentals Inc for about $2 billion
in cash, as the equipment rental firm looks to expand its U.S.
presence.
** Temasek Holdings is considering selling Advanced
MedTech, multiple sources told Reuters, after the medical
devices firm, fully-owned by the Singaporean state investor,
received interest from suitors including buyout funds.
** Asset manager Kalrock Capital Partners said that probes
into its investor Florian Fritsch have no impact on its
acquisition of Indian airline Jet Airways.
[USN:nL4N32A162]
** The board of British clothing company Joules said
it planned to appoint administrators after failing to find a new
investor, becoming the latest retailer to face collapse as
consumer finances are squeezed.
** Saudi Arabia’s Public Investment Fund has sold a 10% stake
in stock exchange operator and owner Saudi Tadawul Group through
a secondary share offering, raising 2.3 billion riyals ($612
million), it said in a statement on Sunday.
** German military equipment manufacturer Rheinmetall
said on Sunday it has agreed to acquire Spanish
explosives and ammunition maker Expal Systems for an enterprise
value of 1.2 billion euros ($1.24 billion).
** Saudi Arabia’s Public Investment Fund has sold a 10% stake
in stock exchange operator and owner Saudi Tadawul Group through
a secondary share offering, raising 2.3 billion riyals ($612
million), it said in a statement on Sunday.
** Crypto exchange FTX filed for U.S. bankruptcy protection
on Friday and its founder Sam Bankman-Fried resigned as chief
executive, after the biggest blowup in the crypto industry drew
calls for tighter regulation.
(Compiled by Sriparna Roy and Granth Vanaik in Bengaluru)

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