Offers of the day-Mergers and acquisitions – 02/12/2024 at 9:57 p.m.


((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

(Updates Vitol, Diamondback Energy, Gilead Sciences)

The following deals, mergers, acquisitions and divestitures were reported at 2050 GMT Monday:

** Gilead Sciences GILD.O agreed to buy CymaBay Therapeutics CBAY.O for $4.3 billion, gaining access to an experimental liver disease treatment with blockbuster potential, as the U.S. manufacturer drug company is looking for growth beyond its legacy HIV drugs.

** Building materials supplier Martin Marietta MLM.N said it will acquire 20 active aggregates operations from Blue Water Industries for $2.05 billion in cash.

** American oil producer Diamondback Energy

FANG.O said it would buy private rival Endeavor Energy Partners in a $26 billion cash-and-stock deal that continues rapid consolidation in the top U.S. shale oil field.

** Glencore Plc GLEN.L said it would sell its stake in Koniambo Nickel SAS (KNS) in New Caledonia and that production at the KNS processing plant would be suspended for six months while it finds a new investor for the loss-making company.

** Shares in Tod’s TOD.MI did not begin trading at the open, and were reported up around 16.6%, after private equity firm L Catterton said that it would launch a tender offer to buy 36% of the luxury shoe maker at 43 euros per share.

** British real estate investment trust Tritax Big Box BBOXT.L has reached an agreement for a possible global offer for rival UK Commercial Property REIT Ltd (UKCM)

UKCM.L , valued at 924 million pounds ($1.17 billion), the two companies said.

** Oasis Management, a Hong Kong-based activist fund, said it opposed the management buyout of Taisho Pharmaceutical 4581.T for $5 billion, saying the acquisition price was too low.

** French digital music company Believe BLV.PA said it had received a buyout offer of 15 euros per share from a consortium of some of its main shareholders, in a deal valued at around 1.52 billion euros ($1.64 billion).

** Dutch insurer Achmea is considering selling its life insurance division, Dutch financial daily FD reported, citing sources.

** The Italian government will ask Vitol for commitments on jobs, investment and continuity of supply when it reviews the global commodities trader’s proposed takeover of oil refiner Saras SRS.MI. two sources familiar with the matter said.



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