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Deals of the day-Mergers and acquisitions
Published Mar 18, 2021 21:15
© Reuters.
March 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1015 GMT on Thursday:
** A Japanese fund backed by veteran activist investor Yoshiaki Murakami reversed course and said it would begin a tender offer bid (TOB) for Japan Asia Group (JAG), the company said. Japanese trading house Mitsubishi Corp 8058.T said it has agreed to buy a 30% stake in the Aurukun bauxite project in Australia from mining giant Glencore Plc GLEN.L for an undisclosed sum. National Grid (LON:NG) will buy England's largest electricity distribution business WPD from U.S.-based PPL for 7.8 billion pounds ($10.9 billion) as it positions itself for a climate-driven transition from gas to electric power. BNP Paribas BNPP.PA is seen as the leading candidate among French lenders to invest in telecoms group Orange's ORAN.PA online banking arm, BFM Business reported. Australia's Westpac Banking Corp WBC.AX said it will sell its lenders mortgage insurance (LMI) business to Arch Capital Group ACGL.O in a deal that will also make Arch Westpac's exclusive LMI supplier for 10 years. South Korea's SK Holdings Co Ltd 034730.KS said it and China's Zhejiang Geely Holding Group Co Ltd GEELY.UL will each invest $30 million in a new mobility investment fund whose size they plan will reach $300 million in total.
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