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Deals of the day-Mergers and acquisitions

Published 11/05/2021, 08:00 pm
Updated 11/05/2021, 10:48 pm
© Reuters.

May 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** The British government has completed the sale of 1.1 billion pounds ($1.55 billion) in shares of NatWest NWG.L , lowering its stake to below 55% in the lender it bailed out over a decade ago. Japan's SoftBank Corp 9434.T will invest $60 million for a 23% stake in the digital analytics and artificial intelligence arm of Malaysian telecoms firm Axiata Group Bhd AXIA.KL , said two sources familiar with the matter. South Korea's Kakao Entertainment Corp said it was acquiring U.S.-based online comic app Tapas and serialized fiction app Radish for $510 million and $440 million, respectively. Australia's Boral Ltd BLD.AX urged shareholders to reject a nil-premium takeover offer from diversified Australian investor Seven Group Holdings SVW.AX , saying it undervalued the construction materials maker. Australian grocer Woolworths Group Ltd WOW.AX has offered draft commitments to ensure its deal to buy two-thirds of PFD Food Services will not hurt competition in the food sector, the country's competition regulator said. Activist investor Caligan Partners built an 11% stake in Fluidigm Corp FLDM.O , which makes a COVID-19 test, and may urge the company to conduct a strategic review and explore a sale of one of its business units, two sources said on Monday.

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