Business
Mergers and acquisitions
Mergers and acquisitions
About this update from Prysmian S.p.a.
The following bids, mergers, acquisitions and disposals were reported by 1930 GMT on Monday:** A consortium led by the Italian Treasury has reached an agreement to buy Telecom Italia (TIM) MIL:TIT submarine cable business Sparkle, in a deal valuing the unit at 700 million euros ($793.80 million) including debt, TIM and the government said. [nL1N3QS0RS]** Italy's Prysmian MIL:PRY sold a 3.7% stake in Hong Kong-listed Yangtze Optical Fibre and Cable (YOFC) SSE:601869 for around HK$350.2 million ($45.16 million) to support its $1.15 billion acquisition of U.S. group Channell, the cable maker said. ** Intel has agreed to sell a 51% stake in its Altera programmable chip business to buyout firm Silver Lake for $4.46 billion, in the first major move under new CEO Lip-Bu Tan to revive the struggling American chipmaker. ** KKR NYSE:KKR will buy a joint venture of S&P Global and CME Group in a $3.1 billion deal, marking the U.S. private equity firm's second acquisition in less than a week despite the tariff turmoil slowing the pace of dealmaking activity. ** Warner Bros Discovery has decided not to sell Polish broadcaster TVN, it said, drawing a line under speculation surrounding the future of the company that is considered strategic by the Polish government. ** Marex Group has bought UK-based Darton Commodities, a trader of cobalt metal used to make aerospace and military equipment, the financial services firm told Reuters, declining to give further details. ** Ageas has agreed to buy British car and home insurer esure from Bain Capital for 1.3 billion pounds ($1.7 billion) in a move that will create the third largest personal lines platform in the UK. ** British oilfield services and engineering company Wood Group has received a proposal from Dubai's Sidara comprising a takeover bid worth about 242 million pounds ($318.4 million) and up to $450 million in cash, it said , boosting its shares.