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Deals of the day-Mergers and acquisitions
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Deals of the day-Mergers and acquisitions

- The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Wednesday:


** Abu Dhabi National Oil Company (ADNOC) is expected to make a formal offer to acquire Covestro 1COV.DE for about 14.4 billion euros ($15.90 billion) including debt, the Financial Times reported.


** The bid by Unicredit CRDI.MI to purchase a 4.49% stake in Commerzbank CBKG.DE from the German government was significantly higher than other offers at 13.20 euros ($14.58) a share, a finance ministry spokesperson said.


** A company controlled by private equity firm Advent International has placed an about 4% stake in parcel locker firm InPost INPST.AS for 340 million euros ($375.56 million) to institutional investors, a bookrunner said.


** Britain's largest real estate portal Rightmove RMV.L rejected the 5.6 billion pound ($7.32 billion) cash-and-stock takeover proposal from Australia's REA Group REA.AX, it said, citing that the bid undervalued its prospects.


** Spain's Banco Santander SAN.MC has sold 5.3 million shares in its Polish unit, Santander Bank Polska SPL1.WA, for about 2.46 billion zlotys gross ($635.43 million), the bank said late on Tuesday.


** Australia's Namoi Cotton NAM.AX recommended shareholders to vote for the A$138 million ($91.81 million) takeover offer from Dutch crop trader Louis Dreyfus Company (LDC) and reject a higher bid from Olam Agri IPO-OLAA.SI.


** Goldman Sachs GS.N is close to finalizing a deal to transfer its General Motors GM.N credit card business to Barclays BARC.L, a source familiar with the matter said on Tuesday.



(Compiled by Rajarshi Roy and Priyanka.G in Bengaluru)

((Rajarshi.Roy@thomsonreuters.com;))

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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