Deals of the day-Mergers and acquisitions

Reuters04-23

April 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Tuesday:

** JD Sports Fashion has proposed to buy American athletic fashion retailer Hibbett Inc for about $1.08 billion, the companies said, as Britain's biggest sportswear retailer looks to expand across the southeastern U.S.

** French investment firm Ardian will sell a majority stake in British audio equipment maker Audiotonix to private equity firm PAI Partners, the two groups said in separate statements.

** Italian coffee maker Lavazza said it was investing further in the machine vending industry by acquiring a stake in machine vendor IVS for 185 million euros ($197 million) with an eye to eventually gain full control.

** South Korea's SK Square has sold $191.5 million worth of Krafton Inc shares at 243,500 won each in a block trade, according to two sources with direct knowledge of the matter.

** The U.S. Federal Trade Commission on Monday sued to block Coach parent Tapestry's $8.5 billion deal to buy Michael Kors owner Capri , saying it would eliminate "direct head-to-head competition" between the flagship brands of the two luxury handbag makers.

** Kroger and Albertsons Cos are expanding their planned sale of grocery stores, offloading 166 more locations than previously agreed upon to C&S Wholesale Grocers as they work to get regulatory approval for their proposed $25 billion merger, the companies said on Monday.

(Compiled by Rajarshi Roy and Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment