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KKR vies with Cellnex for $14bn Vodafone tower unit. (FS)
Renault to target $10bn valuation for its EV business.
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Yamana Gold Inc. is at the center of a takeover battle after two Canadian mining companies teamed up on an unsolicited $4.8bn offer to break up an earlier $6.7bn merger agreement with South Africa's GOLD FIELDS ,?Bloomberg?reported.
Pan American Silver Corp. and Agnico Eagle Mines Limited announced a cash-and-stock deal valued at $5.02 a share. The proposed transaction would see Pan American acquire Yamana, while Agnico Eagle would buy Yamana's Canadian assets.
Yamana Gold Inc. (led by Peter Marrone) is advised by Canaccord Genuity Group Inc. , Scotiabank , Stifel Financial Corp. (led by Matthew Gaasenbeek , Egizio Bianchini , Michael Barman and Pierre L. Laliberte ), Cassels Brock & Blackwell LLP (led by Mark Bennett , Jamie Litchen and Andrea FitzGerald ), Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Adam Givertz) and FTI Consulting (led by Sara Powell and Ben Brewerton ). Agnico Eagle Mines Limited (led by Ammar Al-Joundi) is advised by Maxit Capital LP , Trinity Advisors Corporation and Davies Ward Phillips & Vineberg LLP . Pan American is advised by BMO Capital Markets , GenCap Mining Advisory , National Bank Financial , Borden Ladner Gervais LLP (BLG) and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by June Dipchand and Ryan Dzierniejko ). GOLD FIELDS (led by Chris Griffith) is advised by 美国银行 (led by Ben Davies ), J.P. 摩根 , Fasken (led by Brian Graves ), 年利达 (led by Mike Bienenfeld ), Webber Wentzel (led by Jesse Watson ) and 博然思维集团 (led by Jonathan Doorley ).
Werfen , a developer, manufacturer and distributor of Specialized Diagnostic instruments, related reagents, automation work cells, and data management solutions, agreed to acquire Immucor, Inc. , a provider of transfusion and transplantation diagnostic products, from TPG, an alternative asset management firm, for $2bn.?
"As a global leader in the research, development, manufacturing and distribution of innovative, Specialized Diagnostics solutions for hospitals and clinical laboratories, Immucor is a natural fit with our existing business model. We highly value Immucor's commitment to enhancing care for all patients in need of a transfusion or transplant. This fits squarely with our long-term vision and strategy, aligns with our focus, and complements Werfen's values," Marc Rubiralta Giralt , Werfen President.
Immucor, Inc. (led by Avi Pelossof ) is advised by Evercore and Ropes & Gray LLP (led by Michael Roh and James Davis ). Werfen (led by Carlos Pascual ) is advised by Barclays and Milbank LLP . Debt is provided by BBVA , 法国巴黎银行 , CaixaBank and 汇丰 .
Nordson Corporation , a manufacturer of dispensing equipment for consumer and industrial adhesives, sealants and coatings, completed the acquisition of CyberOptics , a developer and manufacturer of high-precision 3D sensing technology solutions, for $380m.
“This is a compelling transaction that delivers substantial and immediate cash value to our shareholders and expands options for our customers going forward. We believe the combination has strong strategic logic and creates the right partnership to meet the evolving needs of our customers and growth opportunities for our employees,” Subodh Kulkarni , CyberOptics President and CEO.
CyberOptics (led by Subodh Kulkarni )was advised by Barclays and Stinson LLP . Barclays was advised by Sullivan & Cromwell LLP (led by Stephen Kotran ). Nordson Corporation (led by Sundaram Nagarajan ) was advised by 摩根士丹利 and 众达律师事务所 (led by James Dougherty and Erin de la Mare ).?
KKR vies with Cellnex for $14bn Vodafone tower unit. (FS)
KKR is seen as the party to beat as it competes with Spanish wireless telecommunications infrastructure and services company Cellnex Telecom in the final race for a stake in Vodafone 's towers unit.?
The private equity firm, which has teamed up with Global Infrastructure Partners (GIP) , is in pole position as Vodafone evaluates the binding offers it received last week for a stake in Frankfurt-listed Vantage Towers .
Cellnex is bidding together with Singapore sovereign wealth fund GIC. Cellnex is seeking to buy a majority stake that would give it operational control.?
Vodafone, which owns 82% of the tower business, could aim to reach an agreement by the time of its November 15 half-year results announcement. The company continues to study the bids and hasn’t yet picked a winner,?Bloomberg?reported.
Renault to target $10bn valuation for its EV business.?
Renault is aiming for a roughly €10bn ($10bn) valuation for the electric-vehicle business the French carmaker is carving out as a standalone entity.
The company is preparing the EV and software entity for a potential initial public offering on the Euronext Paris exchange sometime next year.?
The carveout of the entity, dubbed Ampere, is part of an overhaul that Chief Executive Officer Luca de Meo will present to investors this week. The split of the EV business from Renault’s traditional combustion-engine operations comes as the maker of Zoe and Clio cars seeks to navigate a difficult transition to electric vehicles as a possible recession looms in Europe.
Ampere’s carveout has been at the heart of talks between Renault and Japanese partner 日产 as the two companies seek to reshape a two-decade-old alliance. Nissan may invest $500m to $750m for a stake of about 15% in Ampere but the agreement hinges on a wider deal that would see Renault lower its own 43% stake in Nissan to about 15% over time to rebalance the alliance,?Bloomberg?reported.
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