September 25, 2018 / 10:03 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds XO Group, Sonic, Michael Kors)

Sept 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Event planning company XO Group Inc said two private equity funds would take the company private in a $933 million deal and merge it with wedding planning group WeddingWire Inc.

** Arby's owner Inspire Brands Inc said it would buy Sonic Corp for about $1.57 billion in cash, adding more than 3,600 drive-in restaurants to its portfolio that includes brands such as Buffalo Wild Wings and Rusty Taco.

** U.S. fashion group Michael Kors agreed to buy luxury designer Versace for 1.83 billion euros including debt in the latest foreign takeover of an Italian brand.

** British energy supplier SSE has acquired the other half of offshore wind joint venture Seagreen Wind Energy Limited from Fluor Ltd as it increases its renewable energy ambitions, the company said.

** Top Chinese steelmaker China Baowu Steel Group is in talks to take over rival Magang Group, three sources familiar with the discussions said, a deal that would help entrench the nation's position as a serious competitor in global steel markets.

** China Baowu Steel Group said a media report that it is in talks to take over Magang group was not true, state media Shanghai Securities News reported.

** Deutsche Bank's chief executive dampened speculation of a possible merger, saying the bank must focus on its homework for the time being. (Compiled by John Benny and Bharath Manjesh in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below