Deals of the day: mergers and acquisitions
AMD•AMD agreed to acquire World Labs in an all-stock deal valued at $8.2 billion, while AAR said it would buy a 65% stake in MRO Holdings for about $1.8 billion. Other reported deals include bids involving Vesuvius, Zheneng Jinjiang Environment and Evonik.
1. Technology and aviation deals
AMD said it would acquire Fei-Fei Li’s AI startup, World Labs, in an all-stock deal valued at $8.2 billion. AAR said it would acquire a 65% controlling interest in aircraft maintenance company MRO Holdings for about $1.8 billion.
2. Offers and proposed take-private
Austria-based RHI Magnesita proposed a cash-and-stock bid for Britain’s Vesuvius valued at 551 pence per share, after Vesuvius rejected its previous offers over the past year. Zhejiang Provincial Energy Group offered to take Singapore-listed Zheneng Jinjiang Environment private in a deal valuing the firm at about S$1.0 billion ($782 million).
3. Other strategic moves
Arcadis said it planned to divest most of its architecture business and its China operations as part of a 2027-2029 strategy. Evonik rejected a €10.3 billion ($11.7 billion) takeover bid from BASF as too low, sources close to the negotiations said. Guangzhou Automobile Group plans to acquire a 50% stake in FAW Toyota through a share issue.
