Deals of the day: mergers and acquisitions
HSBC•HSBC will merge Hang Seng Bank's asset management unit into its fund business after taking the Hong Kong lender private in a $13.6 billion deal. Ingenia Communities Group received a A$2.2 billion takeover proposal from AVID Property Group.
1. HSBC asset management merger
HSBC will merge Hang Seng Bank's asset management unit into its fund business, two people with direct knowledge of the matter said. The move follows HSBC's $13.6 billion deal to take the Hong Kong lender private.
2. Ingenia takeover proposal
Ingenia Communities Group received a takeover proposal from AVID Property Group for A$2.2 billion ($1.54 billion). Ingenia's shares closed at their highest level in nine months.
