Deals of the day-Mergers and acquisitions
JOBY•Bids, mergers, acquisitions and disposals reported by 1330 GMT
August 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:
- Joby Aviation said it would buy defense technology company Resonant Sciences for about $500 million, as it looks to scale its business in a growing defense market.
- Xylem said it would buy valve- and pump-maker Indicor's Cornell Pump and Roper Pump businesses for $1.46 billion, expanding its industrial and municipal pumping operations.
- Two affiliates of South Korean conglomerate Lotte Group signed a deal to sell Lotte Rental, South Korea's largest car-rental firm, to U.S. private equity firm TPG, Lotte said.
- Commercial property insurer FM has acquired FortressFire, a provider of wildfire intelligence that combines machine learning and physics-based modeling, it announced on Monday.
- South Korean battery maker Samsung SDI said it will end its joint venture agreement with General Motors in Indiana and acquire the U.S. firm's 49.99% stake, citing weaker-than-expected electric vehicle demand.
- Australian shipbuilder Austal said that Hanwha Group had offered to buy its U.S. operations for up to $1.20 billion as the South Korean conglomerate seeks to expand in the American defence market.
- The Royal Bank of Canada and BMO Financial Group on Monday agreed to sell jointly owned Moneris Solutions to technology investment firm Francisco Partners in a deal valued at C$2 billion ($1.44 billion).
- has agreed to sell a 20% stake in a block that contains the Trinidad portion of the cross-border Cocuina-Manakin natural gas field to the country's state-owned National Gas Company, the company said on Monday in an emailed statement.
