Deals of the day: Mergers and acquisitions
COR•Sachem Head pressed Rightmove to consider a sale, while a US regulator sued to block Cencora’s $3.5 billion sale of its MWI Animal Health unit. A Brookfield-led consortium advanced in the Uniper sale process, H&R unitholders rejected a C$6.7 billion breakup, and Germany reportedly plans to acquire RWE and E.ON’s stake in Urenco.
1. Sale and takeover activity
Activist investor Sachem Head is pressing UK online property listing company Rightmove to consider a sale and speak with interested buyers, four people familiar with the matter said. Rightmove’s board rejected a bidder two years ago.
2. Cencora and Uniper deals
The US antitrust regulator sued in New York federal court to block Cencora’s $3.5 billion sale of its MWI Animal Health unit to Covetrus, arguing the deal would raise costs for clinics and pet owners. A consortium including Brookfield and CPPIB advanced to the next stage in the process to buy German state-owned utility Uniper, three people familiar with the process said.
3. Other transactions
H&R Real Estate Investment Trust unitholders voted against a previously announced C$6.7 billion ($4.7 billion) breakup deal. The German government reportedly plans to acquire RWE and E.ON’s combined one-third stake in London-based nuclear company Urenco.
