Deals of the day: mergers and acquisitions
PTC•Schneider Electric agreed to buy PTC in an all-cash deal valuing the U.S. software company’s equity at about $22.6 billion. Other reported deals included AkzoNobel’s $1.35 billion sale of its Southeast Asian decorative paints business, BT Group’s acquisition of TalkTalk’s consumer and wholesale businesses, and Suncor Energy’s C$1.2 billion sale of interests in three offshore oil assets.
1. Schneider to buy PTC
Schneider Electric agreed to buy PTC in an all-cash deal valuing the U.S. software company’s equity at around $22.6 billion. Schneider said it was its biggest deal ever.
2. Other reported deals
AkzoNobel agreed to sell its Southeast Asian decorative paints business to Nippon Paint for $1.35 billion, completing a review of its Asian decorative paints portfolio. BT Group acquired TalkTalk’s consumer and wholesale businesses out of administration, aiming to rescue the broadband operator and protect 2.5 million customers from losing services. Suncor Energy agreed to sell interests in three offshore oil assets to Ithaca Energy for C$1.2 billion in upfront cash.
