Deals of the day—mergers and acquisitions
BLK•Schneider Electric plans a €70-per-share offer for Shelly Group, while a consortium is reportedly in talks to buy Stack Infrastructure’s Asia Pacific data centers for up to $25 billion. Other reported deals include a $396 million takeover offer for Capricorn Energy and a $403 million investment for a 20% stake in FMC.
1. Offers and takeover talks
Schneider Electric said it intends to launch a voluntary public takeover offer for Bulgarian smart-home device maker Shelly Group at €70 per share. A consortium backed by BlackRock and IFM Investors is reportedly in exclusive talks to buy Stack Infrastructure’s Asia Pacific data center portfolio for up to $25 billion. Capricorn Energy agreed to revised terms of a $396 million takeover offer from Norway’s DNO.
2. Investments and sales
Belgian chemicals group Tessenderlo completed a minority investment in FMC, buying a 20% stake for about $403 million. Vietnamese tungsten producer Masan High-Tech Materials said it would sell a 4.99% stake to Elmet Group in a deal valuing the company at about $2.5 billion. Quadient agreed to sell its UK lockers business for €65 million, while CVC agreed to buy a minority stake in CDN77.
3. Other proposed transactions
Hellman & Friedman is exploring a sale of Applied Systems that could value the insurance software provider at up to $10 billion. Ashtead Technology received a non-binding indicative proposal from Ember Infrastructure Management valuing it at about £498 million ($659.75 million). Waaree Energies and Indosolar said they would merge in a deal worth 9.5 billion rupees ($99.23 million).
