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#pickbyjd (& everyone pick): IBM Corp’s $34 billion deal to buy Red Hat Inc RHT.N drove shares in the small but fast-growing software maker 50 percent higher on Monday, reflecting the huge premium IBM is paying to ward off any potential challenger bids.
OTHER NEWS OF NOTE:
** Australian adult education provider Navitas Ltd rebuffed a A$1.97 billion ($1.4 billion) approach from its founder and a private equity firm, leaving some investors concerned the tactic may not generate a better deal.
** Takeda Pharmaceutical Co Ltd has proposed to European regulators it could sell a Shire treatment in development due to concerns of overlap in inflammatory bowel disease treatments and its own drug Entyvio as it seeks clearance for the two companies’ merger.
** Private equity firm EQT made a recommended 5.97 billion Swedish crown ($654 million) cash bid to buy Swedish specialty pharma group Karo Pharma.
** Hitachi has wrapped up a bitter feud with U.S. activist investor Elliott over Ansaldo STS, agreeing to buy the fund’s stake in the Italian rail signalling group as part of a move to take full control.
** Italian regional lender BPER is one of the possible partners for a tie-up with Unipol Banca, the CEO of Unipol group Carlo Cimbri told daily la Repubblica on Monday.
** Italian infrastructure group Atlantia and Spanish builder ACS have completed the joint acquisition of Spain’s Abertis in a 16.5-billion-euro ($19 billion) deal that creates the world’s biggest toll-road group.
** Germany’s ProSiebenSat.1 Media said it had bought U.S. online dating site eharmony, in the first significant deal since it carved out a new e-commerce joint venture with General Atlantic.
** A joint venture signed between defence company Leonardo and shipbuilder Fincantieri will favour Italy’s talks with France over a military shipbuilding deal, Leonardo CEO told Corriere della Sera.
** Greece’s privatisation agency said on Monday it signed a deal to sell railway maintenance company ROSCO (EESSTY) to TrainOSE, a subsidiary of Italian railway operator Ferrovie Dello Stato Italiane, for 22 million euros ($25.05 million).
** Cia Energética de Minas Gerais SA, Brazil’s No. 3 power utility, has received a “tentative offer” for its stake in the Santo Antônio hydropower dam, the company said in a securities filing, but no deal has been agreed on yet.
** Qatar’s Doha Bank has cut its exposure to the United Arab Emirates though an asset swap with UAE banks amid strained relations between the two countries, four sources said.
** The Italian railways is set to hold a board meeting on Monday afternoon to discuss an offer for the whole of flagship carrier Alitalia, a source close to the matter.
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