Tank manufacturer KNDS has postponed its planned stock market listing. The company’s owners decided to delay the IPO because recent losses in defense stocks have made the market environment too weak for the offering.
Addiko Bank has established provisions totaling between 33 and 49 million euros related to Swiss franc-denominated credits. The bank has also suspended its financial forecast as it faces a takeover bid contested between Raiffeisen Bank International (RBI) and Nova Ljubljanska Banka (NLB).
Schneider Electric SE, a French multinational industrial software and automation company, has agreed to acquire Cognite, an industrial artificial intelligence software firm, in a transaction valued at $3.1 billion. The acquisition is intended to strengthen Schneider Electric’s capabilities in industrial data management and AI-powered software solutions.
Verizon Communications Inc. and BT Group Plc have agreed to establish a joint venture combining their international businesses, which will generate approximately $4 billion in annual revenue.
Three companies (HIP, Digi, and Ignis) are planning IPOs with a combined target of over 1,500 million euros. The tentative timeline points to autumn as the planned listing period, though Digi’s Spanish subsidiary has indicated a possible July debut.
OHB SE, a German satellite firm, completed a €789 million re-IPO on the Frankfurt Stock Exchange with KKR & Co. as a backing partner. The share sale aims to increase investor access to the space company.
German trade union Verdi has filed a complaint with BaFin (German financial regulator) regarding UniCredit’s conduct in its attempted takeover of Commerzbank. The union criticizes UniCredit’s approach as damaging market confidence. Commerzbank disputes the Italian bank on a material point related to the acquisition process.
H.B. Fuller Co. is close to acquiring Advanced Medical Solutions Group Plc, a UK-based maker of tissue-healing medical products, in a deal valuing the company’s equity at £628 million ($827 million).
Independent wealth manager HRK Lunis has acquired Munich-based competitor Eyb & Wallwitz as part of ongoing consolidation in the sector. Following the acquisition, HRK Lunis will manage approximately 11 billion euros in assets.
Bending Spoons SpA, an Italian company that acquires struggling software businesses and parent company of Vimeo, is planning an IPO to raise up to $1.62 billion