Japan’s Monex Group will buy the securities unit of Orix Corp for about $246 million in stock, in a deal that will create the country’s second-largest online broker.
By forming a broker with more than $23 billion in client assets they will be able to cut systems and other costs and beef up product and service line-ups, they said.
In other M&A news reported by Reuters and other media:
Speculation about a possible takeover of UK retailer Debenhams was raised after private equity firm TPG sells its 9 percent stake, the FT says.
Matalan, another UK retailer, is being circled by KKR, Blackstone, Cinven and TPG, the FT adds.
GSI Commerce agrees to buy e-commerce company Retail Convergence for $180 million in cash and stock, to strengthen its online sales platform.