Deals of the day-Mergers and acquisitions
Summary
** Swiss-based food giant Nestle will pay Starbucks $7.15 billion in cash for the rights to sell the U.S. coffee chain’s products around the world, tying a premium brand to Nestle’s global distribution muscle.** International Flavors & Fragrances Inc agreed to buy Israeli flavours and ingredients maker Frutarom for $7.1 billion in cash and stock, vying for the industry’s top spot with market leader Givaudan.** Australian plumbing products supplier Reece Ltd said it would buy privately held Texas-based peer Morsco Inc for $1.44 billion including debt, in a push to gain access to the fast-growing markets of the southern United States.** Nokia said it has acquired software maker SpaceTime Insight, which industrial customers use to manage millions of devices and assets across their networks, marking the equipment supplier’s latest push to expand beyond telecoms.** EU antitrust regulators approved ArcelorMittal’s bid for Italian group Ilva after the world’s largest steelmaker pledged to sell a string of businesses across Europe to address competition concerns.