April 15, 2013 / 10:09 AM / 4 years ago

Deals of the day -- mergers and acquisitions

7 Min Read

April 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday.

** Dish Network Corp, the No. 2 U.S. satellite television provider, offered to buy Sprint Nextel Corp for $25.5 billion in cash and stock, a move that could thwart the proposed acquisition of Sprint by Japan's SoftBank Corp .

Dish has no immediate plans to disrupt Sprint's deal to buy the shares of Clearwire Corp it does not already own, a source close to the matter said.

** Thermo Fisher Scientific Inc agreed to buy Life Technologies Corp for $13.6 billion in a deal that would make it one of the top companies in the hot field of genetic testing.

** Royalty Pharma sweetened its bid for Irish drugmaker Elan, heaping pressure on its management to open its books to the U.S. investment firm in the hope of a better offer, analysts and shareholders said.

Royalty made its formal cash offer worth up to $7.3 billion, or $12 a share, ahead of a May 10 deadline for a firm bid, improving on an initial approach worth $11 per share.

** South Korean telecoms company KT Corp has withdrawn from the bidding for Vivendi's 53 percent stake in Maroc Telecom, although it said it may still consider various investment options.

KT Corp previously submitted a letter of intent to buy Vivendi's stake in Maroc Telecom in a deal which the seller hopes could raise 5.5 billion euros ($7.20 billion).

** The French government could raise as much as 4.2 billion euros ($5.5 billion) by trimming its stakes in utilities EDF and GDF Suez, money it may invest in other industries to boost the economy.

** German builder Hochtief, controlled by Spain's ACS, has received bids for its airport unit, two people with knowledge of the matter said. A source representing a potential buyer of the assets has said Hochtief could now fetch as much as 1.2 billion euros ($1.57 billion)in the sale.

** French media group Lagardere said on Monday it had made a net capital gain of 1.8 billion euros ($2.36 billion) on the sale of its 7.4 percent stake in Airbus parent EADS , part of an overhaul in the ownership of the aerospace group.

Airbus parent EADS is in talks to buy back 1.56 percent of its stock from the French government, it said on Monday.

** Wealth management company National Financial Partners said it agreed to be bought by private equity investment firm Madison Dearborn Partners LLC for about $1.3 billion, including convertible debt.

** ING Groep NV is targeting a May launch for the sale of its $1.2 billion stake in Thailand's TMB Bank, as the Dutch financial services company awaits the end of Malaysia's election to include more bidders, people familiar with the matter told Reuters.

** Russia's fertilizer group Acron raised its minority stake by 2.2 percent in its Polish state-controlled competitor Azoty Tarnow and offered it a strategic alliance, Acron said on Saturday.

** Russia's biggest oil producer Rosneft has agreed to take a stake of up to 21 percent in Italian refiner Saras in a move that will strengthen its commitment to the Mediterranean area.

Rosneft said that the Moratti family, which controls more than 60 percent of Saras, will sell it a 13.7 percent stake in the Italian refiner for 178.5 million euros ($233.55 million).

** The FIMI fund agreed to invest up to $75 million in El Al Israel Airlines in return for up to 47 percent of the flag carrier, Israel's largest private investment fund said on Sunday.

FIMI will form a controlling group in El Al with Knafaim Holdings, which owns 39 percent of the airline. Knafaim has an option to sell FIMI 30 million shares in El Al worth $5 million.

** Online gambling company Betfair is the target of a possible takeover offer from the private equity firm that owns Formula One motor racing.

CVC Capital Partners on Monday said it was in talks with investors about the possibility of making a joint offer for Betfair, which has a market value of around 800 million pounds ($1.2 billion).

** Austrian energy group OMV has bought German utility RWE's nearly 17 percent stake in the Nabucco pipeline project that aims to bring Caspian gas to Europe, OMV said on Sunday.

** New Zealand industrial property investor Property for Industry Ltd said on Monday it would merge its operations with Direct Property Fund Ltd.

** Swiss chemicals firm Clariant has signed a deal with Ecolab Inc to buy some of its deep water assets in the Gulf of Mexico but is not disclosing financial details.

** Bankrupt photography pioneer Eastman Kodak Co said it has agreed to sell some of its document imaging business' assets for $210 million in cash under a stalking horse bid by Brother Industries Ltd.

** Next Media Ltd plans to sell its Taiwan television unit to ERA Communications Co Ltd chairman Lien Tai-sheng for T$1.4 billion ($46.78 million), the group's latest effort to offload the loss-making business after a deal to sell its entire newspaper and TV empire fell through last month.

** DBS Group Holdings Ltd's bid to buy Indonesia's PT Bank Danamon from Singapore state investor Temasek Holdings Pvt Ltd may get the go-ahead in May, but there are regulatory issues to resolve, Bank Indonesia said on Monday.

** U.S. private equity firm Warburg Pincus LLC has bought a minority stake in Indian engineering equipment maker Avtec Ltd, but the terms of the transaction were not disclosed.

** High-speed trading firms Knight Capital Group and Getco Holding Co expect to achieve up to $110 million in annual cost savings within three years of closing their $1.4 billion merger, according to a regulatory filing released on Monday.

** Serbia's loss-making JAT Airways has secured a marketing alliance with Gulf airline Etihad Airways to share route-booking codes, stopping short of the equity tie-up mooted by Serbia's government.

** Canadian asset manager Gluskin Sheff + Associates Inc is entertaining takeover offers, according to a report in the Globe and Mail newspaper that cited unnamed sources.

** Office building operator CommonWealth REIT rejected a conditional buyout offer by Related Fund Management LLC and Corvex Management LP and adopted measures that make it more difficult to remove its board members.

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