Deals of the day- Mergers and acquisitions

Wed Sep 18, 2013 4:02pm EDT
 
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Sept 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** China's Shuanghui International is close to securing shareholder approval for its $4.7 billion offer for Smithfield Foods Inc, which would be the biggest purchase of a U.S. company by a Chinese firm, ahead of the vote next week, three people familiar with the matter said. The deal needs the approval of just over 50 percent of Smithfield shareholders by a special meeting scheduled for Sept. 24.

** Canadian private equity firm Onex Corp is preparing to sell The Warranty Group, a provider of extended warranty contracts, which is expected to fetch more than $1 billion, two people familiar with the matter said this week. Onex has hired Goldman Sachs, Morgan Stanley and Citigroup to find a buyer for the business.

** Varde Management and Deutsche Bank have raised 108.6 million pounds ($172.7 million) from the sale of a 13.5 percent stake in British housebuilder Crest Nicholson. The two groups said the shares were sold at 320 pence each, a 4.1 percent discount to Tuesday's closing price. Following the placing Varde continues to hold approximately 20 percent of Crest's issued share capital, while Deutsche Bank's stake was reduced to around 9 percent.

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