August 30, 2016 / 10:02 AM / a year ago

Deals of the day- Mergers and acquisitions

3 Min Read

Aug 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Tokio Marine Holdings Inc is in exclusive talks to buy RHB Bank's general insurance unit in a deal that also includes an agreement to distribute the Japanese insurer's products through the Malaysian lender, people familiar with the matter told Reuters.

** The Philippines' Court of Appeals said it has halted the competition regulator's review of a $1.5 billion deal that could strengthen the duopoly of the country's two biggest telecom firms, PLDT Inc and Globe Telecom Inc to buy San Miguel Corp out of the sector.

** China Evergrande Group said it used proceeds from home sales to buy shares in larger rival China Vanke , which is at the center of a rare public Chinese boardroom spat.

** A merger of troubled South Korean shipper Hanjin Shipping Co Ltd and Hyundai Merchant Marine Co Ltd is impossible at present, Yonhap news agency on Tuesday quoted the head of the country's financial regulator as saying.

** Royal Dutch Shell Plc said it has agreed to sell certain assets in the Gulf of Mexico to independent oil and gas company EnVen Energy Corp for $425 million, plus royalty interests.

** China's Anbang Insurance Group has applied for regulatory approval for its planned $3 million acquisition of German insurer Allianz's South Korean business, the Yonhap News Agency reported.

** Japan's top oil refiner by sales, JX Holdings, and third-ranked TonenGeneral Sekiyu are set to finalize details on Wednesday for a new merged company to be formed in April 2017.

** Canadian industrial auctioneer Ritchie Bros Auctioneers Inc said it will buy IronPlanet, a privately held U.S. e-commerce site for used equipment, for about $758.5 million, as it looks to diversify its portfolio.

** Mondelez International Inc, the maker of Oreo cookies and Cadbury chocolates, said it was no longer pursuing the acquisition of Hershey Co, two months after the U.S. chocolate company turned down its $23 billion cash-and-stock bid.

** Twin Butte Energy Ltd debenture holders voted to reject a takeover bid by Hong Kong's privately held Reignwood Resources Holding Pte Ltd on Monday, throwing the cash-strapped Canadian oil and gas producer's financial future into uncertainty. (Compiled by Akankshita Mukhopadhyay in Bengaluru)

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