May 2, 2014 / 10:04 AM / 4 years ago

Deals of the day- Mergers and acquisitions

(Adds IK Investment, BTG Pactual SA, Skechers, Arsenal Capital, GE, Merck KGaA)

May 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** U.S. drugmaker Pfizer Inc increased its offer for AstraZeneca Plc to 63 billion pounds ($106 billion) on Friday, but the British company promptly rejected the proposal, which would create the world’s biggest pharmaceuticals company.

** InterContinental Hotels Group said on Friday it would return $750 million to shareholders and was considering selling off more hotels after reporting its strongest revenue per room performance in seven quarters.

** Boursorama SA, the online broker controlled by French bank Societe Generale, announced on Friday that it is to close its British business and that 2014 group net income would be near zero as a result.

** Auto parts maker Visteon Corp said it would sell most of its automotive interiors business to private equity firm Cerberus Capital Management LP as it focuses on its fast-growing climate control and electronics operations.

** News Corp said it would buy romance novel publisher Harlequin Enterprises Ltd from Canadian newspaper company Torstar Corp to boost its non-English book publishing.

** London-based private equity fund Pamplona Capital Management LLP has cut its stake in Italian lender Unicredit to 4.88 percent from 5.01 percent, according to a filing published by market regulator Consob on Friday.

** Singapore’s sovereign wealth fund, GIC Private Ltd , has agreed to extend a 3.4 billion peso ($76.3 million) loan convertible into equity to the parent of Century Pacific Food Inc, ahead of the latter’s Philippine listing.

** Berkshire Hathaway Inc’s energy unit said on Thursday it would buy AltaLink, Canada’s regulated electricity transmission company, from SNC-Lavalin Group Inc for about $2.9 billion in cash.

** Goldcorp Inc Chief Executive Chuck Jeannes said on Thursday he was disappointed the company failed in its takeover bid for Osisko Mining Corp but not overpaying for the smaller Canadian miner was the right thing to do.

** IK Investment Partners has asked rival buyout groups to submit bids for Germany-based fire extinguisher maker Minimax by the end of this month, three people familiar with the process told Reuters.

** Brazilian state-run mortgage lender Caixa Economica Federal and investment bank Grupo BTG Pactual SA are considering the acquisition of consumer finance company Banco Pan’s insurance unit, O Estado de S. Paulo newspaper reported, citing a source with knowledge of the situation.

** Sport shoes maker Skechers USA Inc said on Friday it would explore buying a stake in the Los Angeles Clippers basketball team, whose owner is at the center of a storm over alleged racist remarks.

** Private equity firm Arsenal Capital Partners is considering a sale of its business that helps U.S. oil and chemical companies reclaim import taxes, a partner at the firm said. A source familiar with the matter said it could be valued at up to $500 million.

** General Electric Co is in advanced talks to sell its energy unit that makes fuel dispensers to First Reserve Corp, according to people familiar with the matter, in the latest example of a conglomerate selling an unloved business to a buyout firm.

** German chemicals and pharmaceuticals company Merck KGaA said it had completed its 1.9 billion euro ($2.6 billion) takeover of Britain’s AZ Electronic Materials, a move Merck expects to boost its business in Asia. ($1 = 0.5919 British pounds) ($1 = 44.5 pesos) (Compiled by Avik Das and Ankit Ajmera in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below