September 10, 2014 / 10:09 AM / 4 years ago

Deals of the day- Mergers and acquisitions

(Adds Google, Itaú Unibanco Holding, Chiquita, UBS, AngloGold Ashanti, Telecom Italia SpA, Aspen, Kommunalkredit, Lamda, Visteon, Locke Lord)

Sept 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Google Inc has acquired the maker of a high-tech spoon that helps people suffering from neurodegenerative tremors to eat, the Internet company’s latest foray into the healthcare and biotechnology market. Google did not say how much it paid for Lift Labs.

** Itaú Unibanco Holding SA’s card payment processing arm, Rede, acquired e-commerce service provider maxiPago for an undisclosed sum, in a bid to expand in its home market, Brazil, and other markets in Latin America.

** Brazil’s Grupo Cutrale and Safra Group, the banking and investment behemoth, entered into a confidentiality agreement with Chiquita Brands International Inc, after the banana producer agreed to consider their joint $611 million unsolicited takeover bid.

** Swiss bank UBS’s chairman Axel Weber expects mergers among smaller banks in Europe, mainly in the retail sector, while larger lenders were less likely to join up due to regulatory concerns.

** Africa’s biggest bullion producer AngloGold Ashanti has joined the wave of large miners shaking up their businesses by announcing a $2.1 billion rights issue and plans to spin off its non-South African assets in a new British-based company.

** Telecom Italia SpA has yet to propose or inform the price it is seeking for its Brazilian subsidiary, TIM Participações SA, the chief executive of the unit said. TIM Participações said it will evaluate any potential takeover bids. Investment banking firm Grupo BTG Pactual SA was yet to reach out the company to detail a potential bid.

** A range of suitors have expressed interest in buying a scaled-down version of Kommunalkredit as Austria tries again to privatise the public-sector finance specialist it nationalised in 2008, a senior official said.

** Greek auditors have blocked the $1.2 billion sale of a prime seaside property at the abandoned Athens airport Hellenikon, sources said, the country’s biggest privatisation deal since the financial crisis. In March, the country’s privatisation agency HRADF picked Lamda Development, backed by China’s Fosun and Abu Dhabi-based property firm Al Maabar, to turn the 620-hectare wasteland into a glitzy coastal resort.

** Auto-parts maker Visteon Corp is exploring a plan to split into two companies focused on electronics and climate controls, Bloomberg reported, citing people familiar with the matter. Visteon, once a part of Ford Motor Co, may consider selling or spinning off the electronics business, the report said.

** Texas-based Locke Lord has signed a letter of intent to merge with the Boston-based Edwards Wildman, the latest sign of consolidation hitting the U.S. legal industry.

** Dollar General Corp took its $9.1 billion offer for Family Dollar Stores Inc hostile, directly approaching the shareholders of its smaller rival after being spurned twice by the company.

** London Stock Exchange Group said on Wednesday that its shareholders have approved the company’s planned $2.7 billion takeover of U.S. index compiler and asset management firm Frank Russell.

** Russian indebted coal-to-steel group Mechel OAO is considering selling its core assets and hopes to earn between $2 billion and $3 billion over two or three years, its chief executive Oleg Korzhov told Vedomosti newspaper.

** Microsoft Corp is in serious discussions to buy Mojang AB, the Swedish company behind the popular “Minecraft” video game, The Wall Street Journal said, citing a person with knowledge of the matter. The deal is be valued at more than $2 billion and could be signed as early as this week, the Journal reported.

** Japan’s Ajinomoto Co Inc said on Wednesday it would buy unlisted U.S. frozen foods maker Windsor Quality Holdings for around $800 million as it seeks to expand in North America to offset slowing growth at home.

** South Korea’s third-largest movie theatre chain Megabox Inc is being sold in an auction, sell-side advisor Nomura Holdings said on Wednesday, in a deal estimated by media to be worth about $580.13 million.

** Auto parts maker TRW Automotive Holdings Corp said it would sell its engine valve business to Federal-Mogul Holdings Corp for $385 million.

** Greek electricity grid operator ADMIE, fully owned by the country’s biggest power producer Public Power Corp SA, signed a 240 million euro ($310.39 million) project with foreign and local firms to connect Greek islands with the mainland grid.

** Egyptian financial investment firm Pioneers Holding expects to buy Arab Dairy Products Co SAE in a deal worth 252 million Egyptian pounds ($35.24 million) this year, Pioneers’ CEO said on Wednesday.

** The top shareholder in Egypt’s largest dairy and juice company Juhayna Food Industries SAE has sold a 1.2 percent stake, the company said on Wednesday, in a deal worth around 100 million Egyptian pounds ($13.98 million)

** European Bank for Reconstruction and Development said on Wednesday it sold a 2.44-percent stake in Poland’s largest media group Cyfrowy Polsat SA.

** Aboitiz Power Corp, one of the Philippines’ largest electricity producers, is looking at acquiring power assets in Southeast Asia as it approaches a domestic cap on generation companies, a senior official said on Wednesday.

** The Philippines’ most diversified conglomerate San Miguel Corp is considering making a bid for British snacks maker United Biscuits (UK) Ltd (IPO-UNI.L), its chief executive said on Wednesday.

** Norwegian oil services firm Kvaerner ASA, which has struggled with high costs and the loss of contracts to cheaper Asian rivals, may seek partners and could see a change in its ownership structure, it said on Wednesday.

** A main stakeholder in German defence firm Krauss-Maffei Wegmann (KMW) is standing by plans for the tank maker to merge with French rival Nexter despite reports the German economy minister favours an all-German deal between KMW and Rheinmetall.

** After months of staying largely silent on a deal he is trying to broker, billionaire William Ackman on Tuesday criticized Allergan Inc’s board of directors, urging them to “wake up” and at least listen to what potential purchaser Valeant Pharmaceuticals has to offer the Botox maker. ($1 = 0.7733 euro) (Compiled by Anya George Tharakan and Manya Venkatesh in Bangalore)

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