June 26, 2015 / 10:10 AM / 3 years ago

Deals of the day- Mergers and acquisitions

(Adds FedEx, Penn Virginia, Generali, Altice, United Airlines, Guardian Life Insurance, EDF and Corpbanca)

June 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

** European private equity firm Cinven said it had agreed to buy a majority stake in German laboratory operator synlab. Cinven did not disclose the size of the transaction.

Reuters reported on Thursday Cinven would pay 1.7-1.8 billion euros ($3.92 billion) for synlab, according to three sources familiar with the deal.

** FedEx has asked the European Union’s competition regulator to approve its 4.4-billion-euro ($4.9 billion) bid for Dutch rival TNT Express, the U.S. package delivery service company.

** Penn Virginia Corp shareholder Lone Star Value Management LLC asked the U.S. oil and gas producer to consider strategic alternatives to explore “all credible proposals”.

** Canada-based drugmaker Valeant Pharmaceuticals International Inc has approached to buy Zoetis Inc, an animal-health company, the Wall Street Journal reported.

The company, spun off from Pfizer Inc in 2013, was valued at $24.85 billion as of Thursday’s close, according to Thomson Reuters data.

** Capital One Financial Corp and Apollo Global Management have bid for General Electric Co’s health-care finance unit, which could fetch more than $11 billion, Bloomberg reported.

** Italian insurer Generali sold a stake in Telecom Italia on the market and not to France’s Vivendi , which this week increased its holding in the phone group, sources close to the matter told Reuters on Friday.

** Crescent Point Energy Inc is poised to prevail in a shareholder vote on its proposed acquisition of energy producer Legacy Oil + Gas Inc, according to a source familiar with the matter.

Crescent Point said last month that it planned to acquire Legacy for shares and debt worth C$1.53 billion.

** European telecoms and cable group Altice would be interested in buying Dutch company KPN, its chief executive Dexter Goei was quoted in a Dutch newspaper as saying, but he added that the two companies were not in talks.

** German potash producer K+S said on Thursday it has received a takeover proposal from larger Canadian fertilizer producer Potash Corp of Saskatchewan Inc, potentially marking the start of a new takeover saga in the industry.

K+S said it was assessing its options. Two sources close to the matter however, said K+S will likely reject the 7 billion euro ($7.8 billion) takeover offer as being too low.

** Mexico’s industrial conglomerate Alfa said on Thursday the all-cash offer it and Harbour Energy have made to buy Canadian oil company Pacific Rubiales is “full, fair and final.”

The statement released by Alfa comes after Institutional Shareholders Services (ISS), an influential proxy advisory firm, recommended that the C$2 billion ($1.61 billion) sale of Pacific Rubiales Energy Corp should be rejected.

** French telecom group Orange said on Friday it would take Spanish rival Jazztel private after its $3.8 billion takeover was overwhelmingly backed by Jazztel shareholders.

** Drug developer Celladon Corp said on Friday it may liquidate itself if it were unable to find a buyer, and was suspending development of its gene therapy for heart failure.

** United Airlines has agreed to pay $100 million for a 5 percent stake in Azul SA, Brazil’s third-biggest airline, as it attempts to catch up with U.S. rivals with more established ties in South America’s biggest air travel market.

** Guardian Life Insurance Company of America is looking to sell RS Investments, its San Francisco-based asset management business, according to two sources familiar with the situation.

** Global mining company Rio Tinto has agreed to sell its stakes in two small Zimbabwean assets to private group RZ Morowa Holdings Limited, it said on Friday without disclosing the price.

** German media group ProSiebenSat.1 has agreed to buy 80 percent of German energy price comparison site Verivox from Oakley Capital for 170 million euros ($190 million).

** Fairfax India Holdings, a fund set up by Canadian investor Prem Watsa to target Indian assets, is set to take a majority stake in logistics firm National Collateral Management Services (NCMSL), two sources familiar with the matter said.

One of the sources said the deal, for a 70-75 percent stake in the commodities storage and services firm, could be worth $120 million to $150 million.

** U.S. activist hedge fund Elliott continued its public campaign against the proposed $8 billion merger of two Samsung Group companies on Friday, questioning the basis for the projected financial performance of the combined entity.

** French state-controlled utility EDF is still months away from formulating a firm offer for a majority stake in Areva’s nuclear reactor unit, a source familiar with the situation said.

** South Korea’s Samsung Electro-Mechanics Co Ltd said on Friday it will exit the hard disk drive motor business and sell assets related to the operations in order to concentrate its efforts on its core businesses.

** Shareholders of Chile’s Corpbanca approved on Friday a merger with the Chilean operations of Brazil’s Itau Unibanco, a step forward for the often troubled deal to create a new Latin American banking venture worth some $8 billion. ($1 = 0.8927 euros) (Compiled by Manya Venkatesh and Yashaswini Swamynathan in Bengaluru)

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