January 26, 2016 / 9:04 PM / in 2 years

Deals of the day-Mergers and acquisitions

(Adds DuPont, Meredith Corp, Lockheed Martin and others)

Jan 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Lockheed Martin Corp announced on Tuesday a $5 billion tax-free deal to combine its information systems and government services business with Leidos Holdings Inc, and the company forecast 2016 profit below analysts’ expectations.

** Huntington Bancshares Inc said it had agreed to buy Ohio-based FirstMerit Corp for about $3.4 billion in a cash-and-stock deal.

** Chemicals and seed producer DuPont is unlikely to have to make significant asset sales to get regulatory clearance for its merger with Dow Chemical Co, DuPont CEO Edward Breen told Reuters.

** David Einhorn’s hedge fund Greenlight Capital said it has been in talks with SunEdison Inc regarding a board seat and that it is looking to sell the solar company’s assets or even the company itself.

** Toyota Motor Corp and Suzuki Motor Corp are discussing a potential partnership from a variety of angles, with cross-shareholdings a possibility, the Japanese financial daily Nikkei reported, without identifying its source.

** Mannkind Corp, the U.S. maker of inhaled insulin drug Afrezza, is exploring strategic options, including selling itself, people familiar with the matter said on Tuesday.

** Meredith Corp is planning to walk away from its merger with Media General, which paves the way for Nexstar Broadcasting Group to acquire Media General, according to a source familiar with the matter.

** Dutch medical equipment and lighting group Philips is likely to sell its Lumileds division in the second half of this year at a lower price than the $3.3 billion it had initially envisaged, Chief Executive Frans van Houten said.

** Swedish industrial rubber maker Trelleborg is in talks to sell its roughly 1 billion euro ($1.1 billion) stake in TrelleborgVibracoustic to buyout group KKR as a possible alternative to a stock market listing for the car parts business, according to two sources.

** French billionaire Xavier Niel’s telecoms group Iliad has approached British telecoms regulator Ofcom to express “preliminary” interest in entering the UK mobile market, the Financial Times reported, citing people familiar with the matter.

** Canadian insurer Sun Life Financial Inc signed a C$530 million ($375.6 million) annuity deal on Tuesday with two Canadian companies looking to reduce the risk on their pension plans.

** Eletrobras, Brazil’s state-run electricity company, will delay the sale of six power distribution companies it controls in the northern part of the country until 2017, a company source familiar with the decision told Reuters on Tuesday.

** Italy’s biggest utility Enel has received non-binding bids for upstream gas assets in Italy and Algeria that it put up for sale and it expects to wrap up the sale process within a couple of months, its chief executive said on Tuesday.

** Capital Group Companies has sold a 2 percent stake in Swiss agrichemical group Syngenta last week, Swiss exchange data showed on Tuesday.

** German reinsurer Munich Re said it would buy an additional 23.27 percent stake in India’s Apollo Munich Health Insurance Co Ltd from its joint venture partner Apollo Hospitals Group India for 1.64 billion rupees ($24.2 million).

** Sony Corp said it will buy Israeli chipmaker Altair Semiconductor for $212 million, stepping up its investment in chip technology after strong sales of camera sensors in the last few years helped turn around the business.

** Two German government sources on Tuesday denied a report in the Handelsblatt newspaper that Berlin had given its consent to sell Airbus Group’s defense electronics unit to two U.S. buyout groups.

** German Economy Minister Sigmar Gabriel has delayed a decision on plans by the country’s biggest supermarket group Edeka to buy grocery chain Kaiser’s, owned by retail group Tengelmann, a ministry spokeswoman said. (Compiled by Manish Parashar in Bengaluru)

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