August 31, 2016 / 1:37 PM / in 2 years

Deals of the day- Mergers and acquisitions

(Adds Deere, Intersil, Infoblox, Deutsche Bank)

Aug 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** The U.S. Justice Department filed a lawsuit on Wednesday aimed at stopping Deere & Co from buying Monsanto Co’s Precision Planting farm equipment business.

** Intersil Corp may announce a sale to Renesas Electronics Corp as early as next week, choosing the Japanese semiconductor company over U.S. suitor Maxim Integrated Products Inc, people familiar with the matter said.

** Fosun international Ltd, China’s largest private conglomerate, is in talks to acquire a stake in Russian investment bank Renaissance Capital, two sources familiar with the matter told Reuters.

** U.S. network security firm Infoblox Inc has launched a process to sell itself after it received buyout interest from private equity firms and it came under pressure from activist fund Starboard Value LP, people familiar with the matter said.

** French nuclear power engineering group Areva has rejected a non-binding offer from General Electric for assets belonging to the Adwen offshore wind power joint venture between Gamesa and Areva, sources close to the talks told Reuters.

** Top executives of Deutsche Bank and Commerzbank held talks on a potential combination of Germany’s two biggest banks earlier this month, a source familiar with the matter said on Wednesday.

** Alere Inc alleges Abbott Laboratories is trying to stymie its planned $5.8 billion takeover of the diagnostics company by purposefully delaying key submissions to anti-trust regulators, according to a lawsuit made public on Tuesday.

** Contact center company Genesys agreed to buy Interactive Intelligence Group Inc for about $1.4 billion as it looks to build scale in the face of fierce competition in the telecommunications software and equipment industry.

** Israeli conglomerate Delek Group is considering spinning off its holdings in the large Tamar natural gas field into a separate publicly traded company.

** JX Holdings Inc, Japan’s biggest oil refiner by sales, has agreed to pay about 352 billion yen ($3.4 billion) in stock for TonenGeneral Sekiyu KK, the country’s third-largest refiner by sales.

** Twin Butte Energy debenture holders, who on Monday rejected a takeover bid by Reignwood Resources Holding Pte Ltd, have made an alternative proposal on the deal to the Canadian oil producer’s special committee, a source familiar with the situation said on Tuesday.

** India’s Zee Entertainment Enterprises Ltd said it has agreed to sell its sports broadcasting business to Sony Pictures Networks for $385 million, as it rejigs its media content delivery businesses.

** The head of Deutsche Bank called on Wednesday for cross-border bank mergers in Europe, seeing the sector’s fragmentation as placing an unacceptable squeeze on bank profits and long-term sustainability. John Cryan’s remarks will likely spur further discussion about the future of the struggling bank, although he was quick to throw cold water on reports that Deutsche examined a merger with Commerzbank, which is partly owned by the German state.

** Nexus Capital Management, a Hong Kong-based fund, has further increased its stake in China Vanke Co Ltd , the country’s biggest property developer currently embroiled in a high-profile power struggle, sending shares in Vanke higher.

** Private equity firm Vista Equity Partners Management LLC is exploring a sale of Aptean Inc, hoping a deal will value the U.S. business software company at more than $1 billion, including debt, according to people familiar with the matter.

** Motiva Enterprises LLC said on Tuesday the division of its U.S. refining assets between Royal Dutch Shell Plc and Saudi Aramco IPO-ARMO.SE would take place on April 1, 2017, months later than originally expected.

** Tecomet Inc, a privately held U.S. contract manufacturer of medical devices and surgical instruments, is exploring a sale that could value it at more than $1 billion, including debt, according to people familiar with the matter.

** Activist U.S. hedge fund Elliott Capital has raised its stake in British discount chain Poundland to 22.7 percent, putting it in a position to be able to block an agreed takeover by South African retailer Steinhoff.

** A consortium led by Bulgarian businessman Spas Roussev has taken control of Bulgaria’s leading telecoms operator Vivacom from Russia’s VTB Bank, after bidding 330 million euros ($368 million) for it in an auction. (Compiled by Akankshita Mukhopadhyay and Aishwarya Venugopal in Bengaluru)

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