April 12, 2017 / 10:21 AM / in a year

Deals of the day-Mergers and acquisitions

(Adds Meredith, YPF, Prysmian and Fosun International; updates Western Digital)

April 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Dutch drinks bottler Refresco said it had rejected a 1.4 billion euro ($1.49 billion) takeover offer from French private equity investor PAI Partners after its board concluded the offer was inadequate.

** European Union regulators cleared U.S. car supplier Lear’s takeover of the seats and metals business of Spain’s Grupo Antolín-Irausa, saying it would still face sufficient competition.

** ChemChina’s $43 billion planned takeover of Swiss pesticides and seeds group Syngenta has received approval from China’s Ministry of Commerce, the two companies said. Syngenta said Mexican regulatory conditions for approving the deal will not have a major impact on the business.

** Talks about uniting the rail operations of Germany’s Siemens and Canada’s Bombardier are being complicated by the desire of both companies to keep control of a merged business, two people close to the matter said on Wednesday.

** Two of the stakeholders in Brazilian hydroelectric dam Santo Antonio have broken off talks with potential Chinese buyer State Power Investment Corp after rejecting the value and terms of its proposal, a newspaper reported.

** Rebel shareholders in Dutch paint maker Akzo Nobel want to oust the company chairman after Akzo refused to engage in takeover talks with U.S. rival PPG Industries .

** Western Digital Corp has warned Toshiba Corp that the Japanese firm is violating a joint venture contract in plans to sell to its chip unit and urged that it be given exclusive negotiating rights.

** U.S. pipeline operator NuStar Energy LP said on Tuesday it would buy privately held Navigator Energy Services LLC for about $1.48 billion, as it seeks to expand into the Permian basin.

** British American Tobacco (BAT) said it had agreed with Bulgarian cigarette maker Bulgartabac to acquire some of its leading cigarette brands in a deal worth more than 100 million euros ($106 million).

** U.S. media group Meredith Corp has made a preliminary acquisition offer to Time Inc that fell short of the price expectations of the publisher of Sports Illustrated and Fortune magazines, according to people familiar with the matter.

** Argentina’s state-run oil company YPF SA and Schlumberger AG, the world’s top oil services provider, have reached a deal to invest $390 million in the Vaca Muerta shale field in Patagonia, YPF said.

** Italy’s Prysmian, the world’s largest cable maker, is discussing potential acquisitions but does not want to overpay and offers it has submitted so far have been rejected, Chief Executive Valerio Battista said.

** China’s Fosun International Ltd plans to sign an agreement to buy a stake in Russia’s largest gold producer Polyus, Interfax news agency quoted Russian First Deputy Prime Minister Igor Shuvalov as saying. ($1 = 0.9383 euros) (Compiled by Komal Khettry and Divya Grover in Bengaluru)

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