January 18, 2018 / 9:06 PM / in 7 months

Deals of the day-Mergers and acquisitions

(Adds Peugeot, CanniMed Therapeutics, BNP Paribas; Updates Wyndham )

Jan 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** British engineering group GKN dismissed Melrose’s 7.4 billion pound ($10.2 billion) hostile bid as “misleading” and denied it was rushing into a break-up.

** The largest shareholder in Belgian biotech group Ablynx regards the 2.6 billion euro ($3.2 billion) offer made by Denmark’s Novo Nordisk as too low but would be willing to consider a higher figure.

** Wyndham Worldwide Corp will buy La Quinta Holdings Inc’s hotel operations for $1.95 billion, it said on Thursday, adding another well-known U.S. brand and nearly 900 mid-scale, upper mid-scale and economy locations to its portfolio.

** Auto parts distributor Realord Group Holdings Ltd said it would buy property assets in Shenzhen for an aggregate 6.22 billion yuan ($968.4 million), in a bid to enhance its investment property portfolio.

** France’s BNP Paribas is the frontrunner to buy the depositary banking business of Italy’s Banco BPM, which could be worth around 200 million euros ($245 million), two sources close to the matter said.

** Peugeot SA is “very open” to a potential alliance in Latin America, the chief executive of the French automaker, Carlos Tavares, said during a media briefing.

** Canadian cannabis producer CanniMed Therapeutics Inc said it has postponed a shareholder vote on its proposed takeover of Newstrike Resources Ltd to allow it to discuss a possible transaction with hostile suitor Aurora Cannabis Inc.

** North Sea-focused oil and gas producer EnQuest has hired investment bank Jefferies to advise on a sale of a 20 percent stake in its recently-started Kraken field, according to a document seen by Reuters.

** The German state of Bavaria could sell its 1.44 percent stake in energy firm E.ON to fund the development of new housing, its finance minister Markus Soeder said. (Compiled by Manas Mishra and Arunima Banerjee in Bengaluru)

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