Company News

Deals of the day-Mergers and acquisitions

(Adds 3M, Petrobras, Fiat Chrysler, Gbfoods)

May 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** 3M Co said it would buy privately held medical device maker Acelity Inc in a deal valued at $6.7 billion, including debt, as the U.S. industrial conglomerate looks to expand its business in medical dressings and related products.

** Australian property developer Villa World received a sweetened takeover offer from AVID Property Group Australia Pty, which now values the company at A$293.5 million($205.9 million).

** Australian retail conglomerate Wesfarmers Ltd offered A$776 million ($544 million) to buy lithium miner Kidman Resources Ltd, its second bid in two months to deepen its exposure to high-tech minerals.

** Activist fund firm Cevian Capital, Ericsson’s largest owner, said it had made “a minor adjustment” in its holding in the mobile network gear maker, selling 22 million B-shares in recent months.

** Petrobras Distribuidora SA, Brazil’s largest fuel distributor, has received five bids from retailers to partner for the operation of its convenience stores in gas stations, one source with knowledge of the matter said.

** Italian infrastructure fund F2i has submitted a binding offer for Telecom Italia’s broadcasting unit Persidera, two sources close to the matter told Reuters.

** British Steel won approval from a French court to buy the Ascoval steel mill in northern France, in a deal that should help save jobs at the site and allow British Steel to expand in Europe as Brexit concerns weigh on its domestic market.

** Spain’s Gbfoods, part of the family-owned Agrolimen group, has entered into exclusive final negotiations with private equity firm CVC to buy Continental Foods, the companies said.

** Fiat Chrysler Automobiles said it had completed the sale of its car parts unit Magneti Marelli to Calsonic Kansei for 5.8 billion euros ($6.5 billion), slightly below the initial price tag due to the unit’s changed financial position.

** Brazil’s Patria Investments is planning to sell power company Argo, newspaper O Estado de S. Paulo reported.

** Indigo Partners and Lufthansa are among the likely bidders for Thomas Cook’s airline business, with a deadline of May 7 set for expressions of interest, sources said.

** Chinese homegrown sports brand Xtep International Holdings Ltd said it would buy K-Swiss owner E-Land Footwear USA Holdings Inc for $260 million in an all-cash deal, as it aims to grow into a multi-brand portfolio group.

** Bombardier put its Belfast wing-making factory on the block as part of a wider shake-up, while the plane and train maker’s failure to commit to meeting its 2020 goals sent shares lower.

** South African Health and wellness group Ascendis Health said it will sell three businesses within its Biosciences division to a consortium for 480 million rand ($33 million) as part of a strategic review.

Reporting by Shradha Singh in Bengaluru