June 23, 2014 / 10:09 AM / 4 years ago

Deals of the day- Mergers and acquisitions

(Adds Shire, Banco Popular, Nibe, SNC Lavalin Group)

June 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** Shire Plc flagged the promise of existing and new drugs on Monday as evidence that AbbVie’s $46 billion offer undervalued the company, the latest British firm to be targeted by a U.S. group seeking lower taxes.

** Allergan Inc advised investors not to sell their shares to Valeant Pharmaceuticals International which launched a hostile takeover offer for the California-based Botox maker last week, saying it was “grossly inadequate.”

** Oracle Corp said it would buy Micros Systems in a $5.3 billion deal to expand its offerings for the hospitality and retail industries. The offer of $68 per share represents a premium of 3.4 percent to Micros’ Friday close.

** Canada’s SNC-Lavalin Group Inc will buy resource-sector engineering group Kentz Corp in a 1.16 billion pound ($2 billion) deal that SNC said on Monday would accelerate its turnaround plan, including the sale of non-core assets.

** Harbinger Group Inc, the holding company for Spectrum Brands, said it had offered to buy retailer Central Garden & Pet Co for $10 per share, or acquire its pet business for $750 million.

** Spain’s Banco Popular has agreed to buy Citi’s retail banking and credit card business in Spain, a sign that foreign banks are retreating from the country’s financial services market in the wake of the financial crisis.

** Swedish heat pump manufacturer Nibe said on Monday it had made a recommended bid worth 2.4 billion Swedish crowns ($356 million) for Toronto-listed Waterfurnace.

** In a fresh twist to the battle for Club Mediterranee , Italian tycoon Andrea Bonomi is challenging a regulator’s decision to set an end-June deadline for one of his funds to make a rival bid for the resort operator, or be banned for six months from doing so.

** Wisconsin Energy Corp said it would buy Integrys Energy Group Inc for $5.71 billion to create a larger, more diverse Midwest electric and natural gas delivery company.

** Augusta Resource Corp said it agreed to be bought by HudBay Minerals Inc after the company raised its offer to buy Augusta shares it does not already own.

** Canadian engineering and construction company SNC-Lavalin Group Inc said it would acquire British energy services provider Kentz Corp for about 1.164 billion pounds ($1.98 billion) in cash to expand its offerings in the oil and gas sector.

** Philippine lender Rizal Commercial Banking Corp (RCBC) is studying option to sell a stake to raise capital to comply with regulations and support the bank’s growth plans, its chief executive said late on Monday.

** Bulgaria will nationalize Corporate Commercial Bank (Corpbank) by July 21 if shareholders fail to provide the country’s fourth-largest lender with the funding it needs after a run on deposits, the finance minister said.

** France won an option to buy 20 percent of Alstom from conglomerate Bouygues on Sunday, in an eleventh-hour deal clearing the way for the agreed sale of most of Alstom’s energy business to General Electric.

** Spain’s Santander is buying GE Money Bank, GE Capital’s consumer finance business in Sweden, Norway and Denmark, for 700 million euros ($950 million) in its latest move to diversify away from its struggling domestic market.

** Bilfinger said 99 percent of shareholders in GVA Grimley Holdings had accepted its purchase offer, paving the way for the German engineering and services company to completely acquire the privately owned UK real estate group.

** South Africa’s Alexander Forbes confirmed it intended to float unlisted shares on the Johannesburg bourse and that a unit of Marsh & McLennan would become a strategic investor with 34 percent stake after the listing.

** Japanese financial company Orix Corp said it plans to buy a majority stake in automobile prototype maker Arrk Corp from a government-sponsored fund, its latest in a string of acquisitions.

** BMW said it had extended its joint venture with Brilliance China Automotive Holdings until 2028, a move which analysts say would help both companies continue expanding in the world’s largest car market.

** Qatari property developer Barwa Real Estate said it was selling its 95 percent stake in Barwa Commercial Avenue Co to the property arm of the country’s sovereign wealth fund for 9.0 billion riyals ($2.5 billion).

** Larsen & Toubro Ltd, India’s biggest engineering and construction company, said a unit of Canada Pension Plan Investment Board had agreed to invest an initial 10 billion rupees ($168 million) in its infrastructure development arm.

** South Korea will split the sale of its 57 percent stake in Woori Bank, the country’s second-largest bank, into two tranches, with the largest portion - an offering of 30 percent - seen worth roughly $3 billion. Woori Bank is the crown jewel in Woori Finance Holdings, accounting for 70 percent of its assets.

** The founder of Lululemon Athletica has turned to Goldman Sachs as he seeks a shake-up of the yoga retailer’s board of directors and may consider options including a proxy fight or joining a private equity firm in a buyout, the Wall Street Journal reported on Sunday.

** Britain’s biggest sporting goods retailer Sports Direct has signed a deal to take over a British gym and is in talks to buy more, marking its entrance into the health and fitness industry.

** Brazilian real estate developer JHSF Participacoes SA agreed to buy the 13 restaurants operated by Sao Paulo-based Grupo Fasano and the rights to the Fasano luxury brand name, the Folha de S. Paulo daily newspaper reported on Saturday.

** Dropcam, the home-monitoring camera startup, will be bought by Google Inc’s Nest Labs for about $555 million in cash, technology blog Re/code reported on Friday, taking another step deeper into consumers’ homes.

** Bank of Nova Scotia said on Friday it has agreed to purchase a 51 percent majority stake in Latin American retailer Cencosud’s retail credit card business in Chile for $280 million.

** Barclays Plc has launched a long-anticipated sale process for its Index, Portfolio and Risk Solutions (IPRS) business, which could yield around $400 million for the UK bank, according to people familiar with the matter.

** Box Inc, the online storage startup that filed to go public several months ago, is in discussions to secure a round of financing from private equity firm TPG, the Wall Street Journal cited people familiar with the talks as saying. ($1 = 2.23 Brazilian reais) ($1 = 0.74 euros) ($1 = 43.86 Philippine pesos) ($1 = 102.05 Japanese yen) ($1 = 1017.80 South Korean won) ($1 = 59.70 Indian rupees) ($1 = 3.64 Qatar riyals) ($1 = 1.09 Canadian dollars) ($1 = 0.59 British pounds) ($1 = 6.74 Swedish kronor) (Compiled by Shailaja Sharma and Ramkumar Iyer in Bangalore)

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