February 21, 2017 / 11:36 AM / 9 months ago

Deals of the day-Mergers and acquisitions

(Adds Yahoo, Tronox, FelCor Lodging, Bristol-Myers Squibb, Safaricom, Maersk)

Feb 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Tuesday:

** Kraft Heinz Co’s rapid retreat from its surprise $143 billion bid for Unilever in the face of stiff resistance knocked the Anglo-Dutch company’s shares on Monday as investors assessed the impact of the failed approach.

Kraft Heinz’s dropped bid to buy Unilever is the third-largest M&A deal to collapse, according to Thomson Reuters data, adding to a recent run of failures that highlights the appetite for the pursuit of audacious mega-mergers.

** Japan’s SoftBank Group Corp is prepared to give up control of Sprint Corp to Deutsche Telekom AG’s T-Mobile US Inc to clinch a merger of the two U.S. wireless carriers, Reuters reported on Friday.

** South Africa’s Steinhoff and grocery retailer Shoprite called off a deal on Monday to create an African shopping giant, preventing leading investor Christo Wiese from bringing more of his retail assets under one roof.

** Vale SA plans to become a company with no defined controlling shareholder as soon as possible, in a landmark step aimed at enhancing transparency and equal rights for all shareholders in the world’s largest iron ore producer.

** Energy Future Holdings Corp , which owns the largest power network in Texas, received court approval on Friday to confirm its plan to exit bankruptcy and be acquired by NextEra Energy Inc in a deal valued at around $18 billion.

** A consortium led by Russian oil major Rosneft plans to finally complete its $12.9 billion acquisition of India’s Essar Oil next month, two Russian sources close to the deal told Reuters on Monday.

** Japan’s Toshiba Corp wants to raise at least 1 trillion yen ($8.8 billion) by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said.

** Verizon Communications Inc said it would buy Yahoo Inc’s core business for $4.48 billion, lowering its original offer by $350 million in the wake of two massive cyber attacks at the internet company.

** Sumitomo Mitsui Financial Group (SMFG) and Resona Holdings Inc are in talks to merge some of their units, sources said on Monday, in what would be the latest in a slow but steady wave of consolidation in Japan’s regional banking industry.

** China’s Sinochem is exploring the sale of its 40 percent stake in Brazil’s Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the state-owned conglomerate walk away from what was once touted as a key overseas asset because of historically low oil prices. The oil and chemicals firm agreed to buy the stake from Norway’s Statoil for $3.07 billion in 2010.

** Canadian satellite company MacDonald Dettwiler and Associates Ltd is in talks to buy U.S.-based DigitalGlobe Inc for about $2 billion to $3 billion, Dow Jones reported on Friday, citing sources.

** PSA Group has pledged to respect existing Opel and Vauxhall job guarantees if it buys the European arm of General Motors, though some analysts say thousands of jobs are eventually likely to go for the deal to work.

The chief executive of PSA Group will meet British Prime Minister Theresa May to discuss his firm’s planned acquisition of General Motors’ Opel and Vauxhall operations, a government spokesman said on Saturday.

** The court-appointed manager of Morocco’s oil refiner Samir said on Monday he had received about 20 offers for the company from foreign investors. Court-appointed experts value the company at 21.6 billion dirhams ($2.1 billion).

** Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, said it would acquire Popeyes Louisiana Kitchen for $1.8 billion in cash.

** Chinese automaker Zhejiang Geely Holding Group Co is expected to bid as early as this week for a strategic partnership with struggling Malaysian car maker Proton Holdings Bhd, two people familiar with the bidding process told Reuters on Monday.

** Chemical maker Tronox Ltd said it would expand a business that makes titanium dioxide, a whitening pigment used in paints, with a $1.67 billion deal.

** Spain’s Telefonica said it had agreed to sell up to a 40 percent stake in its telecom masts subsidiary Telxius to private equity firm KKR for 1.275 billion euros ($1.35 billion).

** Lodging real estate investment trust Ashford Hospitality Trust Inc offered to buy FelCor Lodging Trust Inc in a deal worth about $1.27 billion.

** Chinese conglomerate Dalian Wanda’s proposed $1 billion purchase of Hollywood’s Dick Clark Productions Inc is under pressure but is not yet over, sources told Reuters on Tuesaday, amid high U.S.-China tensions and tight scrutiny by Beijing on outbound deals.

** Malaysian state-owned oil and gas firm Petronas is aiming to sell a large minority stake in a prized upstream local gas project for up to $1 billion as it seeks to raise cash and cut development costs, two sources familiar with the matter said.

** Telecommunications company Spark has asked a New Zealand court to rule a 36-hour pause must take place before Sky Network Television can buy Vodafone’s New Zealand unit VOD.L if the competition regulator approves the deal.

** Fiber-based service provider Lumos Networks Corp said on Monday it agreed to be bought by investment firm EQT Infrastructure in an all-cash deal with an enterprise value of about $950 million.

** Norwegian biotech newcomer Nordic Nanovector, which seeks ways to treat blood-related cancers, says other companies are showing intrest in buying the firm.

** A consortium led by Belgian publisher Mediahuis has raised its offer for Telegraaf Media Group (TMG), matching a rival 273 million euro ($290 million) bid by Dutch billionaire John de Mol, sending TMG shares up as much as 5 percent.

** Havells India Ltd, a leading maker of lights and fans, has agreed to buy a unit of Lloyd Electric and Engineering Ltd that sells air conditioners and televisions in a 15.5 billion-rupee deal ($231.14 million), the companies said on Sunday.

** U.S.-based Northern Trust is buying UBS Group’s UBS Asset Management fund administration servicing units in Luxembourg and Switzerland, UBS said on Monday.

** Bristol-Myers Squibb Co said it appointed three directors to its board in a deal with JANA Partners LLC, an activist investor holding less than 1 percent of the company’s stock.

** A Kenyan lawmaker proposed breaking up Safaricom , the country’s biggest telecoms operator, because of its role in providing mobile financial services.

** EU antitrust regulators will decide by March 27 whether to clear world No. 1 shipping company Maersk Line’s bid for German rival Hamburg Sud, its first major deal for more than a decade.

** Kineticor, a small privately held power producer, has partnered with one of Canada’s largest pension funds to buy a half-finished oil sands power plant in northern Alberta that was part of an abandoned Royal Dutch Shell project, the company said on Friday. (Compiled by Ankit Ajmera in Bengaluru)

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