May 8, 2017 / 11:03 AM / 5 months ago

Deals of the day-Mergers and acquisitions

(Adds Parexel International, Private Bancorp and Goldman Sachs)

May 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Canada’s Hudson’s Bay Co has hired a debt restructuring adviser to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group, according to people familiar with the matter.

** Contract drug research firm Parexel International Corp is exploring a sale, sources familiar with the matter told Reuters on Monday.

** Dutch paint maker Akzo Nobel rejected a third takeover proposal from PPG Industries, leaving its larger U.S. rival to decide whether to make a formal bid without the support of Akzo’s board, or throw in the towel.

** South Africa’s Murray and Roberts will exit the Middle East as part of a 314 million rand ($23 million) disposal of its infrastructure and building business, it said after flagging lower full-year earnings.

** Coca-Cola South Africa said it had sold a 17.5 percent stake in carbonated fruit juice brand Appletiser to investment holding company African Pioneer Group, as part of a merger agreement with SABMiller.

** Tanker firm DHT Holdings rejected on Sunday a fifth takeover proposal from shipping tycoon John Fredriksen’s Frontline, calling the $500 million all-share bid “woefully inadequate”.

** Handbag maker Coach Inc said it would buy Kate Spade & Co for $2.4 billion as it looks to tap the popularity of its smaller rival’s quirky satchels and totes among millennials.

** Billionaire venture capitalist Tim Draper soon plans to take a step that even he, a long-time bitcoin aficionado, has eschewed to now: buying a new digital currency offered by a technology startup.

** TPG Growth, the growth capital arm of U.S private equity firm TPG Global, has agreed to acquire Medical Solutions, a U.S. medical staffing company, for around $500 million, people familiar with the matter said.

** Institutional Shareholder Services urged PrivateBancorp stockholders to reject Canadian Imperial Bank of Commerce’s latest takeover offer, citing possible Canadian housing market contagion that could undermine the $4.9 billion cash-and-stock bid.

** Goldman Sachs has launched an accelerated bookbuilt offering to institutional investors of 8.8 million existing shares in Danish utility and offshore wind farm developer Dong Energy, the U.S investment bank said on Monday.

** Durect Corp said it signed an up to $293 million deal with Swiss drugmaker Novartis AG’s Sandoz unit to develop and market Durect’s experimental non-opioid pain relief therapy, posimir, in the United States.

** Straight Path Communications Inc said an unnamed telecommunications company had raised its offer to buy the wireless spectrum holder, in the latest move in a bidding war with AT&T Inc.

** Comcast Corp and Charter Communications Inc announced a wireless partnership, as the cable providers seek to add more services in a bid to reduce customer churn.

** Archer Daniels Midland Co, one of the world’s largest agricultural merchants, said it agreed to buy a controlling stake in an Israeli grain trader, as it seeks to expand markets to boost profits that have been hampered by a global oversupply.

** U.S. broadcaster Sinclair Broadcast Group Inc said it would buy Tribune Media Co, one of the largest U.S. television station operators, for about $3.9 billion cash and stock, and assume about $2.7 billion in debt. (Compiled by Divya Grover and Sruthi Shankar in Bengaluru)

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