February 21, 2018 / 9:09 PM / 8 months ago

Deals of the day-Mergers and acquisitions

(Adds Boeing, Rite Aid Corp, Bombardier; Updates Broadcom, Telecom Italia)

Feb 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2045 GMT on Wednesday:

** Microchip maker Broadcom Ltd cut its bid for Qualcomm Inc by 4 percent to $117 billion as it objected to Qualcomm’s decision to raise its own bid for NXP Semiconductors NV to $44 billion.

** Bombardier should be “on alert” for merger opportunities that will enable its transportation unit to compete with larger rivals in an industry that is consolidating to help reduce costs, the chief executive of its biggest independent shareholder said.

** U.S. grocer Albertsons Cos Inc said it would buy drug store chain Rite Aid Corp to create a company with $83 billion in annual revenue, giving it more clout to compete with bigger chains in an industry fearing the entry of Amazon.Com .

** Boeing Co sees a “great strategic fit” in a possible acquisition of Brazilian plane maker Embraer SA but the deal is not essential, Boeing Chief Executive Officer Dennis Muilenburg said.

** Italy’s competition watchdog has extended a probe into Telecom Italia to see whether the former state telephone monopoly hindered new rival Open Fiber’s efforts to roll out an ultrafast broadband network.

** Temenos agreed to a 1.4 billion pound ($1.96 billion) takeover of British software peer Fidessa Group on Wednesday, whose shares traded above the offer price after activist investor Elliott Capital Advisors disclosed a stake.

** Thai oil and gas company PTT Pcl said it would increase its stake in oil refiner IRPC Pcl, purchasing all the shares held by state-run lender Government Savings Bank for 13.85 billion baht ($439.26 million).

** South Korean cosmetics and pharmaceuticals contract manufacturer Korea Kolmar Co beat out private equity firms for a deal to buy domestic health foods and drugmaker CJ HealthCare for $1.2 billion, sending its shares soaring.

** China Hanking Holdings Ltd launched a takeover bid for Australia’s Primary Gold Ltd in line with a plan to build a long-term Australian gold business, valuing the target firm at A$37.5 million ($29.6 million).

** French telecoms group Orange has no plans to merge with a rival in Germany or expand in another country in Africa, Chief Executive Officer Stephane Richard said.

** U.S. drugmaker Merck & Co, already one of the leaders in the hot area of cancer immunotherapy, said it had agreed to buy Viralytics for 502 million Australian dollars ($394 million) to expand its pipeline in the sector.

** Germany’s Robert Bosch said it has acquired a carpooling start-up in the United States and created a new digital unit to further its expansion into data-based mobility services.

** Dutch energy firm Eneco Group said it would buy from Uniper SE all E.ON branded sales and supply activities in the Benelux, representing about 200,000 retail and business customers.

Compiled by Anirban Paul and Taenaz Shakir in Bengaluru

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