April 6, 2018 / 8:00 PM / 2 years ago

Deals of the day-Mergers and acquisitions

(Adds Supervalu, Allen & Overy; Update Ehi Car Services, Netflix)

April 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Walmart completed a thorough due diligence process on e-commerce firm Flipkart this week, two sources said, as the U.S. retail giant looks to take a controlling stake of 51 percent or more in the Indian company.

** Netflix Inc is offering more than $300 million to buy a company that owns billboards across Los Angeles, including on West Hollywood’s famed Sunset Strip, a move that could help it save money maintaining a high profile in the world’s entertainment capital, according to people familiar with the matter.

** Chinese car rental company Ehi Car Services Ltd said the company would be taken private by a consortium led by its Chief Executive Officer Ray Ruiping Zhang in a deal valued at about $937.5 million.

** U.S. supermarket operator Supervalu Inc is exploring a potential sale following pressure from activist shareholders, including Blackwells Capital LLC, a person familiar with the matter said.

** British law firm Allen & Overy is in merger talks with U.S. firm O’Melveny & Myers, which would create a business with combined revenue of 2 billion pounds ($2.82 billion) and total lawyer count of around 3,000, UK’s Legal Week reported.

** China’s Ausnutria Dairy Corporation Ltd said CITIC Agri Fund Management Co Ltd would buy a 25.18 percent stake for a total of HK$1.96 billion ($250 million), becoming the dairy products supplier’s biggest shareholder.

** Japanese online brokerage firm Monex Group Inc will buy Coincheck Inc, the exchange at the center of a $530 million digital money heist, for 3.6 billion yen ($33.6 million), the latest move by a mainstream finance firm into the cryptocurrency market.

** A Hong Kong-based activist investment fund said Toshiba Corp’s chip unit was worth as much as $40 billion, double the sale price agreed with a Bain-led consortium, as it escalated its opposition to the deal.

** Swiss engineering group ABB will invest 100 million euros ($122 million) in an innovation and training campus in Austria to develop technologies for its industrial automation unit, it said.

** South Korea’s Kumho Tire said it plans to issue new shares worth 646 billion won ($604.99 million) to Qingdao Doublestar Co Ltd as part of an agreed deal for the Chinese company to assume control over it.

** The U.S. Justice Department presented evidence on Thursday to show that AT&T, owner of DirecTV, viewed buying Time Warner as a way to make viewers stick with their pay TV service instead of moving to cheaper online providers.

** Brazilian electricity company Energisa said on Thursday its board has approved a bid to buy Eletropaulo, Brazil’s largest power distribution company, for 19.38 reais per share. (Compiled by Uday Sampath and Akankshita Mukhopadhyay in Bengaluru)

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