June 13, 2018 / 1:31 PM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Stryker, Siemens, AltaGas, Neste, IFA Rotorion)

June 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:

** AT&T Inc won court approval on Tuesday to buy Time Warner Inc for $85 billion, rebuffing an attempt by U.S. President Donald Trump’s administration to block the deal and likely setting off a wave of corporate mergers.

** Hong Kong’s CK Infrastructure Holdings has made a A$12.98 billion ($9.8 billion) takeover offer for Australia’s biggest gas pipeline company, APA Group, offering a hefty 33 percent premium to tap into a hot gas market.

** Medical device maker Stryker Corp was not in discussions to buy rival Boston Scientific Corp, Stryker said in a regulatory filing, two days after reports of a potential deal between the two surfaced.

** Australia’s Investa Office Fund and Blackstone Group entered into a scheme implementation agreement through which the U.S. private equity giant would acquire the real estate investment trust for A$3.08 billion ($2.3 billion).

** Siemens AG is considering strategic options including a potential sale of its struggling business that makes large gas turbines for power plants, Bloomberg reported on Wednesday citing people familiar with the matter.

** A British parliamentary committee will question the CEOs of the UK’s no.2 supermarket Sainsbury’s and its third-biggest supermarket Asda ahead of their proposed combination, as scrutiny of the deal cranks up.

** Canadian utility AltaGas Ltd said it would sell a 35 percent stake in three hydroelectric projects in Northwest British Columbia for C$922 million ($707.87 million) to help fund its acquisition of U.S.-based WGL Holdings Inc.

** Finland’s centre-right government sold a stake of 5 percent in oil refiner and biofuel company Neste for 861 million euros ($1.0 billion), prompting criticism from the opposition that it gives up too much control of company.

** German car parts maker IFA Rotorion has been put up for sale by its family owners in a potential 500 million euro ($588 million) deal, two people close to the matter said.

** Johnson & Johnson said on Tuesday it has accepted private equity firm Platinum Equity’s $2.1 billion buyout offer for the company’s LifeScan Inc unit.

** France’s ERAMET increased its all-cash offer for Australia’s Mineral Deposits Ltd to A$1.75 a share, valuing the company at A$344.7 million ($261 million).

** Australia’s Gateway Lifestyle Group said it received a non-binding offer from Hometown Australia Holdings Pty Ltd and Hometown America Communities Ltd Partnership - a proposal that values the company at A$635 million ($480 million).

** Finnish utility Fortum has agreed to sell its 10 percent stake in Norwegian hydropower company Hafslund Produksjon to Svartisen Holding AS for 160 million euros ($188 million), it said.

** Vietnam’s Binh Son Refining and Petrochemical will offload a further 49 percent stake and not limit the sale to only strategic investors as previously planned, in order to attract more buyers, its chief executive officer said.

** South African frozen fish supplier Sea Harvest Group said a consortium of black investors it leads will buy the fishing business of domestic peer Viking Fishing Group for 885 million rand ($66 million). (Compiled by Nivedita Balu in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below