December 16, 2019 / 11:03 AM / 4 months ago

Deals of the day-Mergers and acquisitions

Dec 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday:

** International Flavors & Fragrances Inc on Sunday said it will merge with DuPont Inc’s $26.2 billion nutrition & biosciences unit in a deal that will create a new consumer giant valued at more than $45 billion.

** Swiss drugmaker Roche won clearance from Britain’s Competition and Markets Authority (CMA) for its planned $4.3 billion takeover of gene therapy company Spark Therapeutics, while a similar U.S. review continues.

** WPX Energy Inc is in talks to buy the oil and gas assets of closely held Felix Energy for about $2.5 billion, Bloomberg reported on Friday citing people familiar with the matter.

** A private equity arm of Macquarie Group Ltd is likely to sign a deal to buy Daesung Industrial Gases Co Ltd from Asian private equity firm MBK Partners later this week, a person with direct knowledge of the matter told Reuters.

** Britain’s Cineworld announced a $2.1 billion takeover of Canada’s Cineplex Inc which would make it the largest cinema operator in North America.

** Saks Fifth Avenue owner Hudson’s Bay Co has fallen short of securing enough shareholder support for a C$1.9 billion ($1.4 billion) deal to take the department store operator private, people familiar with the matter said on Friday.

** Oman’s state-owned Electricity Holding Company, also known as Nama, has sold a 49% stake in Oman Electricity Transmission Co. to State Grid Corporation of China, raising around $1 billion, Mansoor Al Hinai, a Nama spokesman, said on Sunday.

** Canada Jetlines Ltd said on Friday it has entered into a letter of intent (LOI) with U.S. based charter airline Global Crossing Airlines (GLOBALX) for a business combination.

** Chinese fintech company Ant Financial Services and U.S. asset management firm The Vanguard Group have established a joint venture to provide retail investment advisory services in China, the companies said in a statement on Saturday.

** A unit of ByteDance, the owner of video-sharing platform TikTok, has established a joint venture with a Chinese state media group, official registration documents showed.

** Australia’s National Veterinary Care Ltd entered into an initial agreement to be acquired by a veterinary clinic chain operator, in a deal valued at A$248.4 million ($168.56 million).

** Gold miners Endeavour and Centamin have agreed to assess the feasibility of a merger, following a weekend meeting between top managers of the two companies, Endeavour said, driving Centamin’s share price higher.

** Japanese telecom company KDDI Corp is taking a 2.1% stake in convenience store chain Lawson as part of a tie-up in smartphone payment services, amid a push by the government and businesses to bolster their digital options.

** Shares in German property group Adler Real Estate rose as much as 10.5% after an agreed takeover offer by domestic peer Ado Properties on Sunday that marked further consolidation in the sector.

** Australia’s largest supermarket operator Woolworths Group said its shareholders have approved the first stage of a plan to combine and spin off its drinks and hospitality businesses. (Compiled by Trisha Roy in Bengaluru)

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