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Company News

Deals of the day-Mergers and acquisitions

(Adds Hudson’s Bay)

Dec 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Hudson’s Bay Co Chairman Richard Baker and his partners have approached the retailer’s minority stockholders, including bidding rival Catalyst Capital, to potentially raise their take-private bid, a source familiar with the matter said.

** A Tencent-led consortium is taking a 10% stake in Vivendi’s Universal Music Group, valuing the music label that houses Lady Gaga and The Beatles at 30 billion euros ($34 billion) and giving the Chinese firm a global backstage pass.

** A unit of state-owned China National Gold Group put its 63% stake in an indebted copper miner up for sale on a Beijing government-run M&A platform for a token 1 yuan ($0.14).

** French electrical products and energy services company Rexel said it had agreed to sell its Gexpro Services unit, a business with sales of around $260 million, to private investment company LKCM Headwater.

** JPMorgan is seeking 100% ownership of its futures joint venture in China, Bloomberg reported, citing a person familiar with the matter.

** French aeronautics group Latecoere has agreed to buy Bombardier’s electrical wiring interconnection system business based in the Mexican state of Querétaro for around $50 million, the companies said. (Compiled by Arunima Kumar and Praveen Paramasivam in Bengaluru)

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