February 19, 2020 / 10:30 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds UniCredit, Nokia, updates Odey Asset Management, Embracer and Grand Parade Investments)

Feb 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:

** Finnish telecom networks maker Nokia Oyj said it has agreed to acquire privately-held U.S.-based company Elenion Technologies to boost its optical networking business and broaden its offering to telecoms operators.

** Hedge fund Odey Asset Management said it would oppose Anglo American’s 405 million pounds ($526 million) bid to acquire a huge fertiliser project from Sirius Minerals , saying the terms do not represent fair value.

** The head of UniCredit repeated in a letter to staff that Italy’s biggest bank had no intention of engaging in merger and acquisition deals following Intesa’s blitz move to buy rival UBI Banca.

** Shares in Embracer soared after the Swedish video game group said it was buying U.S. game developer Saber Interactive for up to $525 million and reported a sharp rise in quarterly core earnings.

** Grand Parade Investments (GPI) Ltd said it is selling the Burger King South Africa franchise and a related burger-making plant to private equity firm ECP Africa Fund for 697 million rand ($47 million).

** Caltex Australia Ltd said that Britain’s EG Group has offered to buy the convenience store, petrol station and refinery firm, rivalling Canada’s Alimentation Couche-Tard Inc’s twice-improved A$8.80 billion bid.

** LendingClub Corp on Tuesday agreed to buy U.S. digital lender Radius Bank in a cash-and-stock deal valued at $185 million, as it looks to gain access to a cheaper source of funding and offer a broader suite of banking services.

** Auto lender Ally Financial Inc on Tuesday agreed to acquire privately held CardWorks for $2.65 billion as it looks to diversify its consumer product offerings, supported by a growing and low-cost deposit base.

** Bunge Ltd has offered to buy two soy processing plants in Brazil from local crusher Imcopa, the U.S. grains trader said on Tuesday, reinforcing its position as the country’s biggest oilseeds processor.

** Brazil meatpacker JBS said in a securities filing Tuesday that it has agreed to acquire five case ready production facilities from Empire Packing Company, as well as the Ledbetter brand for $238 million. (Compiled by Ayanti Bera in Bengaluru)

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