Deals of the day-Mergers and acquisitions Oct 9, 2017
October, 10th 2017
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday:
** Honeywell International Inc plans to spin off non-core assets and create at least two new publicly listed companies, as the U.S. industrial conglomerate seeks to streamline its business, according to people familiar with the matter.
** Singapore's City Developments has offered to buy the remaining shares of Millennium & Copthorne Hotels (M&C) it does not own in a deal that values the UK-listed hotels group at about 1.8 billion pounds ($2.35 billion).
** Advisers to China's Sinopec have offered its oil assets in Argentina to about a dozen potential suitors, three sources familiar with the matter said, as losses and labour headaches prompt Asia's largest refiner to pull out.
** The subprime lender OneMain Holdings Inc has put itself up for sale and is running an auction to solicit takeover bids, according to a person familiar with the matter.
** France's Accor SA has bid A$1.18 billion ($920 million) for Mantra Group Ltd - a deal that would combine the two biggest hotel owners in Australia and seek to capitalise on surging tourism in the country.
** Bpost, Belgium's national postal deliverer, said it has agreed to buy U.S.-based e-commerce service provider Radial for $820 million including debt.
** Australia's AMP Capital has bought U.S. logistics group ITS ConGlobal from Carlyle Infrastructure Partners, marking the Australian fund manager's largest-ever North American deal.
** Australian almond producer Select Harvests Ltd said on Monday it received a takeover proposal from United Arab Emirates sovereign wealth fund Mubadala Investment Company PJSC for A$5.85 ($4.54) per share, a 39 percent premium to its previous close on Wednesday.
** Australian engineering firm WorleyParsons Ltd said it would buy the former upstream oil and gas assets of Britain's Amec Foster Wheeler Plc for 228 million pounds ($298 million), marking its entry into the UK North Sea market.
** Credit Agricole's chief, Philippe Brassac, has expressed interest in Commerzbank if the German lender were to be up for sale, according to an interview with the Handelsblatt newspaper.
** Oman Telecommunication Co (Omantel) said it had agreed to buy a 12 percent stake in Kuwaiti telecommunications firm Zain in a deal that will more than double its stake.
** State-run oil giant Saudi Aramco is in talks with several Indian refiners and hopes to land a joint venture deal by next year, the company's chief executive told Reuters on Sunday. (Compiled by Arunima Banerjee in Bengaluru)