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« Mergers and Acquisitions »
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Deals Of The Day-Mergers And Acquisitions October 1, 2018
October, 01st 2018

The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Monday:

** Canadian oil and gas producer Husky Energy Inc said on Sunday it has made an unsolicited bid to acquire rival MEG Energy Corp in a deal valued at C$6.4 billion ($5 billion) including debt.

** Singapore’s OCBC Bank said that a planned sale of Hong Kong Life Insurance to investment firm First Origin had been called off after the buyer failed to meet certain conditions before a Sept. 30 deadline.

** British outsourcing firm Mitie Group Plc said it would sell its pest control business to Rentokil Initial Plc for 40 million pounds ($52.1 million) cash, as it looks to focus on its core businesses as part of a restructuring.

** India moved to take control of Infrastructure Leasing and Financial Services (IL&FS), whose recent defaults have roiled Indian markets, in a rare move highlighting the extent of the woes at the debt-laden financing and construction firm.

** Honeywell International Inc, which makes everything from jet engines to thermostats, said it will buy Germany-based Transnorm for about 425 million euros ($492.8 million) from IK Investment Partners to boost its presence in the warehouse automation market.

** French supermarket group Casino said it had agreed to sell some properties of its Monoprix chain for 565 million euros ($655 million) to reduce debts that have worried investors and led to downgrades in its credit rating. (Compiled by John Benny in Bengaluru)

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