Deals of the day-Mergers and acquisitions November 25, 2019
November, 26th 2019
The following bids, mergers, acquisitions and disposals were reported by 21:00 GMT on Monday:
** The all-stock merger of CBS Corp and Viacom Inc is expected to close on Dec. 4, the companies said.
** EBay Inc will sell ticketing unit StubHub to ticket reseller Viagogo Ltd for $4.05 billion in cash, the companies said, nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses.
** Logistics company Wincanton Plc has decided to drop plans to make an offer to buy rival Eddie Stobart Logistics , citing concerns about the target’s financial performance and liquidity.
** European private equity firm CapVest has tapped potential bidders for its French nuclear medicine provider Curium, sources told Reuters, aiming for a deal that values the business at up to 3 billion euros ($3.31 billion).
** Software company Capgemini will stick to its bid of 14 euros ($15.43) per share for smaller rival Altran , its chief executive told Reuters, as it tries to fend off pressure from activist hedge fund Elliott for a higher offer.
** Charles Schwab Corp agreed to buy TD Ameritrade Holding Corp in an all-stock deal valued at $26 billion, creating a brokerage giant in a market that has been ravaged by price wars.
** Louis Vuitton owner LVMH has agreed to buy Tiffany for $16.2 billion in its biggest acquisition yet, as the French luxury goods maker bets it can restore the U.S. jeweller’s lustre by investing in stores and new collections.
** A group led by Japan’s Mitsubishi Corp will buy Eneco in a deal valuing the Dutch energy firm at 4.1 billion euros ($4.52 billion), Eneco said, beating off rival bids from Shell and private equity firm KKR.
** Canadian miner Kirkland Lake Gold Ltd said it would buy smaller rival Detour Gold Corp for about C$4.89 billion ($3.68 billion) in an all-stock deal, as it looks to scale up its mining operations and boost reserves.
** Shipping group CMA CGM said it planned to raise $2 billion to help finance its takeover of CEVA Logistics, with half the cash coming from selling port assets to its joint venture with China Merchants Port Holdings Co..
** Insurer Chubb Ltd said it will buy up to an additional 22.4% stake in Chinese insurer Huatai Insurance Group Co Ltd for 10.8 billion yuan ($1.53 billion), as it looks to bank on a rapidly growing sector in the country.
** Russia’s biggest mobile phone operator MTS has agreed to sell its Ukrainian business to Azerbaijan’s Bakcell for what analysts said was a cut-price $734 million.