Deals of the day-Mergers and acquisitions December 6, 2018
December, 07th 2018
The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:
** A federal court in Sao Paulo issued a decision blocking the proposed tie-up between planemakers Boeing Co and Embraer SA, according to a court document seen by Reuters.
** Lumentum Holdings Inc, seen by analysts as a parts supplier for Apple Inc’s Face ID technology, said it received antitrust clearance from China for its $1.7 billion acquisition of Oclaro Inc.
** Sears Holdings Corp Chairman Eddie Lampert’s ESL Investments Inc has made an offer valued at $4.6 billion to buy the bankrupt U.S. retailer, one of the only options that would prevent the department store chain from shutting its doors for good.
** Mallinckrodt Plc plans to spin off its specialty generics business to shareholders by the second half of 2019, but said it was still open to a sale of the unit.
** The Indian government approved a plan by a state-owned lender to the power industry, Power Finance Corp, to acquire a majority stake in a similar government-controlled lender, REC Ltd, Finance Minister Arun Jaitley said.
** A consortium of buyout firms Siris Capital Group LLC and hedge fund Elliott Management is nearing an agreement to acquire travel software company Travelport Worldwide Ltd, people familiar with the matter said.
** Thyssenkrupp expects to soon submit documents that the European Commission has requested to resume an in-depth investigation of its planned joint venture with Tata Steel , the company said.
** Kenya’s NIC Bank and Commercial Bank of Africa will hold talks on a potential merger, to combine their separate expertise in retail and corporate banking, they said in a joint statement.
** Barrick Gold Corp will sell a research and development company it owns and reduce its technology staff, the Wall Street Journal reported, citing people familiar with the matter.
** The U.S. Justice Department goes before an appeals court to urge a three-judge panel to overturn a lower court ruling and order wireless carrier AT&T Inc to undo its $85.4 billion purchase of entertainment company Time Warner, one of the largest media mergers ever.
** Finland’s Amer Sports is close to signing a $4.6 billion euro ($5.2 billion) deal to be taken over by a consortium led by China’s Anta Sports, said a person with direct knowledge of the transaction.
** Financial news provider TheStreet Inc said it will sell its B2B business units, The Deal and BoardEx, to London-based Euromoney Institutional Investor Plc for $87.3 million, as it explores wider options for the company.
** Hopewell Holdings Ltd said a consortium led by its chairman offered to take the Hong Kong-based property and infrastructure group private for HK$21.26 billion ($2.7 billion), sending its stock surging as much as 32 percent.
** Brazilian miner Vale SA, the world’s top nickel producer, is acquiring the control of Ferrous Resources Ltd., its controlling shareholder Icahn Enterprises LP said in a securities filing.
** A Washington state regulator rejected Canadian electric utility Hydro One Ltd’s proposed acquisition of rival Avista Corp, saying the deal would not adequately protect Avista or its customers from political and financial risk.
** Brazilian antitrust watchdog Cade will begin an investigation that may result in mandatory sales of refineries by state-controlled oil company Petroleo Brasileiro SA , Cade said in a statement.