Deals of the day-Mergers and acquisitions March 12, 2018
March, 13th 2018
The following bids, mergers, acquisitions and disposals were reported by 2200 GMT on Monday:
** The U.S. Treasury Department has told Singapore-based Broadcom Ltd that it has confirmed national security concerns about the chipmaker’s unsolicited bid to buy rival Qualcomm Inc and accused it of violating an order to give sufficient notice of plans to move to the United States.
** Melrose Industries increased its hostile offer for GKN by around 10 percent to 8.1 billion pounds ($11.2 billion), trying to win over investors after the British engineering firm struck a rival deal of its own last week.
** Apple Inc will buy digital magazine service Texture, which lets users read titles for a monthly subscription fee, the iPhone maker said.
** France’s Natixis said it had agreed to buy stakes in three independent boutique advisory firms - Fenchurch Advisory Partners LLP, Vermilion Partners and Clipperton - as it seeks to diversify its investment banking activities.
** Ukrainian agribusiness group MHP said it is in talks to acquire loss-making French poultry firm Doux, which is looking for partners after previous buyouts failed to revive the export specialist.
** German real estate company Vonovia said its takeover offer for Austrian peer Buwog was a success after Buwog shareholders tendered 73.7 percent of shares in the group.
** Chinese conglomerate HNA Group is in talks to sell some or all of its 25 percent stake in Hilton Grand Vacations Inc , the timeshare business spun off last year from Hilton Worldwide Holdings, the Wall Street Journal reported.
** Microchip maker Intel Corp responded to a news report that it is considering a possible bid for Broadcom Ltd by saying that it is focused on integrating previous acquisitions, raising doubt over the idea.
** The infrastructure fund of British asset manager M&G Investment Management Ltd said on Friday it had offered to buy rural broadband provider Gigaclear Plc in a deal valued at about 270 million pounds ($374 million).
** Private equity firm EIG Global Energy Partners LLC has bought out Brazilian logistics company Prumo Logistica SA , after 18 months of negotiations with its minority shareholders, Prumo said on Friday.
** Chile’s government has asked antitrust regulators to block the sale of a stake in lithium company SQM to a Chinese company on the grounds it would give China an unfair advantage in the global race to secure resources to develop electric vehicles, according to a document seen by Reuters.
** RWE and E.ON’s surprise carve up of Germany’s Innogy could complicate a merger of SSE and Innogy-owned npower to create Britain’s second largest energy supplier, although both firms said it remained on track.
** A consortium of Jet Airways (India) Ltd, Air France-KLM SA and Delta Air Lines Inc is looking to bid for state-run carrier Air India Ltd, the Mint newspaper reported citing the Press Trust of India.
** Warburg Pincus said it had agreed to invest more than $370 million in Vietnam Technological and Commercial Joint Stock Bank (Techcombank), in what it said was the largest ever private equity investment to date in the Southeast Asian nation.
** India’s Eicher Motors Ltd said it is shutting down its joint venture with U.S.-based Polaris Industries Inc immediately, as sales failed to meet expectations after the initial success.
** A group led by U.S.-Israeli businessman Naty Saidoff has pulled its offer to buy Eurocom, parent company of Bezeq Israel Telecom, Saidoff’s spokesman said.
** Spain’s market regulator cleared Hochtief’s takeover bid for toll road company Abertis, starting a one month period in which Hochtief and rival bidder Atlantia can improve their proposals.
** Laser and optical fibre specialist Lumentum Holdings Inc , seen by analysts as a parts supplier for Apple’s Face ID technology, will buy optical components producer Oclaro Inc for about $1.7 billion in cash and stock.
** Cleaning product maker Clorox Co said it will buy Nutranext, which makes multi vitamins and owns brands such as Rainbow Light and Natural Vitality, for $700 million, as it continues to expand its dietary supplements business.
** Warburg Pincus is investing more than $370 million in Vietnam Technological and Commercial Joint Stock Bank (Techcombank) IPO-VTC.HM, in what it said was the largest ever private equity investment to date in the Southeast Asian nation.
** Wood pulp producer Paper Excellence has made a formal bid to acquire Brazil’s Fibria Celulose SA after barging into the company’s tie-up talks with another rival, three people with direct knowledge of the matter said.
** India’s Tata Sons is set to sell on Tuesday a roughly 1.5 percent stake in its flagship Tata Consultancy Services for about $1.25 billion. (Compiled by Diptendu Lahiri & Akshara P in Bengaluru)