Deals of the day-Mergers and acquisitions March 28, 2018
March, 28th 2018
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:
** Takeda Pharmaceutical Co Ltd, Japan’s largest drugmaker by sales, said it was considering a possible offer for Britain’s Shire, sending shares in the pharmaceuticals company sharply higher.
** Global miner Rio Tinto, sold its remaining coal mine in Australia for $2.25 billion, making good on a pledge to exit the fuel and boosting its ability to fund future buybacks or higher dividends.
** South Korea’s auto parts maker Hyundai Mobis Co Ltd said it will spin off its module and after-service parts businesses and merge them with affiliate Hyundai Glovis .
** Food giants Nestle, Kraft Heinz and Unilever are expected to bid for GlaxoSmithKline’s Horlicks health nutrition business, which could fetch more than $4 billion, according to people familiar with the matter.
** British turnaround specialist Melrose said it would not embark on a reorganisation of British engineering company GKN if its hostile bid succeeds, part of an agreement with the UK takeover watchdog.
** Europe’s largest tourism group TUI has expanded its business offering excursions and activities to holidaymakers by buying part of Spanish hotel room specialist Hotelbeds Group, aiming to take advantage of a growing market.
** U.S. chipmaker NXP Semiconductors NV, the target of a $44 billion takeover by Qualcomm Inc that is awaiting approval by Chinese anti-monopoly regulators, has sold its stake in a Chinese chip-design joint venture.
** Oil and gas producer Concho Resources Inc said on Wednesday it would buy smaller rival RSP Permian Inc for an equity value of about $8 billion.
** India’s Manipal Hospitals Enterprises Private Ltd plans to buy troubled Fortis Healthcare Ltd’s hospital business, but the deal is expected to run into opposition from Fortis minority shareholders.