Deals of the day-Mergers and acquisitions June 11, 2019
June, 11th 2019
The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Tuesday:
** Book distribution company Readerlink LLC is working towards making a bid for Barnes & Nobles Inc that would top hedge fund Elliott Management Corp’s agreed price to buy the U.S bookseller, the Wall Street Journal reported, citing a source.
** Private equity firm Apollo Global Management LLC said it had agreed to acquire U.S. digital imaging company Shutterfly Inc for $2.7 billion, including the company’s $900 million debt.
** Hudson’s Bay Co Executive Chairman Richard Baker said he had teamed up with other shareholders to offer to take the struggling Canadian department store operator private in a C$1.74 billion ($1.3 billion) cash deal.
** AGL Energy Ltd took a second tilt at telecoms firm Vocus Group Ltd with a fresh A$3.02 billion ($2.10 billion) offer - just weeks after withdrawing a previous approach - as it looks to cross-sell to its big customer base.
** Plans to merge carmakers Renault and Fiat Chrysler could re-emerge despite the breakdown of negotiations last week, France’s transport minister said, joining a chorus of French officials hoping the deal could be revived.
** British caterer Compass Group has agreed to buy Nordic rival Fazer Food Services for around 475 million euros ($538 million), the two companies said, giving it a stronger foothold in Scandinavia. (Compiled by Aakash Jagadeesh Babu in Bengaluru)