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Deals of the day-Mergers and acquisitions Nov 6, 2017
November, 07th 2017

The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Monday:

** Marvell Technology Group Ltd is in advanced talks to buy Cavium Inc - a deal that would create a chipmaker worth about $14 billion, the Wall Street Journal reported on Friday.

** Communications chipmaker Broadcom Ltd is planning to unveil a bid for smartphone chip supplier Qualcomm Inc by Monday, three sources familiar with the matter said on Friday, an attempt to create a roughly $200-billion company through the biggest technology acquisition ever.

** Kuwait's Petrochemical Industries Co (PIC) has signed a contract with U.S. firm Jacobs Engineering to carry out engineering and design work for a planned polypropylene plant it co-owns in Canada, Kuwait's state news agency reported on Saturday.

** Sprint Corp and T-Mobile US Inc said on Saturday they have called off merger talks to create a stronger U.S. wireless company to rival market leaders, leaving No. 4 provider Sprint to engineer a turnaround on its own.

** State-owned Israel Aerospace Industries (IAI) said on Sunday it signed a deal with the FIMI private equity fund to invest in IAI's subsidiary ImageSat.

** India's antitrust regulator has approved Singapore's sovereign wealth fund GIC's bid to acquire a stake in a firm owned by DLF for 89 billion rupees ($1.38 billion), the country's biggest real estate developer said in a statement late Saturday.

** Altice USA, the fourth-largest U.S. cable operator, said on Sunday it would introduce mobile service on Sprint Corp's network, becoming the latest in its industry to plan to enter the wireless market in an effort to retain customers.

** Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG as it overhauls its activities following a series of major overseas acquisitions.

** South African lender FirstRand has agreed a 1.1 billion pound ($1.3 billion) takeover of British banking newcomer Aldermore Group to boost its business in developed markets.

** Japanese oil explorer Inpex has sold Murban and Das crude cargoes for loading in January and February at premiums of 25 cents to 30 cents a barrel above the grades' respective official selling prices (OSP), two trade sources said.

** Air China, said it viewed Qatar Airways' acquisition of a 9.61 percent stake in Cathay Pacific Airways Ltd "positively" and that it hoped the shareholders could work together to find synergies. (Compiled by Diptendu Lahiri in Bengaluru)

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