Deals of the day-Mergers and acquisitions August 20, 2018
August, 20th 2018
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday:
** PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO Elon Musk has said could help him fund a $72 billion deal to take his electric car maker private, is in talks to invest in aspiring Tesla rival Lucid Motors Inc, people familiar with the matter said.
** PepsiCo will buy household drink-machine maker SodaStream for $3.2 billion as it battles chief rival Coca-Cola for an edge in the health-conscious beverage market.
** The Southeast Asian offshore natural gas assets of U.S. oil and gas producer Hess Corp, estimated to be worth as much as $5 billion, have attracted takeover interest from firms including Thailand’s PTTEP PCL and Austrian energy group OMV AG, people familiar with the matter said.
** Australian retirement village owner Gateway Lifestyle recommended shareholders accept Hometown America’s A$695 million ($508.5 million) takeover offer, after a pursuit involving a rival suitor.
** Australia’s Eclipx Group, a vehicle fleet management service provider, rejected an A$806.6 million ($590.1 million) cash and stock takeover offer from peer SG Fleet Group Ltd, describing the offer as “inadequate”.
** China Resources Power said it would transfer its equity in a coal subsidiary and three of the coal companies under the subsidiary to an asset management platform company of state-owned enterprises for 1 yuan.
** Israel’s anti-trust regulator on Sunday approved defence contractor Elbit Systems’ planned acquisition of state-owned rival IMI Systems.
** Mexican conglomerate Grupo Industrial Saltillo SAB de CV is considering more acquisitions in Europe to expand its auto parts division, its top executive told Reuters. (Compiled by Karan Nagarkatti in Bengaluru)