March 26, 2019 / 10:13 AM / 4 months ago

Deals of the day-Mergers and acquisitions

March 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Global ride-hailing firm Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering.

** Ailing British department store group Debenhams said it would give "due consideration" to any offer for the company from major shareholder Sports Direct but warned an offer would not address its immediate funding needs.

** Australia's Wesfarmers Ltd made a surprise $1.1 billion offer for rare earths miner Lynas Corp Ltd, looking for new growth after a series of asset sales, but its shares fell as investors fretted about increased risk.

** Reliance Industries Ltd said its unit Reliance Retail Ltd (RRL) has acquired consumer goods company ITC Ltd's menswear brand John Players.

** Several investors are considering an offer for British medical device maker Convatec after the recent slump in its stock, Swedish business daily Dagens Industri said.

Compiled by Bharath Manjesh in Bengaluru

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