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Deals of the day-Mergers and acquisitions
2017年9月12日 / 上午9点57分 / 14 天前

Deals of the day-Mergers and acquisitions

(Updates Sky; Adds DowDuPont, Altice, Thyssenkrupp, Home Capital, Goldman Sachs, AT&T, Bayer, Air Berlin, Wal-Mart)

Sept 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** DowDuPont, formed through the merger of chemical giants Dow Chemical and DuPont, is shifting some operations in the three units it plans to create, potentially averting a prolonged fight with activist investors over its post-merger plans.

** Wal-Mart Stores Inc is restructuring its U.S. store operations and will consolidate its business divisions from six to four, the company said on Tuesday.

** Bell Pottinger’s British arm collapsed on Tuesday after the global public relations agency’s clients deserted it over a racially-charged political campaign it ran in South Africa.

** Home Capital’s shareholders on Tuesday rejected a proposal for Warren Buffett’s Berkshire Hathaway to raise its stake in the company, voting against the board’s recommendation in a third defeat for the U.S. billionaire this year.

** German drugs and pesticides group Bayer is selling 1.2 billion euros ($1.4 billion) worth of Covestro shares under its plan to fully sever ties with the plastics business over the medium-term.

** AT&T Inc, which is buying Time Warner Inc, said it plans to reinvest more advertising revenue into content as it goes head-to-head with online streaming services such as Netflix Inc.

** Labour leaders at Thyssenkrupp are willing to talk to management about an overhaul of the group’s European steel operations, they said on Tuesday, but warned they remained opposed to a merger with Tata Steel.

** Insolvent Air Berlin cancelled about 100 flights on Tuesday after pilots called in sick in unusually high numbers, potentially hampering an attempt to find investors to rescue Germany’s second-largest airline.

** Netherlands-based telecom conglomerate Altice NV and its U.S. cable unit said it is open to mergers and acquisitions, specifically in the cable business.

** Goldman Sachs Group Inc on Tuesday unveiled a growth plan that could add as much as $5 billion in revenue annually, as the bank seeks to reassure investors after two poor trading quarters in a row.

** Bunge Ltd said it would buy a 70 percent stake in IOI Loders Croklaan from Malaysian palm oil producer IOI Corp Berhad for $946 million, as a plan to invest in higher-margin businesses such as food ingredients and natural flavorings.

** Rupert Murdoch’s planned $15 billion takeover of European broadcaster Sky SKYB.L was thrown into doubt on Tuesday when Britain toughened its stance on the deal over concerns about standards at his U.S. Fox News network.

** Glencore’s move last week to sell most of its stake in Russian oil major Rosneft to Chinese conglomerate CEFC is eliciting admiration from the Swiss oil trader’s rivals -- and relief from its bankers.

** Vietnam’s technology firm FPT Corp said it would sell 47 percent of its trading unit to Synnex Technology International Corp in 2017.

** Taiwan’s top financial regulator Wellington Koo said corporate governance is his top policy priority and that he will build a “friendly environment” for mergers between private banks.

** Indonesian conglomerate Rajawali Group said it had sold a 21 percent stake in infrastructure developer PT Nusantara Infrastructure Tbk to PT Matahari Kapital Indonesia for 864 billion rupiah ($65.5 million)

** France’s Credit Agricole has agreed to sell about half its 31.1 percent stake in Banque Saudi Fransi (BSF) to billionaire Prince Alwaleed Bin Talal’s Kingdom Holding for 5.76 billion riyals ($1.54 billion).

** Britain’s competition regulator said it accepted proposals by Amec Foster Wheeler Plc to sell almost all of its upstream offshore oil and gas servicing assets relating to its deal with John Wood Group.

** British insurer Hastings said preliminary talks earlier this year to explore a possible merger with roadside recovery and motor insurance company AA’s insurance business had ended.

** Toshiba Corp now favours a group led by Bain Capital LP and SK Hynix Inc to buy its prized semiconductor business, as it failed to bridge key gaps with its business partner and rival bidder Western Digital Corp, two people briefed on the matter said.

** South African drugmaker Adcock Ingram will buy contact lenses, surgical and skincare products supplier Genop Holdings, it said, a deal that gives it a company with 400 million rand ($31 million) in annual sales.

** Canada’s competition watchdog said on Monday it will not challenge a proposed merger between Agrium Inc and Potash Corp, saying the transaction was unlikely to substantially lessen competition in the fertilizer industry.

** Louis Dreyfus Co is not looking to sell its Brazilian juice operations, but it is open to partnerships in the area, including possible tie-ups with local bottlers, Murilo Parada, chief executive for the Brazil unit, told Reuters.

** Teva Pharmaceutical Industries agreed to sell its contraceptive brand Paragard to a unit of Cooper Cos for $1.1 billion, on a day the struggling Israeli drugmaker named industry veteran Kare Schultz as CEO.

** Shin Dong-joo, the elder son of Lotte Group’s founder, has decided to sell most of his stakes in Lotte Shopping and three other units of South Korea’s No.5 conglomerate, his company said without providing the value of the sale. (Compiled by Laharee Chatterjee and Arjun Panchadar in Bengaluru)

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