January 16, 2020 / 11:35 AM / a month ago

Deals of the day-Mergers and acquisitions

(Updates Far Point Acquisition; Adds Altran, Kirkland Lake Gold, RAG Stiftung, Erste Group, E.ON, Condor, DuPont)

Jan 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** Industrial materials maker DuPont is working with advisers to review strategic options, including a sale, for its electronics business, Bloomberg reported, citing people familiar with the matter.

** Condor, the airline that used to belong to Thomas Cook, has attracted interest from buyout groups Apollo and Greybull as well as Polish carrier LOT, which are expected to submit final bids next week, a person close to the matter said.

** German energy firm E.ON said it would offer a total of about 2.38 billion euros ($2.65 billion) to buy out minority shareholders of Innogy.

** Austria's Erste Group has decided not to submit a nonbinding offer for Commerzbank's Polish unit mBank , a spokeswoman for the lender said.

** U.S. activist fund Elliott will not tender its Altran shares to French consulting and IT services provider Capgemini's recently increased offer for the company, it said.

** U.S.-based real estate group Hines has acquired the landmark Velasca Tower in the centre of Milan from Italian insurer Unipol and plans to transform the building into a luxury office-led complex, the company said.

** Kirkland Lake Gold Ltd's C$4.4 billion ($3.4 billion) all-stock offer to buy rival Detour Gold Corp has won backing from two influential proxy advisory firms on grounds the target's shareholders would reap benefits from a larger company, bolstering chances of the deal going ahead.

** The RAG Stiftung will likely pay less than 1 billion euros ($1.1 billion) as part of a consortium it has joined to bid for the elevator division of Thyssenkrupp, two people familiar with the matter said.

** A group of U.S. states suing to block T-Mobile US Inc from merging with Sprint Corp told a federal judge the deal would raise prices for consumers, while the phone companies pushed back and emphasized they would compete aggressively to push prices down.

** Takeover target Caltex Australia has signed a confidentiality agreement with Alimentation Couche-Tard that gives the Canadian firm access to select non-public information in the hope that it will raise its offer.

** Brazil's state-run oil company Petroleo Brasileiro said it had put up for sale its entire stake in the Golfinho and Camarupim deepwater clusters in the Espírito Santo basin.

** XPO Logistics Inc said it was considering the sale or spin-off of one or more business units, sending shares of the warehousing and last-mile delivery provider up more than 16% in extended trading.

** Chinese automaker Guangzhou Automobile Group Co Ltd said it was in early talks with Tesla challenger Nio Inc about a financing proposal, but any potential investment would not exceed $150 million.

** Hong Kong-based labelling firm SML Group is seeking a buyer in a deal that could fetch more than $500 million, three people with knowledge of the plans told Reuters.

** Far Point Acquisition Corp, a blank-check company set up by hedge fund Third Point LLC and ex-New York Stock Exchange President Thomas Farley, said it had agreed to acquire shopping tax refund firm Global Blue in a $2.6 billion deal.

** Food delivery group Delivery Hero raised almost 2.3 billion euros ($2.56 billion) over night from the sale of convertible bonds and new shares to help fund its $4 billion takeover of South Korea's food delivery app owner Woowa Brothers.

** German chemicals and plastics maker Covestro's chief executive said it was still hard to carry out takeover deals that create value amid stubbornly high asset prices.

Compiled by Amal S and Shanti S Nair in Bengaluru

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