Deals of the day -- mergers and acquisitions

Mon Jul 29, 2013 4:00pm EDT

July 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** U.S. drugmaker Perrigo agreed to buy Elan for $8.6 billion on Monday in a deal that will hand it tax savings from being domiciled in Ireland and royalties from a blockbuster multiple sclerosis treatment.

** Dutch telecom group KPN's biggest shareholder America Movil has ended an agreement to keep its holding below 30 percent, a sign it may bid for the whole company.

Mexican billionaire Carlos Slim's company, which owns 29.8 percent of KPN, was entitled to end the agreement after Spain's Telefonica bid 8.1 billion euros ($10.7 billion) for KPN's German mobile arm E-Plus, KPN said.

** PPG Industries Inc has agreed to sell its $1.73 billion controlling stake in Transitions Optical, the inventor of modern variable-tint plastic lenses, to business partner Essilor International, PPG said.

Essilor does not expect any major antitrust issues arising from its purchase of PPG Industries' controlling stake in their Transitions Optical joint venture, its chief operating officer said.

** AMR Corp's American Airlines and US Airways will win EU approval for their $11 billion merger to become the world's largest carrier after agreeing to cede slots on a transatlantic route, three persons familiar with the matter said.

** Millennium BCP's restructuring plan agreed with the European Commission includes a condition on its profitable Polish unit, the Portuguese bank's CEO said on Monday, adding however that it remains a core operation for the group.

BCP, Portugal's largest listed bank by assets, last year drew 3 billion euros ($3.98 billion)in convertible bonds from a recapitalisation line from the country's 78 billion euro ($103.38 billion) EU/IMF bailout and in exchange has to implement a restructuring plan which may include asset sales.

** Mining major Rio Tinto Ltd has agreed to sell its majority stake in the Northparkes copper mine in Australia for $820 million to China Molybdenum Co Ltd, a Chinese firm making its first foray offshore and into copper.

** A proposed mega-merger between global ad agencies Publicis Groupe and Omnicom Group could bring rival accounts such as Coca-Cola and PepsiCo under one firm, underscoring the scale of the $35.1 billion deal and the potential conflicts it raises.

** OCI NV, the Dutch-listed parent of Egypt's Orascom Construction Industries, said it would own more than 97 percent of its subsidiary's shares by the close of a buyout offer, paving the way for the delisting of the Egyptian bourse's biggest firm.

** JPMorgan Chase & Co is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street's role in the trading of raw materials comes under unprecedented political and regulatory pressure.

** UBS has sold 4.8 percent of Australian-listed toll road operator and owner Transurban Group worth A$477.3 million ($440.71 million), a person familiar with the matter told Reuters.

** Emerging markets private equity firm Abraaj Group said it has agreed to sell its 50 percent stake in Acibadem Sigorta to Malaysia's state-run investment fund Khazanah Nasional Bhd .

** Russia's Gazprom has paid $1 to take over Kyrgyzstan's natural gas network and pledged to invest billions of roubles to upgrade its gas infrastructure and ensure stable supply, Russian and Kyrgyz government officials said.

** Metro Pacific Investments Corp is not keen to buy any more shares in Manila Electric Co (Meralco) because additional purchases may trigger a tender offer, its chairman said.

The conglomerate and its sister firm Philippine Long Distance Telephone Co currently hold a nearly 50 percent stake in Meralco after purchasing more shares earlier this month.

** Russia's Eurochem said it plans to set up a joint venture with Chinese fertilizer maker Migao Corp to expand its presence in the region.

** Etisalat, the Gulf's biggest telecommunications operator, said that its affiliate Pakistan Telecommunication Co Ltd had expressed interest in mobile operator Warid Telecom. Warid, Pakistan's smallest operator, has been put on the block by its Abu Dhabi owners in a sale likely to fetch up to $1 billion, Reuters reported last month.

** Richard Baker is doubling down on his attempt to revive big-name department stores with a $2.4 billion bid to buy Saks Inc, bringing the iconic New York retailer under the same roof as Lord & Taylor and Canada's Hudson's Bay.

** German specialty chemicals group Altana said on Sunday it had agreed to buy the global rheology business of U.S. chemicals maker Rockwood Holdings Inc for $635 million to expand its additives portfolio.

** Tokio Marine Holdings Inc is seeking acquisitions in the United States and Mexico to spread out its risk, said the chief executive of Japan's largest property-casualty insurer by market value, as rivals go after growth closer to home in Southeast Asia.

** Chinese investment firm Hang Lung Group denied it was in talks to buy a stake in Israeli insurance company Clal Insurance from holding company IDB Development Corp , saying it was not interested in buying businesses outside of Hong Kong and China.

** Singapore sovereign wealth fund GIC and Japanese conglomerate Mitsubishi are considering making a bid for European nuclear fuel maker Urenco, Britain's Sunday Times reported, without citing sources.

** Publisher Axel Springer has sold a set of French magazines after disposing of some of Germany's best-known titles earlier this week, magazine New Business reported on Saturday, citing a company spokesman.

** Air France-KLM is in talks with German turnaround specialist Intro Aviation to sell its CityJet regional airline, a partner of the German company said.

** U.S. cable group Liberty Global has increased its stake in Dutch cable operator Ziggo to 28.5 percent, the Dutch company said on Saturday.

** Digital entertainment publisher Activision Blizzard Inc's chief executive, who is shelling out $50 million of his own money in an $8.2 billion deal to buy back most of Vivendi's stake, said the world's largest video game publisher would be freer to pursue acquisitions and grow after emerging from its French parent's wing.

** Canada's Valeant Pharmaceuticals International Inc said it would cut 10 to 15 percent jobs after buying contact lens maker Bausch & Lomb. The company also said that cost savings might rise from initial estimates at the time of the deal.

** Malaysia's state-run investment fund will buy a 90 percent stake in Turkish health insurer Acibadem Sigorta for $252 million, ending a race between global firms. This underscores appetite among international investors for the fast-growing sector.

** Sinclair Broadcast Group Inc said it would buy eight television stations from companies owned by the Allbritton family for about $985 million,the latest deal in a flurry of activity to buy local broadcasters.

** Telecoms group Vimpelcom has agreed to sell two of its sub-Saharan assets for about $100 million and is bidding for Pakistan's mobile operator Warid Telecom, said two banking sources familiar with the matter.

** India's foreign investment regulator gave conditional approval to a $379-million deal by Abu Dhabi's Etihad Airways to buy a stake in Jet Airways (India) Ltd, paving the way for more acquisitions in India's domestic aviation sector.

** Volkswagen and Suzuki Motor Corp have resumed talks about how to resolve a dispute about a partnership deal, two sources familiar with the matter said.

Both car makers had attempted to form an alliance two years ago but talks stalled over disagreements.

Both car makers now see potential from continued cooperation, but whether the dispute can be fully resolved remains to be seen, the person further said.

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