March 10 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Monday:
** Bidders have started submitting binding offers for DEA
, the oil and gas production unit of German utility
RWE AG, and a deal could be struck as early as this
month, three people familiar with the matter told Reuters.
No financial details of the binding bids emerged, but one of
the sources said the range was expected to be similar to what
was offered in the first round, when bids ranged between 3.5
billion and 5 billion euros ($4.9-6.9 billion).
** German drink and food flavors maker Wild is putting
itself up for sale in a deal that could value the company at 1.5
billion euros, three people familiar with the matter
** Minerals Technologies Inc said it would buy Amcol
International Corp, which produces a type of clay used
in everything from cosmetics to oil drilling, for about $1.7
billion as Imerys SA bowed out of a month-long bidding
** The private equity arm of Dubai Holding has asked buyout
groups to submit binding bids for its German packaging group
Mauser, after putting on hold a larger auction which comprised
two additional assets, three sources familiar with the
transaction told Reuters. The suitors are likely to value Mauser
at about 7 times its expected operating earnings of roughly 150
million euros, or 1.1 billion euros.
** GlaxoSmithKline said it paid 64 billion
rupees ($1.05 billion) to increase its stake in its Indian
pharmaceuticals unit to 75 percent, as it banks on rising demand
for medicines in emerging markets.
** U.S. fruit firm Chiquita Brands International Inc
and Irish rival Fyffes Plc, Europe's largest
distributor, have struck an all-stock merger deal to create the
world's biggest banana supplier.
** Classified Ventures LLC, a joint venture of five media
companies, has put its online listings business, Cars.com, up
for sale at a price of up to $3 billion, The Wall Street Journal
reported on Sunday, citing people familiar with the plans.
** Wesfarmers Ltd, one of Australia's largest
retailers, plans to sell its insurance broking business via an
initial public offering worth around A$1.12 billion ($1.02
billion), the Weekend Australian newspaper reported on Saturday.
** French food ingredient maker Diana Group has attracted
bids worth more than 1.2 billion euros, including debt, from
Germany's Symrise and Japan's Ajinomoto,
sources familiar with the matter said.
** France's Bouygues Telecom has agreed to sell
its mobile network and much of its spectrum to smaller rival
Iliad as a way to head off competition regulators'
concerns about its pending bid for Vivendi's SFR. If
Vivendi picks Bouygues' bid for SFR over a rival offer - and if
regulators approve the merger - then Bouygues will sell 15,000
mobile antennas and some of its mobile spectrum to Iliad for up
to 1.8 billion euros, according to statements from both
companies on Sunday.
** The war of words between Cliffs Natural Resources Inc
and Casablanca Capital escalated on Friday, after the
activist investor rejected an offer to end a proxy battle to win
control of the iron ore miner's board. Casablanca, Cliffs'
fifth-largest shareholder with a 5.2 percent stake, wants Chief
Executive Gary Halverson gone, and the company to spin off its
"riskier" international operations from cash-generating U.S.
** NII Holdings Inc, which provides telecom
services under the Nextel brand in Latin America, said it hired
financial firms for advise on a potential sale of the company
and on ways to deal with its $5.79 billion debt load.
** Chemical manufacturer FMC Corp said it would
split into two companies, one comprising its minerals business
and the other its agricultural solutions, health and nutrition
** German builder Hochtief AG plans to spend over
$1 billion to lift its majority stake in Australia's Leighton
Holdings Ltd, seeking to push through restructuring at
a business that already delivers most of Hochtief's profit.
** French electrical gear maker Schneider Electric
confirmed it was in talks with potential buyers for its sensors
unit CST, following a newspaper report saying it could reap up
to $900 million from a deal.
** United Rentals Inc, the world's largest equipment
rental company, said on Sunday it had agreed to acquire
privately held National Pump, the second-largest specialty pump
rental company in North America, for $780 million.
** Private equity firm Warburg Pincus is looking to sell
education software maker iParadigms and has tapped Evercore
Partners Inc to assist with the effort, people familiar
with the matter said. The company is estimated to earn around
$50 million before interest, tax, depreciation and amortization
and may fetch 15 times that amount, or roughly $750 million,
some of the people said.
** Private equity giant TPG plans to sell 56 farm
properties of Australia's largest poultry firm, Ingham
Enterprises, for up to A$650 million, a property agent
responsible for the sale told Reuters.
** Chipmaker Montage Technology Group said it
received a buyout offer valuing it at about $600 million from a
Chinese state-owned company.
** Companies controlled by Norwegian billionaire investor
John Fredriksen will sell six dry bulk ships to Knightsbridge
Tankers in return for a 38 percent stake in the company and some
cash, the firms said in a joint statement.
Of the total consideration of $360 million for the dry bulk
ships, $186 million will be paid in shares of Knightsbridge at
$10 per share, $150 million in absorption of remaining
newbuilding capex and $24 million in cash, the firms
** Clean energy fund Trading Emissions plc (TEP)
said it had reached an agreement to sell its portfolio of United
Nations-backed carbon credits to an unidentified buyer, taking
another step forward in winding up its business.
** Chinese diversified energy company Landbridge Group Co
Ltd has launched an A$160 million unsolicited bid for Queensland
coal seam gas company WestSide Corp Ltd, to gain entry
into northern Australia's fast-growing gas industry.
** China's largest Internet company Tencent Holdings Ltd
may soon announce a deal to take about a 16 percent
stake in online retailer JD.com and merge their online shopping
platforms, local media reported on Saturday.
** Aircraft parts and auto components maker Senior Plc
said it acquired Malaysia-based UPECA Technologies, a
high-precision components maker, for $75.5 million including
debt to expand in the South East Asian region.
** Hungary's government agreed to sell its majority stake in
savings bank Takarekbank to a local investment firm for 9
billion forints ($39.9 million).
** An online education company backed by Alibaba Group
Holding Ltd said a unit of Softbank Corp
had made a strategic investment in the company for an
** Unilever PLC has bought a majority
stake in water purification company Qinyuan, its biggest Chinese
acquisition in 10 years, the consumer goods company said on
Sunday without disclosing what it paid.
** The top investor in Italy's No.3 bank by asset, Monte dei
Paschi di Siena, has sold shares worth 40.6 million
euros on the market, equivalent to 1.6 percent of the bank's
market capitalization, regulatory filings showed.
** South African logistics company Super Group has
bought a majority stake in Chinese-backed Great Wall Motors SA,
the companies said.