4 Min Read
(Adds Nokia, Goldcorp, Larsen & Toubro, Pinnacle Entertainment)
April 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:
** Nokia said on Monday that it expected the sale of its handset business to Microsoft to be finalized on April 25, as it had received all the required regulatory approvals. The closure of the 5.4 billion euro ($7.5 billion) deal, which was agreed in September, had been delayed due to pending approvals, but earlier this month the companies won a crucial nod from Chinese regulators.
** Goldcorp Inc said on Monday that it was walking away from its hostile bid to buy Osisko Mining Corp, clearing the way for Yamana Gold Inc and Agnico Eagle Mines Ltd to take control of Osisko's flagship Canadian Malartic mine. The white-knight bid, which the companies valued at C$3.9 billion ($3.5 billion) when it was announced last week, would see Yamana and Agnico take joint control of most Osisko assets, and spin out some exploration properties into a new entity.
** The talks between Barrick Gold Corp and Newmont Mining Corp over a combination that would create a gold mining behemoth have hit a snag, but two sources close to the situation say the companies remain keen on a deal and discussions are likely to resume.
** Pfizer may come back to bid for British drug company AstraZeneca after its reported 60 billion pound ($100.85 billion) takeover approach was rejected, since a deal could make sense for the U.S. pharmaceuticals giant as it seeks to build up its cancer franchise.
** India's Hero Motor Corp Ltd, the maker of the Hero motorcycle, signed an agreement with Bangladesh automobile company Nitol Niloy Group to open a new manufacturing plant in Bangladesh in its first overseas joint venture. Hero will invest $40 million in the new plant.
** China's online game developer Perfect World Co Ltd said it joined the consortium offering to buy rival Shanda Games Ltd. Perfect World said it would buy 30.3 million class A Shanda Games shares for $100 million from Shanda Interactive Entertainment Ltd, a shareholder in and part of the consortium to buy Shanda Games.
** Chinese drugmaker Shanghai Fosun Pharmaceutical Group Co Ltd has raised its offer for U.S.-listed Chindex International Inc by 15 percent to $223.6 million, topping an offer from an unidentified bidder for the China-focused hospital chain.
** Vietnam's Maritime Bank said on Monday that it planned to merge with Mekong Development Bank to boost the pair's financial strength and increase competitiveness.
** Square Inc has been in talks with several rivals for a possible sale as the mobile payments startup looks to stem widening losses and dwindling cash, the Wall Street Journal reported, citing people familiar with the matter.
** India's Larsen & Toubro Ltd said on Monday that its unit had called off talks with Future Generali Insurance, a joint venture between local retail chain operator Future Group and Italy's Generali, to merge their businesses. After the deal, L&T was expected to hold a 51 percent stake in the joint venture, with Generali holding 26 percent and the rest with Future Group.
** Pinnacle Entertainment Inc shareholder Orange Capital LLC said it had asked the casino operator to consider spinning off its real estate into a separately traded real estate investment trust. New York-based Orange Capital, which raised its stake in the company to 4.5 percent, as of April 10, said it was in talks with the company regarding opportunities to maximize shareholder value. ($1 = 0.59 British pounds) (Compiled by Shubhankar Chakravorty and Avik Das in Bangalore)