(Adds Nokia, Goldcorp, Larsen & Toubro, Pinnacle Entertainment)
April 21 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
** 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)