September 25, 2013 / 10:04 AM / 4 years ago

Deals of the day- mergers and acquisitions

Sept 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Medical device maker Stryker Corp will buy smaller peer Mako Surgical Corp for about $1.65 billion to gain access to Mako’s technology for robot-assisted orthopedic surgery. Mako shares jumped 83 percent at $29.57 in morning trade, just shy of the offer price Of $30 per share.

** American Express Co, squeezed by tighter corporate travel budgets, said it was in talks to sell half of its business travel division for up to $1 billion to an investor group led by Certares International Bank LLC.

** T-Mobile US Inc Chief Financial Officer Braxton Carter said on Wednesday that he expected more consolidation in the U.S. wireless market and made a case for a deal between his company and bigger rival Sprint Corp.

** Telefonica Brasil SA’s control of smaller rival TIM Participações SA could concentrate too much pricing and market power in one player and “is not welcome,” Marcelo Bechara, a board member at Brazilian telecommunications industry regulator Anatel, said. Spain’s Telefonica SA - Telefonica Brasil’s parent company, - agreed to boost its stake in Telecom Italia SpA in a $1.2 billion deal, in a plan that may lead to the sale of TIM, Telecom Italia’s mobile phone carrier in Brazil.

** Global private equity firm TPG Capital has agreed to sell its China leasing business UT Capital Group Co Ltd to Haitong International Holdings, a unit of Haitong Securities Co Ltd , for $715 million, the two companies said in separate statements.

** Russian billionaire Mikhail Prokhorov’s investment group Onexim has joined a list potential bidders for a stake in potash producer Uralkaliy OAO, as the search continues for a peacemaker to end a row that has soured relations with Belarus.

** Italy’s state lender Cassa Depositi e Prestiti is expected to present an offer to buy a stake in Finmeccanica SpA’s power engineering unit Ansaldo Energia in the coming days, two sources with knowledge of the situation said.

** The United Auto Workers’ trust fund has tapped Deutsche Bank AG for advice on how to exit its 41.5 percent stake in U.S. automaker Chrysler Group LLC, according to two people familiar with the matter. The third-largest U.S. automaker on Monday was forced to file paperwork for an IPO by the union trust, its second-biggest shareholder mired in an escalating spat with main owner Fiat SpA.

** Cable equipment maker HellermannTyton Group PLC’s private equity owner is to sell 20 percent of the company in a share placing, one of the bookrunners said in a statement. Doughty Hanson is to place around 45 million shares - valued at 126.9 million pounds ($204 million) at Wednesday’s closing share price - in HellermannTyton, equating to about 21 percent of the company, Goldman Sachs, which is joint bookrunner alongside Morgan Stanley, said.

** BlackBerry Ltd shares fell five percent on Wednesday on rising doubts a $4.7 billion takeover offer for the struggling smartphone maker by Fairfax Financial Holdings Ltd will succeed.

** Medical technology provider Cognoptix, which is developing a test for early detection of Alzheimer’s Disease, is discussing putting itself up for sale, a person familiar with the situation told Reuters.

** An Indian court issued a restraining order which prevents indebted steel trading house Stemcor from selling its Indian iron assets, a sale that would help the trader to repay at least part of its $1.2 billion debt to banks.

** Phillips Pet Food & Supplies is in talks to sell the distribution company to potential buyers in a deal that could be worth nearly $600 million, three sources familiar with the matter said.

** The Swedish state offloaded its remaining 7 percent stake in Nordea Bank AB, the region’s biggest bank, pocketing a total of 21.6 billion crowns ($3.4 billion) in the sale as it heads into an election year. The government said it priced the sale - the third since 2011 - at 76 Swedish crowns per share, representing a 4 percent discount to Nordea share’s closing price of 79.2 crowns on Tuesday.

** A unit of hedge fund Citadel LLC and a spinoff of Goldman Sachs Group Inc said they would join forces in a bid to create a seamless passage for an order from inception to clearinghouse by bridging the disparate worlds of traders and asset managers.

** Russia’s Gazprom Neft OAO and Novatek OAO are in talks to buy Italian energy company Enel SpA’s indirect stake in gas producer SeverEnergia, which Enel has just agreed to sell to NK Rosneft OAO, a Novatek co-owner said.

** India’s state-run explorer Oil and Natural Gas Corp is in the process of identifying more oil and gas blocks in Kazakhstan in which it could buy stakes, the head of its overseas unit ONGC Videsh said. The company is in talks with the Kazakh government and in the process of identifying blocks that could be for exploration or producing assets, D.K. Sarraf said.

** Miner Anglo American PLC has revised a deal to sell its Amapa iron ore operation in northern Brazil to Zamin Ferrous, following a landslide that sent machinery tumbling into the Amazon River. Anglo had agreed in January to sell its 70 percent stake in Amapa to Zamin for an undisclosed sum.

** Solvay Energy Services, CDC Climat and Japanese trading house Marubeni Corp have formed a joint venture to finance an energy efficiency project at Solvay SA’s rare earth processing plant in France, the companies said. The financial details of the deal were not disclosed.

** Sweden-based activist investor Cevian has raised its stake in German steelmaker ThyssenKrupp AG to 5.2 percent and said it could buy more.

** Chinese e-commerce company Alibaba Group Holding Ltd has decided to pursue an initial public offering in New York after talks with Hong Kong regulators broke down over a listing in the Asian financial hub, sources familiar with the discussions said.

** Lufthansa is leaving the door ajar to forming an alliance with any of the Gulf airlines, the German carrier’s chief executive said, even though currently it sees no benefit in a partnership.

** Austrian property group Immofinanz AG is more likely to spin off its German and Austrian residential property unit Buwog than to list it as a separate company, its chief executive said.

** India’s Larsen & Toubro Ltd is planning to list its toll road assets in Singapore in an initial public offering worth between $500 million to $1 billion using a business trust structure, IFR reported. The earliest date for the IPO is the first quarter of 2014, IFR, a Thomson Reuters publication said.

** Offshore drilling contractor Noble Corp unveiled on Tuesday a long-planned spin-off of older rigs into a new company that may make an initial public offering next year. Noble said the split of 44 drilling rigs and other assets from its “high-specification” rigs would take place by the end of 2014, and that the separation may be preceded by an initial public offering of up to 20 percent of the new company’s stock.

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