(Adds Electrica, Allergan, Audika, Daimler and others; updates
Fresenius Medical Care, Borussia Dortmund)
June 27 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Friday:
** Europe's biggest tour operator TUI Travel and its
majority owner TUI AG plan to merge in an all-share, nil-premium
deal worth around 4.4 billion pounds ($7.49 billion) to cut
costs and create the world's largest leisure tourism group.
** Pershing Square Capital Management, led by activist
investor William Ackman, and Allergan Inc have agreed
that calling a special meeting in an effort to elect new board
members will not trigger Allergan's so-called "poison pill"
measure, settling a lawsuit, the companies said. Pershing Square
and Valeant Pharmaceuticals International Inc
are pursuing Allergan in a $53 billion hostile takeover bid.
Pershing Square said the agreement would allow it to begin
soliciting proxies "soon".
** Oversea-Chinese Banking Corp Ltd said all the
pre-conditions to an agreement to buy Hong Kong's Wing Hang Bank
Ltd had been satisfied, as various regulators had
given their blessing to the $4.95 billion deal.
** Daimler and Renault Nissan will
invest 1 billion euros ($1.36 billion) to develop small cars and
build a factory in Mexico, the companies said, in a step that
deepens cooperation between the Mercedes and Infiniti brands.
** Romanian utility Electrica has set a bottom-of-the range
price for shares in its stock market flotation, being privatized
under a 4-billion-euro ($5.5 billion) aid deal led by the
International Monetary Fund. Electrica, which supplies power to
3.5 million customers in the European Union state and has a
regulated, guaranteed profit margin, set the final price of its
shares at 11 lei apiece, having previously set a range of
between 11 and 13.5 lei.
** Encana Corp said it would sell its
Bighorn gas properties in Alberta to Apollo Global Management
LLC for about C$2 billion ($1.9 billion) as it focuses
on more-lucrative oil and natural-gas liquids.
** Electrolux, the world's second-biggest home
appliances maker, refrained from commenting on a report it was
one of three firms preparing bids for a stake in Italian peer
Indesit. A source told Reuters late on Thursday that
Sweden's Electrolux, U.S. rival Whirlpool and China's
Sichuan Chaghong Electric were aiming to buy a stake
in Indesit put on sale by biggest owner Fineldo, a holding
vehicle of the Merloni family.
** French-Japanese car making alliance Renault-Nissan
has completed a deal to take control of
Russia's largest automaker AvtoVAZ, Renault said.
** Germany's Deutsche Bank is seeking a buyer for
all or part of Maher Terminals, an operator of cargo container
facilities in the United States and Canada that it bought for
$2.3 billion including debt in 2007, The Wall Street Journal
** Swiss engineering group ABB said it would sell
its Meyer Steel Structures business to Trinity Industries Inc
for $600 million in cash.
** Italian hearing aid company Amplifon said on
Friday it was interested in buying smaller rival Audika
, but the French company said it was not for sale.
Amplifon's Chief Executive Franco Moscetti told Reuters Amplifon
could invest 200 million euros to 250 million euros ($273
million-$340 million) in new acquisitions outside Italy, where
it is already market leader, and cited Audika as an interesting
** German first-division soccer club Borussia Dortmund
is taking a 26.7 million euro ($36.3 million) capital
injection from its shirt sponsor, chemicals maker Evonik
, who will get a 9.06 percent stake in the club in
** Ahold NV has received preliminary approval to
acquire supermarket chain SPAR in the Czech Republic, but will
have to divest some stores, the Dutch food retailer said.
** Germany's Fresenius Medical Care agreed to buy
a majority stake in Sound Inpatient Physicians Inc for about
$600 million, part of a drive to offer additional services
linked to its core business of kidney dialysis.
** Laurent Mignon, the chief executive of France's
fourth-largest listed bank Natixis, said the sale of a 51
percent stake in credit insurer Coface will help lift Natixis's
core equity tier one ratio by 40 basis points.
** Chinese conglomerate Fosun International, which
is courting resort operator Club Mediterannee together
with French private equity firm Ardian, has ruled out changing
partners despite a potential rival bid from Italian tycoon
** Roberto Cavalli's private equity designs faded on Friday
as Investcorp ended talks to buy a majority stake, bolstering
skepticism the eponymous fashion house could go down the same
route of rival label Versace and engage international investors.
The 73-year-old Italian designer, known as "The Leopard King"
for his animal prints colorfully cast in leather, silk and
velvet, was hoping to receive a 450-million-euro ($612 million)
offer from Investcorp by a June 30 deadline.
** Online travel agency Expedia Inc said on
Thursday that it planned to buy Auto Escape Group, a European
car rental booking company.
** Graeme Hart, whose packaging conglomerate made him New
Zealand's richest man, is in the early stage of exploring
options for his U.S. auto parts businesses, which he acquired
for nearly $2 billion in 2011, according to people familiar with
** Activist investment firm Relational Investors LLC has
amassed a roughly 8.5 percent stake in Manitowoc Co Inc
and is urging the crane and food equipment company to break
itself up, according to people familiar with the matter.
** Internet giant Yahoo has put in a bid of around
$250 million to buy Fullscreen, a company which creates content
for YouTube channels, Britain's Sky News reported on Thursday.
($1 = 0.60 British pounds)
($1 = 3.22 Romanian leus)
($1 = 6.16 Norwegian krones)
($1= 0.74 euros)
($1 = 1.07 Canadian dollars)
(Compiled by Shailaja Sharma and Ramkumar Iyer in Bangalore)