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Deals of the day- Mergers and acquisitions
March 27, 2014 / 10:40 AM / 3 years ago

Deals of the day- Mergers and acquisitions

(Adds Finnair, Cargill, SoftBank, Grupo, DIA, Intel; Updates Yahoo Japan)

March 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Yahoo Japan Corp will buy mobile network operator eAccess from No. 3 Japanese wireless carrier SoftBank Corp for 324 billion yen ($3.17 billion) to launch its own mobile Internet service.

** Healthcare company Baxter International Inc said it would spin off its biotechnology operations into a publicly traded company by the middle of next year, leaving behind its core medical technology business.

** Murphy Oil is ready to exit British refining next month with the sale of its Milford Haven plant and retail assets to private equity fund Greybull Capital for over $500 million, sources close to the talks told Reuters.

** Anglo-South African insurance group Old Mutual has sold the Austrian and German businesses of its wealth management arm as it is reshaped to focus on core UK and offshore markets.

** Royal Bank of Scotland’s separation and flotation of its U.S. business Citizens could be delayed after it was one of three foreign banks which had their plans for dealing with a financial crisis rejected by the U.S. Federal Reserve.

** French oil and gas explorer Maurel & Prom signalled it would talk to potential buyers and partners after striking a deal which means Gabon no longer has the right to veto any change in its shareholding.

** The People’s Bank of China (PBOC) has acquired stakes of around 2 percent in Italian state-owned energy companies Eni and Enel, Italian market regulator Consob said on Thursday.

** Babcock International, the UK defense support and engineering services group, has agreed to acquire helicopter transport services firm Avincis for 920 million pounds ($1.5 billion) plus debt, it said on Thursday, funding the long-expected deal with a 1.1 billion-pound rights issue.

** Lupin Ltd, India’s No. 4 drugmaker by revenue, said it had agreed to buy eye-treatments maker Laboratorios Grin S.A. De C.V for an undisclosed amount, moving into Mexico’s $275 million ophthalmic market.

** Russian oil services group Integra said it had received a proposal from some members of its management to acquire the company. Integra also said that the management would pay $10 per common share or $20 per global depositary receipt, valuing the company at about $89.7 million on a fully diluted basis.

** Vivendi will examine the latest Bouygues offer for its SFR telecoms subsidiary “with all the necessary rigor” while respecting a three-week exclusivity period granted to negotiations with a rival bidder, newspaper le Figaro reported on Thursday.

** SA Peugeot Citroen’s tie-up with China’s Dongfeng was signed on Wednesday, bringing the French carmaker much-needed cash and greater access to Asia but leaving major challenges ahead.

** China signed a new 10-year accord on Wednesday allowing Airbus to assemble A320 planes on its soil until 2025 and unblocked orders for larger jets worth more than $6 billion, restoring ties after a row with Europe over aircraft emissions.

** U.S. agribusiness company Cargill said it was forming a joint sugar trading business with Brazil’s Copersucar in a move that will create one of the world’s largest traders of the sweetener.

** Japan’s SoftBank Corp is in talks with Dish Network Corp on a fixed wireless broadband partnership, the chief executive officer of SoftBank, Masayoshi Son, told Reuters on Thursday.

** Shareholders of Brazilian telecommunications company Grupo Oi SA on Thursday approved a capital increase of up to 14 billion reais ($6.1 billion) and an asset appraisal of takeover target Portugal Telecom SA SGPS, further paving the way for the combination of both companies.

** Rival mobile companies should be given cost price access to the German network of Telefonica as a condition of its takeover of KPN’s local business being approved, German internet service provider United Internet said on Thursday.

** Spanish discount grocer DIA has hired investment bank BNP Paribas to explore a potential sale of its French business as the company struggles to grow in the country, Bloomberg reported on Thursday, citing people familiar with the matter.

** Intel Corp said it made a significant investment in Cloudera and will make the fast-growing startup its preferred distributor of software for crunching Big Data. The top chipmaker said its equity investment in Cloudera makes it the company’s single largest strategic shareholder and it comes as Intel looks to expand its server business to make up for falling sales of personal computers.

** Private equity firm TPG Capital LP is in advanced talks to invest in Chobani LLC, a maker of Greek yogurt, the New York Times reported on its website on Thursday, citing two unidentified people briefed on the matter. TPG is now “apparently” the lead bidder, the newspaper said, adding that the structure of the potential investment has yet to be finalized and that the talks might not lead to a deal. ($1 = 0.60 British pounds) ($1 = 102.31 Japanese yen) (Compiled by Neha Dimri and Sampad Patnaik in Bangalore)

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