3 Min Read
(Adds Home Depot)
April 17 (Reuters) - The following corporate finance-related stories were reported by media:
* Cereal maker Post Holdings Inc is close to a deal to acquire eggs and dairy producer and distributor Michael Foods Group Inc for $2.5 billion, prevailing over a rival bid from Tyson Foods Inc, said a person familiar with the matter.
* Warburg Pincus LLC is in advanced talks to acquire Electronic Funds Source LLC in a deal that could value the transportation services payments company at more than $1 billion, according to people familiar with the matter.
* Home Depot Inc is putting a lid on new-store openings and focusing its expansion efforts on e-commerce, which presents some logistical challenges for a retailer that sells a lot of bulky materials, the Wall Street Journal reported.
* Ahli United Bank, Bahrain's largest lender, is evaluating a sale or a merger with a rival bank in a potential $5 billion deal, several bankers familiar with the situation said.
* PACC Offshore Services Holdings could raise at least S$388.27 million ($310.5 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier, two sources with knowledge of the matter said.
* Discovery Communications has dropped out of bidding to buy Britain's free-to-air Channel 5, according to two sources familiar with the matter.
* Germany's ThyssenKrupp has agreed a 2 billion euro ($2.76 billion), three-year revolving credit facility to replace an existing 2.5 billion euro facility that was due to mature in July, banking sources said.
* Australian developer Meriton Group is considering a A$3 billion ($2.81 billion) offer from a Chinese developer for half its apartment business, according to a media report, highlighting increasing Chinese interest in Australia's housing market.
* Britain's veteran entrepreneurs Nick Leslau and Sir Tom Hunter are set to return to the stock market with a flotation of property assets worth 1.5 billion pounds, the Financial Times reported, citing people familiar with the matter. (r.reuters.com/kez58v)
* Chemtura Corp plans to sell its agrochemicals business to Platform Specialty Products Corp for about $1 billion, the Wall Street Journal reported, citing people familiar with the matter.
For the deals of the day click on
For the Morning News Call-EMEA newsletter click on ($1 = 1.2503 Singapore Dollars) ($1 = 0.7243 Euros) ($1 = 1.0674 Australian Dollars) (Compiled by Aastha Agnihotri in Bangalore)