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Deals of the day -- mergers and acquisitions
March 20, 2013 / 10:01 AM / 5 years ago

Deals of the day -- mergers and acquisitions

March 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Real estate investment trust American Realty Capital Properties Inc said it offered to buy unlisted Cole Credit Property Trust III Inc for $5.7 billion in cash and stock to create the largest publicly traded REIT in the net lease sector.

** China’s Zhejiang Geely Holding Group said on Wednesday it will not make a final bid for a stake in Fisker Automotive Inc as it is not in line with its strategic considerations.

** Canada’s Valeant Pharmaceuticals International Inc said it would buy Obagi Medical Products Inc for about $344 million to boost its dermatology business, pushing ahead with a strategy of rapid growth through acquisitions.

** The Indian government will sell 240.4 million shares, or a 5.82 percent stake, in state-owned Steel Authority of India Ltd through an auction on March 22, the steel ministry said on Wednesday.

** Yahoo Inc is in talks to acquire a controlling stake in Dailymotion, one of the world’s most popular online video websites, in what would be Yahoo CEO Marissa Mayer’s largest deal since taking the reins in July, the Wall Street Journal reported on Tuesday.

** British travel firm Thomas Cook has agreed to sell its North American business to Canada’s Red Label Vacations Inc for 3.4 million pounds ($5.14 million), it said on Wednesday.

** Canadian miner Alamos Gold Inc dropped its offer to buy peer Aurizon Mines Ltd, putting an end to its bidding war with Hecla Mining Co.

** South Korea’s Doosan Co Ltd is considering buying German high-tech lighting company Novaled AG, the firm said.

** Australian iron ore miner Fortescue Metals Group expects to sell a 30-40 percent stake in its port and rail unit by the end of June, having attracted strong interest in the assets, Chief Executive Nev Power said.

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