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Deals of the day -- mergers and acquisitions
April 22, 2013 / 10:01 AM / 5 years ago

Deals of the day -- mergers and acquisitions

(Adds OPAP, Banca Carige, others)

April 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday.

** The large and growing cash pile sitting on the books of Thai corporations has found another target as CP All, the flagship retail business of Thailand’s richest man, weighs a takeover of wholesaler Siam Makro Pcl.

** Online gambling company Betfair rejected a $1.4 billion takeover approach from private equity firm CVC Capital Partners, saying it was too low and had too many conditions attached.

** Italian regional lender Banca Carige said on Monday it had decided to put further assets up for possible sale as part an already announced disposal plan of up to 800 million euros ($1.04 billion).

** Swiss industrial group ABB is to buy U.S. solar energy company Power-One Inc for about $1 billion, betting that growth in emerging markets will revive a sector ravaged by overcapacity and weakening demand in recession-hit Europe.

** Kawasaki Heavy Industries Ltd and Mitsui Engineering & Shipbuilding Co Ltd will begin talks on a possible merger, according to three sources familiar with the discussion, although as yet it is unclear whether the two Japanese heavy machinery makers can overcome internal reticence about a union.

** Greek-Czech investment fund Emma Delta has offered 622 million euros ($810.50 million) to buy a 33 percent stake and management rights in Greece’s gambling monopoly OPAP, an official directly involved in the sale told Reuters on Monday.

** The European Commission may oblige steelmaker Aperam , bidding to buy Finnish steelmaker Outokumpu’s stainless steel plant in Terni, to sell other steel assets if it succeeds, a commission source said.

** Nigeria’s President Goodluck Jonathan signed deals on Monday handing over state electricity assets to 15 bidding companies, a milestone in a privatisation process meant to end decades of power blackouts.

** U.S. private equity firm TPG Capital is putting China’s UniTrust Finance & Leasing Corp up for sale, seeking $800 million, and has hired Morgan Stanley and UBS to handle the deal, people with knowledge of the matter told Reuters.

** U.S. telecoms services company Syniverse Technologies has offered more concessions to EU antitrust regulators examining its 550 million euro ($719.5 million) offer for Luxembourg-based rival Mach, the European Commission said.

** AstraZeneca is to pay privately held Bind Therapeutics as much as $200 million to develop a cancer medicine using the U.S. biotech company’s nanotechnology drug delivery system.

** CECO Environmental Corp said it will buy Met-Pro Corp for $210 million to become the world’s largest maker of air pollution control products.

** Italy’s Gucci, owned by French conglomerate PPR , is buying distressed Tuscan porcelain maker Richard Ginori 1735 as part of expansion plans into luxury tableware.

** New Zealand fast food operator Restaurant Brands on Monday said it had no intention of acquiring Australia’s Competitive Foods Limited, denying speculation that it was planning to purchase the franchise company.

** Irish drugmaker Elan rejected a reduced $11.25 per share bid from Royalty Pharma, putting the ball back in the U.S. investment company’s court in an increasingly convoluted takeover saga.

** Activist shareholder Knight Vinke said on Monday it had not hired banks to handle a possible sale of its 25 percent stake in electrical goods retailer Darty Plc

** London-based private equity fund Pamplona Capital Management is in exclusive talks to buy a majority stake in Turkish hospitals group Medical Park, a source close to the matter told Reuters on Monday.

** The British government said on Monday it will proceed with selling some or all of its 33 percent stake in uranium enrichment company Urenco.

** Hutchison Whampoa is targeting Telecom Italia’s mobile business and would not oppose a spin-off of its fixed-line network, thus removing a major political hurdle to a deal, a source familiar with the matter told Reuters.

** Kroton Educacional SA, Brazil’s largest provider of undergraduate distance learning, plans to take over rival Anhanguera Educacional Participacoes SA in an all-stock deal, the latest in a wave of buyouts in the country’s red-hot education sector.

** Russia’s Otkritie Financial Corp, which is in the process of buying banking group Nomos, has dropped plans to merge Nomos with its Otkritie Bank and a third party in favour of a looser tie-up. (Compiled By Kanika Sikka and Chandni Doulatramani in Bangalore)

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