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Deals of the day -- mergers and acquisitions
May 21, 2013 / 8:01 PM / 5 years ago

Deals of the day -- mergers and acquisitions

(Adds Sprint Nextel, Dish Network, DBS Group, France Telecom, Natixis, Alere Inc, EDF and others)

May 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Sprint Nextel Corp said its Japanese suitor SoftBank Corp granted it a waiver allowing it to consider a $25.5 billion rival bid by Dish Network Corp , as pressure mounts on SoftBank to sweeten its offer for the No. 3 U.S. wireless carrier.

** Sprint Nextel raised its buyout offer for wireless service provider Clearwire Corp to $3.40 per share, but the new bid was not high enough to impress some investors.

** Dish Network has offered $2 billion for the spectrum assets of its U.S. partner LightSquared, which was backed by Philip Falcone’s hedge fund Harbinger Capital Partners, a source said on Tuesday.

** Indonesia gave its approval for DBS Group to buy a $2.7 billion stake in PT Bank Danamon, in a move that opens the door for the Singapore bank to complete Southeast Asia’s largest bank merger.

** Specialty chemicals producer Rockwood Holdings Inc’s pigments businesses have attracted offers from buyout firms including Blackstone Group LP and Advent International Corp, several people familiar with the matter said.

** Australia-listed copper miner Discovery Metals Ltd has opened its books to spurned private equity suitor Cathay Fortune Corp and others in an effort to attract a new takeover offer, potentially valuing it at A$195 million ($190 million), it said on Tuesday.

** Italy’s eyewear maker Safilo said on Tuesday it had agreed a 10-year licensing deal with France’s Essilor , the world’s biggest maker of corrective eye lenses.

** Italy’s cash-strapped publisher RCS Mediagroup said on Tuesday it asked its banks to change the terms of a deal on debt renegotiation to reflect the recent improvement in financial markets.

** Chevron Corp is in advanced talks to sell its downstream assets in Egypt and Pakistan, three sources said, with the planned disposals seen raising around $300 million for the U.S. oil major.

** French bank Natixis does not expect to put its Coface unit up for sale but is ready to study a reduction in its stake in the credit insurer, Chief Executive Laurent Mignon said on Tuesday.

** France Telecom plans to invest between 30 and 50 million euros ($64 million) in its video-sharing website Dailymotion and begin a fresh search for a partner in the autumn, its chief executive said on Tuesday.

** Spanish drugmaker Grifols said on Tuesday it has signed an exclusive contract to license U.S. Aradigm Corporation’s Pulmaquin compound and may take a stake in the California-based firm.

** Norwegian fish farmer Cermaq has failed to win enough shareholder support to buy Peruvian fish feed maker Copeinca, opening the door to a $1.7 billion takeover of Cermaq by bigger rival Marine Harvest.

** EDF has entered exclusive talks to sell its 49 percent stake in Slovakia’s No. 2 electricity distributor Stredoslovenska Energetika to Czech energy company EPH, the French utility said on Tuesday.

** Gazprom is squeezing Athens for better terms to buy DEPA, Greece’s sole retail gas distributor, a Greek official said, as the Russian gas export monopoly leverages its position as the only major player in the running.

** An activist investor in Alere Inc wants the health diagnostics and services company to explore a sale of its drug testing business, which it believes could fetch as much as $2.5 billion and help Alere pay down debt, two people familiar with the matter said on Tuesday.

** Philippine conglomerate San Miguel Corp is willing to keep its banking arm if Malaysia’s second-largest lender, CIMB Group Holdings Bhd, walks away from a deal worth nearly $300 million for a 58 percent stake in the bank, its president said on Tuesday.

** U.S. private equity firm Riverstone Holdings LLC is planning to invest as much as $1 billion in a new commodities venture run by Deutsche Bank former head of commodities David Silbert, the Financial Times reported.

** A group of Italian investors are looking to sell a 5.36 percent stake in Italian power grid operator Terna, UniCredit said on Tuesday.

** Novo A/S, the holding company of Danish insulin producer Novo Nordisk, said it had acquired Norwegian-based Xellia Pharmaceuticals for about $700 million.

** Citibank and Barclays are likely to be named the lead advisers for Ghana’s plans to issue up to $1 billion of Eurobonds this year, officials involved in the discussion said on Monday.

** U.S. private equity firm Kohlberg Kravis Roberts & Co is selling a remaining stake in Australia’s Seven West Media Ltd valued at A$265 million ($260 million), exiting an investment made almost seven years ago at the height of a buyout boom.

** Vodafone boss Vittorio Colao staked his reputation on selling the group’s prized stake in U.S. operator Verizon Wireless at the right time and right price, saying on Tuesday he would not bow to pressure to do any deal.

** Tobacco company Philip Morris International Inc said it would buy out its Mexican joint venture partner, controlled by billionaire Carlos Slim, for about $700 million.

** Finnish paper firm Ahlstrom Oyj is set to secure European Union approval for the merger of its label unit with Munksjo to form the world No. 1 speciality paper maker after agreeing to sell a German business, a person familiar with the matter said on Tuesday. (Compiled by Vijay Vishwas and Lehar Maan)

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