February 25, 2014 / 10:02 AM / 4 years ago

Deals of the day- Mergers and acquisitions

(Adds Hutchison, Riverbed Technology, Gjensidige)

Feb 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Hutchison’s Three Ireland is prepared to sell radio spectrum and continue a network sharing deal with a rival in order to win EU approval of its $1 billion bid for Telefonica’s O2 Ireland, a source familiar with the matter said on Tuesday.

** Hedge fund Elliott Management increased its offer for network gear maker Riverbed Technology Inc to $3.36 billion from $3.08 billion and said it was aware of other potential buyers that Riverbed had so far ignored.

** British investment manager St James’s Place Chief Executive David Bellamy said on Tuesday that the company was at an advanced stage in buying Henley Group, an advisory business with around 400 million pounds ($665 million) under management and 4,000 expatriate clients in Hong Kong, Singapore and Shanghai.

** Finland’s state investment fund, Solidium, has sold 2.3 percent of Sampo, with analysts saying the price indicated strong market interest in the insurance and investment company. Solidium, which now owns 11.9 percent of Sampo, said it raised 450 million euros ($618 million) from the accelerated offering at 35.65 euros per share.

** A consortium led by Swedish private equity firm EQT is in the final stage of talks to buy Australia’s I-MED, the radiology group said on Tuesday, in a deal that could be worth more than A$400 million ($361 million).

** Malaysia’s Petronas has agreed to sell a 25 percent stake in its Canadian shale gas assets to an Indian company and an Asian gas buyer, the state firm’s chief executive, Shamsul Azhar Abbas, said on Tuesday.

** Orange said on Tuesday that it was in talks with Microsoft over a possible tie-up with its video-sharing website Dailymotion, nearly a year after discussions with Yahoo collapsed following state opposition.

** Norwegian insurer Gjensidige aims to sell its 20.1 percent stake in life insurer Storebrand, it said on Tuesday, just two weeks after failing to attract satisfactory bids for a large stake in Sparebank 1 SR-Bank.

** An alliance between Carlos Slim’s America Movil and the Austrian government to control Telekom Austria moved closer as Slim said he wanted to start formal talks and Austria said it was interested.

** Finnish paper firm Ahlstrom and Swedish peer Munksjo could face a fine of up to 1 percent of their revenues for providing misleading information related to their 2013 merger deal, European Union antitrust regulators said on Tuesday.

** BASF head Kurt Bock told a news conference on Tuesday that the chemicals group would continue to look for attractive takeover targets in the oil and gas industry, when asked about any interest in German utility RWE AG’s fossil fuel unit.

** Ghana’s sole refinery, the Tema Oil Refinery (TOR), is close to signing a joint venture agreement with PetroSaudi International and a deal is expected soon, Ghanaian President John Mahama said.

** Japan-based Line Corp denied a media report that it was in talks to sell a stake to SoftBank Corp - a report that comes after big acquisitions of rival messaging app firms have fanned speculation that it too may be up for grabs.

** Scania’s independent board committee said on Tuesday that it had begun evaluating Volkswagen’s bid for the remaining shares in the truck maker and advised shareholders to not take a final decision until all relevant information was available.

** Fresenius Medical Care, the world’s biggest provider of dialysis treatments, would look at Swedish rival Diaverum if it was put up for sale, its chief executive said.

** Qatar Airways is open to revenue-sharing partnerships with other airlines that are part of its global airline alliance, including British Airways, the Gulf carrier’s chief executive said.

** The sale of Vivendi’s stake in Maroc Telecom to United Arab Emirates operator Etisalat is set to be completed in the coming weeks, Vivendi’s chief financial officer said on Tuesday.

** Japanese brokerage Daiwa Securities Group Inc said on Tuesday it had agreed in principle to an alliance with Australia and New Zealand Banking Group Ltd in the business of advising on mergers and acquisitions.

($1 = 1.11 Australian dollars)

($1 = 0.60 British pounds)

$1 = 0.73 euros Compiled by Shubhankar Chakravorty and Anannya Pramanick in Bangalore

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below