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Deals of the day -- mergers and acquisitions
February 20, 2013 / 11:01 AM / 5 years ago

Deals of the day -- mergers and acquisitions

(Adds Life Technologies Corp, MetLife, The New York Times, Printemps, ConocoPhillips; Updates Office Depot, Harvest Natural)

Feb 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2200 GMT on Wednesday:

** An $11 billion-plus sale of Life Technologies Corp is less likely after a big run-up in its shares made a deal less attractive to potential buyer Thermo Fisher Scientific Inc and private equity, people familiar with the matter said.

** Office Depot Inc will acquire smaller rival OfficeMax Inc in a $976 million all-stock deal, the companies said, confirming an agreement inadvertently announced earlier in the day, before it was completed.

** Canadian life insurer Great-West Lifeco bought state-rescued insurer Irish Life for 1.3 billion euros ($1.7 billion) on Tuesday in a deal that increases its presence in Ireland and lightens the Irish government’s debts.

** Payment processor Total System Services Inc (TSYS) said it will buy prepaid debit card provider NetSpend Holdings Inc for about $1.4 billion in cash to expand its presence in the prepaid card market and target new customers.

** Australia’s Leighton Holdings Ltd said it was in exclusive negotiations to sell 70 percent of its telecommunication assets, including its NextGen Networks fibre-optic business, to Canada’s Ontario Teachers’ Pension Plan, in a deal valuing the assets at A$885 million ($915.93 million).

** Private equity firms CVC Capital Partners and BC Partners are readying a bid for France’s Elior that values the catering company at 3.5 billion euros ($4.67 billion) including debt, the Financial Times reported on Tuesday.

** MetLife Inc, the largest U.S. life insurer, has put its British bulk annuity business, MetLife Assurance Ltd, up for sale and has hired investment bankers from Citibank to run an auction for the unit, a person familiar with the matter said.

Sky News first reported the planned sale, citing people close to the situation, and said the price tag would be far below the 1 billion pounds ($1.53 billion) suggested by some analysts.

** Harvest Natural Resources Inc said the planned sale of its Venezuelan operations to Indonesia’s state oil company for $725 million has been scrapped by the Indonesian government, sending its shares down 38 percent in premarket trading.

** The New York Times Co is putting up The Boston Globe for sale for a second time as it attempts to shed one of its last properties, according to a company statement.

** Iconix Brand Group Inc, which licenses shoe and clothing brands to retailers and manufacturers, said it has acquired British denim label Lee Cooper to boost its international presence.

** Luxembourg-based stainless steel maker Aperam SA has teamed up with two Italian peers to bid for Outokumpu Oyj’s Terni plant in Italy, boosting hopes the Finnish company will find a buyer for the mill.

** Investment firm Relational Investors LLC has strong shareholder support for its campaign to break up Timken Co and will continue to press its case until the company splits into two publicly traded companies, Relational founder Ralph Whitworth said on Tuesday.

** Deutsche Bank’s real estate investment unit, said it started exclusive talks to sell its stake in French department store group Le Printemps to Italian partner Borletti Group and Qatari investors.

** Italian businessman Maurizio Borletti has joined Qatari investors to bid for control of Printemps, the upmarket French department store and tourist hotspot.

** A consortium of Poland’s state-controlled utilities PGE and Energa is in advanced talks with Spains’ Iberdrola on the acquisition of its wind power businesses in Poland, several sources close to the transaction said.

** The board of Taishin Financial will seek support from the finance ministry for a merger with Changhwa Bank, Taishin said.

** French bank Credit Agricole SA sold its remaining stake in Italy’s Intesa Sanpaolo SpA in the second half of 2012, it said in a presentation of its 2012 accounts. (Compiled by Mridhula Raghavan and Tej Sapru in Bangalore)

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