June 27, 2014 / 10:16 AM / 4 years ago

Deals of the day- Mergers and acquisitions

(Adds Electrica, Allergan, Audika, Daimler and others; updates Fresenius Medical Care, Borussia Dortmund)

June 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Europe’s biggest tour operator TUI Travel and its majority owner TUI AG plan to merge in an all-share, nil-premium deal worth around 4.4 billion pounds ($7.49 billion) to cut costs and create the world’s largest leisure tourism group.

** Pershing Square Capital Management, led by activist investor William Ackman, and Allergan Inc have agreed that calling a special meeting in an effort to elect new board members will not trigger Allergan’s so-called “poison pill” measure, settling a lawsuit, the companies said. Pershing Square and Valeant Pharmaceuticals International Inc are pursuing Allergan in a $53 billion hostile takeover bid. Pershing Square said the agreement would allow it to begin soliciting proxies “soon”.

** Oversea-Chinese Banking Corp Ltd said all the pre-conditions to an agreement to buy Hong Kong’s Wing Hang Bank Ltd had been satisfied, as various regulators had given their blessing to the $4.95 billion deal.

** Daimler and Renault Nissan will invest 1 billion euros ($1.36 billion) to develop small cars and build a factory in Mexico, the companies said, in a step that deepens cooperation between the Mercedes and Infiniti brands.

** Romanian utility Electrica has set a bottom-of-the range price for shares in its stock market flotation, being privatized under a 4-billion-euro ($5.5 billion) aid deal led by the International Monetary Fund. Electrica, which supplies power to 3.5 million customers in the European Union state and has a regulated, guaranteed profit margin, set the final price of its shares at 11 lei apiece, having previously set a range of between 11 and 13.5 lei.

** Encana Corp said it would sell its Bighorn gas properties in Alberta to Apollo Global Management LLC for about C$2 billion ($1.9 billion) as it focuses on more-lucrative oil and natural-gas liquids.

** Electrolux, the world’s second-biggest home appliances maker, refrained from commenting on a report it was one of three firms preparing bids for a stake in Italian peer Indesit. A source told Reuters late on Thursday that Sweden’s Electrolux, U.S. rival Whirlpool and China’s Sichuan Chaghong Electric were aiming to buy a stake in Indesit put on sale by biggest owner Fineldo, a holding vehicle of the Merloni family.

** French-Japanese car making alliance Renault-Nissan has completed a deal to take control of Russia’s largest automaker AvtoVAZ, Renault said.

** Germany’s Deutsche Bank is seeking a buyer for all or part of Maher Terminals, an operator of cargo container facilities in the United States and Canada that it bought for $2.3 billion including debt in 2007, The Wall Street Journal reported.

** Swiss engineering group ABB said it would sell its Meyer Steel Structures business to Trinity Industries Inc for $600 million in cash.

** Italian hearing aid company Amplifon said on Friday it was interested in buying smaller rival Audika , but the French company said it was not for sale. Amplifon’s Chief Executive Franco Moscetti told Reuters Amplifon could invest 200 million euros to 250 million euros ($273 million-$340 million) in new acquisitions outside Italy, where it is already market leader, and cited Audika as an interesting target.

** German first-division soccer club Borussia Dortmund is taking a 26.7 million euro ($36.3 million) capital injection from its shirt sponsor, chemicals maker Evonik , who will get a 9.06 percent stake in the club in return.

** Ahold NV has received preliminary approval to acquire supermarket chain SPAR in the Czech Republic, but will have to divest some stores, the Dutch food retailer said.

** Germany’s Fresenius Medical Care agreed to buy a majority stake in Sound Inpatient Physicians Inc for about $600 million, part of a drive to offer additional services linked to its core business of kidney dialysis.

** Laurent Mignon, the chief executive of France’s fourth-largest listed bank Natixis, said the sale of a 51 percent stake in credit insurer Coface will help lift Natixis’s core equity tier one ratio by 40 basis points.

** Chinese conglomerate Fosun International, which is courting resort operator Club Mediterannee together with French private equity firm Ardian, has ruled out changing partners despite a potential rival bid from Italian tycoon Andrea Bonomi.

** Roberto Cavalli’s private equity designs faded on Friday as Investcorp ended talks to buy a majority stake, bolstering skepticism the eponymous fashion house could go down the same route of rival label Versace and engage international investors. The 73-year-old Italian designer, known as “The Leopard King” for his animal prints colorfully cast in leather, silk and velvet, was hoping to receive a 450-million-euro ($612 million) offer from Investcorp by a June 30 deadline.

** Online travel agency Expedia Inc said on Thursday that it planned to buy Auto Escape Group, a European car rental booking company.

** Graeme Hart, whose packaging conglomerate made him New Zealand’s richest man, is in the early stage of exploring options for his U.S. auto parts businesses, which he acquired for nearly $2 billion in 2011, according to people familiar with the matter.

** Activist investment firm Relational Investors LLC has amassed a roughly 8.5 percent stake in Manitowoc Co Inc and is urging the crane and food equipment company to break itself up, according to people familiar with the matter.

** Internet giant Yahoo has put in a bid of around $250 million to buy Fullscreen, a company which creates content for YouTube channels, Britain’s Sky News reported on Thursday. ($1 = 0.60 British pounds) ($1 = 3.22 Romanian leus) ($1 = 6.16 Norwegian krones) ($1= 0.74 euros) ($1 = 1.07 Canadian dollars) (Compiled by Shailaja Sharma and Ramkumar Iyer in Bangalore)

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