November 21, 2017 / 10:58 AM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Mellanox Technologies, WPP, Credito Valtellinese, PGNiG )

Nov 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Israeli chip maker Mellanox Technologies saw its shares surge on the Nasdaq on Tuesday after activist hedge fund Starboard Value LP bought a 10.7 percent stake to influence strategy.

** Britain’s WPP agreed on Tuesday to accept Bain Capital’s offer for its stake in Japan’s Asatsu-DK Inc (ADK) , dropping its threat of litigation after agreeing plans to reinvest in the advertising group at a later date.

** Italian mid-tier lender Credito Valtellinese is in talks with banks to set up a consortium to underwrite its planned 700 million euros ($822 million) capital increase, a source close to the matter said on Tuesday.

** Poland’s dominant gas firm PGNiG has signed its first mid-term deal for liquefied natural gas (LNG) deliveries from the United States, as part of a wider plan to cut its reliance on Russian supplies, it said on Tuesday.

** Bain Capital LLC on Tuesday said its $1.35 billion offer for Asatsu-DK Inc (ADK) had been accepted by the Japanese company’s 25 percent shareholder WPP, after the parties floated the idea of WPP reinvesting at a later date.

** AT&T Inc is likely to emerge victorious from a legal fight with the United States Department of Justice over its $85.4 billion acquisition of Time Warner Inc, analysts said in a series of research notes on Tuesday.

** LVMH, the world’s biggest luxury goods company, has bought a majority 60 percent stake in Napa Valley’s Colgin Cellars vineyard, as part of the French group’s general strategy of acquiring highly-rated wine operations.

** Philippine Telegraph & Telephone Corp is talking to Chinese companies about forming strategic partnerships as part of plans to turn a niche player into a force in the domestic telecoms market, its chairman said.

** BP said it had agreed to sell stakes in three fields in its Bruce assets in the North Sea to Serica Energy Plc .

** Oil exploration company Cairn Energy is in talks with BP to sell a 30 percent stake in its deepwater SNE field offshore Senegal, which could be valued at around $600 million, banking sources and a Senegal oil ministry source said.

** A provincial real estate developer in China, Zhongtian Financial, unveiled a plan to acquire a stake in a local life insurance firm for as much as $4.7 billion, in what could be the country’s second-biggest domestic equity investment this year.

** China’s Wanda Hotel Development Co said it was open to business opportunities related to its portfolio of landmark overseas properties, although no sale talks were under way.

** British petrochemicals firm Ineos has agreed to buy a majority stake in two exploration licences for gas in Scotland’s West of Shetland field which contain the Lyon prospect, furthering its plans to move into oil and gas exploration.

** German energy group Uniper rejected an 8.05 billion euro ($9.5 billion) takeover bid from Finland’s Fortum but will hold talks as it seeks a higher offer and more commitments to the company’s future.

** Finland’s Fortum has no plans to raise its offer price for Uniper despite the German group’s official rejection of the bid, a spokesman said.

** Rio Tinto., Canada’s Wealth Minerals and Chinese private equity firm GSR Capital are considering a bid for a stake in Chilean lithium producer SQM (Sociedad Quimica Y Minera), banking sources told Reuters.

** Philippine Telegraph & Telephone Corp is talking to eight Chinese companies, mostly in telecoms, to form strategic partnerships as it aims to become a major player in the domestic telecoms market, its chairman said.

** Ireland’s CRH, the world’s third-largest building materials group by market capitalization, said it has capacity on its balance sheet for more deals, after a spending spree this year.

** India’s ONGC Videsh Ltd, the overseas investment arm of the country’s top explorer Oil and Natural Gas Corp, said on Tuesday it had acquired a 15 percent stake in Namibia’s offshore Block 2012A from Tullow Oil.

** AmerisourceBergen Corp said it would buy privately held U.S. drug wholesaler H. D. Smith for $815 million in cash.

** Sabeco, Vietnam’s biggest beer firm, will hold roadshows in Singapore and London on the government’s plan to sell a stake, the country’s trade ministry said in a statement.

** Australia’s Downer EDI said it plans to sell its freight rail business to Caterpillar Inc’s Progress Rail unit for A$109 million ($82.18 million) as the engineering contractor reduces its dependence on the mining sector.

** Private equity firm EQT is buying a stake of about 40 percent in music company Epidemic Sound, it said without disclosing further financial details of the deal.

** Norwegian oil firm Aker BP ASA said it entered into separate agreements with Maersk Drilling and Halliburton for jack-up drilling rigs, and with Odfjell Drilling and Halliburton for semi-submersible drilling rigs. (Compiled by Manas Mishra and Vibhuti Sharma in Bengaluru)

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