April 13, 2018 / 10:00 AM / 4 months ago

Deals of the day-Mergers and acquisitions

(Adds Odebrecht SA, Octo Telematics, MGA Entertainment;Updates Federated Investors)

April 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Generic drug maker Mylan is in advanced discussions to acquire Merck KGaA’s consumer health business after other bidders failed to meet the German company’s price expectations, people familiar with the matter said.

** India’s Fortis Healthcare Ltd said Malaysia’s IHH Healthcare Berhad has offered to buy the company at 160 rupees ($2.45) per share, paving the way to a better bid than Manipal Hospitals.

** ArcelorMittal has submitted divestment proposals to the European Commission aiming to secure EU competition clearance for its purchase of Italian steelmaker Ilva, the world’s largest steel producer said.

** Spotify, the world’s largest music streaming service, said on Thursday it is to buy Loudr.fm, a San Francisco-based provider of licensing technology to help it to locate songwriters and pay them royalties they are due.

** Slovenia’s Zavarovalnica Sava, part of insurance group Sava Re, will sign a contract to buy 100 percent of Croatian insurers Ergo Osiguranje and Ergo Zivotno Osiguranje, Sava Re said in a statement.

** Australia’s AMA Group Ltd said it would spin off its automotive component, accessory and procurement business and separately sell its vehicle panel repair arm to funds advised by buyout firm Blackstone Group for an enterprise value of A$508 million ($394.92 million).

** Bratz doll maker MGA Entertainment said its billionaire founder and chief executive, Isaac Larian, had made an $890 million bid for Toys ‘R’ Us stores in the United States and Canada.

** French shopping centre operator Klepierre has abandoned a 5 billion pound ($7.12 billion) bid for Hammerson , accusing the British property company of failing to provide “meaningful engagement” over a potential deal.

** Federated Investors said it will take a majority stake in British peer Hermes Fund Managers for 246 million pounds ($351 million), giving the U.S. asset manager a foothold in the fast-growing field of investing with an eye on factors such as climate change and gender pay equity.

** Warren Buffett’s Berkshire Hathaway Inc plans to vote against four board nominees proposed by USG Corp, giving a boost to a $5.9 billion takeover bid by German’s Gebr Knauf AG that the building products company had rejected.

** Norwegian Air is flattered by British Airways-owner IAG’s interest in making an offer for the budget airline, but has not decided whether to agree to formal talks, founder and biggest shareholder Bjoern Kjos said.

** Brazilian conglomerate Odebrecht SA has reached an agreement in principle with real estate investment firm Hemisferio Sul Investimentos SA (HSI) to sell a project in São Paulo, a person with direct knowledge of the matter told Reuters.

** Italy’s Octo Telematics said its chief executive and chairman had agreed to buy a 20 percent share from controlling shareholder Renova, in a move aimed at resolving issues deriving from the imposition of sanctions on the Russian group.

** Consumer electronics group MediaMarktSaturn is considering options for its Russian operations, which are facing tough competition, people close to the matter said.

** Zimbabwe is looking to sell shares in 35 state-owned firms, including telecoms and mining entities in the latest step to revive the economy under new political leadership, Finance Minister Patrick Chinamasa said.

** Private equity firm Permira said it had agreed to buy a majority stake in Exclusive Group, in a deal that secures substanial funding for the future development of the French cyber security group.

** Russian billionaire Mikhail Prokhorov has sold a 49-percent stake in the Brooklyn Nets basketball team to Joe Tsai, the executive vice chairman and co-founder of the Alibaba Group, the NBA team said in a statement.

** Yahoo Japan Corp said it would buy a minority stake in a Tokyo-based cryptocurrency exchange, becoming the latest major Japanese financial services provider to shrug off security concerns and join the digital money industry.

** Anbang Insurance Group Co, once among China’s most aggressive overseas dealmakers that has been seized by the government, is in talks with investment banks to advise it on selling some businesses, said a person with direct knowledge of the matter.

** New Zealand’s Fletcher Building Ltd posted its biggest share gain in 18 years, after a media report that Australia’s Wesfarmers Ltd - on the lookout for deals - bought a small stake with an eye on a takeover.

** Singapore’s competition watchdog outlined a set of interim measures for ride-hailing firms Grab and Uber Technologies to ensure an open market as it continued its investigation into their merger in the city-state. ($1 = 0.7021 pounds) (Compiled by Mrinalini Krothapalli and Akankshita Mukhopadhyay in Bengaluru)

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