September 11, 2018 / 10:14 AM / 2 months ago

Deals of the day-Mergers and acquisitions

(Adds Aspen, Iliad, ArcelorMittal, Hudson’s Bay, Elementis, updates Alibaba)

Sept 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Aspen Pharmacare is in talks to sell its global infant formula business as the South African drug maker seeks to cash in on growing demand for baby milk.

** The chief investment officer of Brazilian pension fund Previ said the fund needed more details to approve a proposed deal between Embraer SA and Boeing Co..

** Executives of Deutsche Bank and Commerzbank are increasingly open to the idea of a merger of Germany’s two largest banks, magazine Der Spiegel reported.

** Finnish sports equipment maker Amer Sports has had a 4.6 billion euros ($5.3 billion) takeover approach from China’s Anta Sports and private equity firm FountainVest.

** Iliad has offered at least 749 million euros ($867 million) for spectrum in Italy’s fifth-generation mobile auction as it seeks to boost its first venture outside France.

** ArcelorMittal shares fell more than 2 percent on Tuesday after the company raised its offer for India’s debt-laden Essar Steel, prompting concerns that it was paying too much.

** British speciality chemicals company Elementis has struck a deal to buy Mondo Minerals for $100 million less than initially agreed following criticism of the original price from its shareholders.

** Hudson’s Bay Co (HBC) and Signa Holding agreed on Tuesday to merge Germany’s Galeria Kaufhof and Karstadt chains to form Europe’s third-biggest department store chain as they battle online rivals, sending HBC shares surging.

** China’s largest e-commerce firm, Alibaba Group Holding Ltd BABA.N has joined forces with a state fund and two technology firms in Russia, hoping that access to their client base of more than 100 million people will boost its development.

** Japan’s Renesas Electronics Corp said it had agreed to buy Integrated Device Technology Inc (IDT) for $6.7 billion, its second major acquisition as it deepens its push into semiconductors for self-driving cars.

** U.S. shale oil producer SandRidge Energy Inc said it had ended its strategic review and rejected all bids, saying they undervalued the company. (Compiled by Bharath Manjesh and Shanti S Nair in Bengaluru)

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