October 15, 2018 / 10:33 AM / a month ago

Deals of the day-Mergers and acquisitions

Oct 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 10.00 GMT on Monday:

** Walt Disney has offered concessions in an attempt to allay EU antitrust concerns over its $71.3 billion bid for Twenty-First Century Fox Inc’s entertainment assets, the European Commission said.

** Northvolt, which is building Europe’s largest battery factory in Sweden, has joined forces with German luxury carmaker BMW and Belgium’s Umicore to develop a process for electric car batteries to be recycled.

** Centrica subsidiary Direct Energy Business has agreed to buy the retail electricity business of Source Power and Gas LLC, a wholly owned indirect U.S. subsidiary of Australian power company ERM Power Limited, Centrica said.

** Greencore Group, Britain’s biggest sandwich maker, said it had sold its U.S. business for just over $1 billion, two years after it made a major acquisition in a bid to transform its U.S. operations.

** China’s HNA Group is exploring an outright sale and other options for its IT outsourcing unit Pactera and has held talks with investors including Ant Financial, people with knowledge of the situation said.

** New Zealand’s Fletcher Building scrapped their proposed takeover of Steel & Tube Holdings after its sweetened offer was rejected, sending the target’s shares from a four-month high to their steepest fall in two months.

** Investa Office Fund (IOF) said it has given private equity firm Blackstone four days to match a rival bid by Canada’s Oxford Properties Group as the bidding war for the Australian office owner comes to a head.

** Apple Inc has acquired music analytics start-up Asaii, Axios reported, citing sources, in a bid to strengthen content recommendations to its music users.

** Military communication equipment providers Harris Corp and L3 Technologies Inc announced an all-stock merger that will create the United States’ sixth-largest defense contractor with a market value of $34 billion.

** Egypt’s Sixth of October Development and Investment Co (SODIC) said it was aiming to take over Madinet Nasr for Housing and Development in an exchange of shares.

** Turkish President Tayyip Erdogan’s AK Party will push through parliament a law transferring to the treasury the main opposition party’s shares in Isbank, Turkey’s largest listed lender, Erdogan said.

** Standard Chartered Plc is “actively working” on options for its stake in Indonesia’s PT Bank Permata tbk , the British lender’s Chief Executive Bill Winters said.

** Walmart Inc said on Friday it has acquired online lingerie retailer Bare Necessities for an undisclosed amount, its second apparel-focused acquisition in less than two weeks as it seeks deeper inroads into the online fashion space.

** Chipmaker Broadcom Inc said on Friday it has obtained antitrust clearance from the European Union for its $19-billion deal to acquire software company CA Technologies Inc . (Compiled by Mary Ann Alapatt in Bengaluru)

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