February 26, 2019 / 9:02 PM / 6 months ago

Deals of the day-Mergers and acquisitions

Feb 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Brazil’s Sao Paulo state hopes to sell at least 4 billion reais ($1.07 billion) in state assets as it aims to shore up government finances, state Finance Minister Henrique Meirelles said.

** Laura Ashley Holdings Plc has dismissed an unsolicited takeover offer from investment firm Flacks Group, saying it would significantly undervalue the British fashion retailer.

** U.S. investor Cerberus, which holds stakes in Deutsche Bank and Commerzbank, favours a merger between the two lenders, a German newspaper reported.

** A U.S. appeals court approved wireless carrier AT&T Inc’s deal to buy media company Time Warner, a defeat for the Trump administration which had argued the $85.4 billion merger would mean higher prices for consumers.

** Shareholders of Brazil’s Embraer SA approved a deal to sell 80 percent of the company’s commercial plane division to Boeing Co, enabling Boeing to compete with Airbus SE in the market for jets with up to 150 seats.

** Nutrien Ltd is in talks for a potential deal involving Australian rural services firm Ruralco, the Canadian fertilizer maker said, following a media report about a possible takeover of Ruralco.

** Thailand’s TMB Bank said it signed a non-binding agreement to merge with Thanachart Bank in a deal worth up to 140 billion baht ($4.47 billion), which would make the new entity the sixth-largest bank in the country.

** BASF said it would put its pigments business, with about 1 billion euros in sales, on the auction block as it continues to divest lower-margin businesses.

** Spanish lender Abanca scrapped plans to launch a takeover bid for rival Liberbank, saying it had been unable to carry out due diligence before taking a final decision on whether to make an offer.

** Israeli lender Bank Hapoalim said it is planning a sale of its holdings in Turkey’s Bank Pozitif.

** Walmart said it has acquired Aspectiva, an Israeli start-up whose technology analyses consumers’ product reviews to help shoppers make decisions.

** Britain’s competition watchdog said Provident Financial and smaller rival Non-Standard Finance would have to hold off from integrating after any deal, to protect staff and customers while it considers the market impact of combining the subprime lenders.

** Global private language tutor Education First (EF) is considering selling a part of its China business which could value the unit at over $2 billion, people with knowledge of the situation told Reuters. (Compiled by Bharath Manjesh in Bengaluru)

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