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Deals of the day-Mergers and acquisitions
September 19, 2017 / 10:10 AM / in 2 months

Deals of the day-Mergers and acquisitions

(Adds ProSiebenSat.1, Cementir Holding, Buenaventura, T-Mobile; Updates Linde)

Sept 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** The proposed $74 billion tie-up of German industrial gases group Linde and U.S. peer Praxair got a boost on Tuesday when the world’s biggest sovereign wealth fund said it was backing the deal.

** The activist investor fighting Clariant’s planned $20 billion merger with Huntsman Corp has built a 15.1 percent stake in the Swiss chemicals maker, making it the company’s biggest shareholder.

** Buenaventura, is considering making a bid on a $2 billion copper project in Peru as the precious metal miner’s gold production dwindles and copper prices rally, the company’s chairman told Reuters.

** Post Holdings Inc, which makes Honey Bunches of Oats and Grape-Nuts cereals, said it would buy Bob Evans Farms Inc for about $1.5 billion, adding vegetable-based side dishes and breakfast sausages to its portfolio.

** German chemicals group BASF has strengthened its nylon business by agreeing to buy the global polyamide business from Belgian rival Solvay for 1.6 billion euros ($1.9 billion).

** Drugstore chain Walgreens Boots Alliance Inc said it received regulatory clearance to buy 1,932 stores, 254 stores lesser than it had previously intended, from Rite Aid Corp for $4.38 billion.

** Fomento Economico Mexicano (Femsa) said it had sold a stake of 5.24 percent in Heineken, the world’s second largest brewer for some 2.5 billion euros ($3 billion).

** U.S. drug contract manufacturer Catalent Inc agreed to buy Cook Pharmica LLC for $950 million in cash as the company doubles down on its fast-growing business of supplying biologics to drugmakers.

** The sale of former White House communications director Anthony Scaramucci’s SkyBridge Capital LLC hedge fund investment firm to a consortium that includes a Chinese buyer is still on track, with the closing date expected in late September, the firm’s chief investment officer said.

** New Hope Corp is chasing more coal mine acquisitions in Australia over the next year to drive growth, its boss said after reporting a huge rise in annual profit on the back of an earlier expansion and higher coal prices.

** Creditors of Australia’s embattled Ten Network Holdings Ltd agreed to a A$209.7 million ($167 million) buyout from CBS Corp, effectively ending a battle for control between the U.S. broadcasting giant and Lachlan Murdoch.

** Thai coal miner Banpu PCL is buying a 25.7 percent stake in Singaporean green energy firm, Sunseap Group Pte Ltd for $55.7 million, the company said.

** China General Nuclear Power Corporation (CGN) is bidding to make an equity investment in a planned British nuclear plant, the future of which was thrown into doubt earlier this year amid mounting financial woes at its developer Toshiba Corp.

** Nordic telecom operator Telia Company said it had sold a 7 percent stake in Turkish mobile operator Turkcell in a deal generating proceeds of about 4.1 billion Swedish crowns ($516 million).

** German vehicle brake systems maker Knorr-Bremse has dropped its 5.5 billion crown ($692 million) bid for smaller Swedish rival Haldex, ending for now a heated bidding process that has lasted more than a year.

** Oil major Total has stepped up its expansion into renewables with investments in solar and wind energy producer EREN RE and energy efficiency firm GreenFlex.

** German media group ProSiebenSat.1 is looking at up to 10 potential takeovers to reduce reliance on its advertising-driven TV operation, Chief Executive Thomas Ebeling has told investors.

** German automotive supplier ZF Friedrichshafen will not reenter the race for Swedish brake-systems maker Haldex after Knorr-Bremse dropped its 5.5 billion Swedish crown ($693 million) bid, it said.

** Thyssenkrupp’s works council is prepared to consider a merger of the group’s European steel operations with those of Tata Steel, even though it remains opposed to such a move as a way to restructure the business.

** Russia’s O1 Properties, one of the largest commercial property owners in the country, is in talks with a Chinese investor to sell a stake in the company, three people familiar with the talks said.

** U.S. hedge fund Elliott Management Corp raised its stake in Hitachi Kokusai Electric to just over 6 percent, a government filing showed, piling up pressure on KKR & Co LP that has been trying to buy out the Japanese firm.

** Italy’s third-largest cement maker Cementir Holding has agreed to sell its domestic assets to Italcementi, owned by Germany’s HeidelbergCement.

** Pioneer and digital mapping group HERE said they had agreed to invest in one another so the companies can develop maps for autonomous driving services.

** Portugal’s telecom market watchdog Anacom delivered a blow to takeover plans by Dutch-based Altice for Media Capital, the owner of the TVI television channel, warning it could create serious obstacles to competition and harm consumers.

** Bayer said it was unable to propose the sale of any digital farming assets to allay EU concerns about its planned $66 billion takeover of Monsanto.

** U.S. investment fund Apollo Global Management was one of two bidders for a 55 percent stake in Slovenia’s Gorenjska Banka and is now considering making a higher offer, a newspaper reported.

** U.S. wireless carriers T-Mobile US Inc and Sprint Corp are said to be in active merger talks, CNBC reported on Tuesday, citing sources. (Compiled by Roopal Verma and Anirban Paul in Bengaluru)

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