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Deals of the day-Mergers and acquisitions
September 22, 2017 / 10:14 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds T-Mobile, Elenia Oy, Wolford; Updates General Electric)

Sept 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

** General Electric Co is nearing a deal to sell its industrial solutions unit to Swiss engineering company ABB Ltd in a deal valued at $2.5 billion to $3 billion, Bloomberg reported, citing people with knowledge of the matter.

** T-Mobile US Inc is close to agreeing tentative terms on a deal to merge with peer Sprint Corp, people familiar with the matter said, a major breakthrough in efforts to merge the third and fourth largest U.S. wireless carriers.

** Air Berlin’s creditors have picked German flagship carrier Lufthansa and Britain’s easyJet as possible buyers for the insolvent carrier’s aviation business and will negotiate with them for the next three weeks.

** UniCredit has called a shareholder meeting for Dec. 4 to put new governance proposals to the vote, including removing a 5 percent cap on voting rights and allowing the board to select its own candidates to be directors.

** Top Australian television broadcaster Seven West Media Ltd and smaller Prime Media Group Ltd said they held takeover talks which ended without a deal, a faltering start to likely media consolidation brought on by deregulation.

** Kazakhstan-focused copper miner Central Asia Metals said it would buy Bermuda-based Lynx Resources Ltd in a $402.5 million reverse-takeover deal from its owners.

** North Asia private equity firm MBK Partners is preparing a bid to buy language learning business Wall Street English (WSE) from Pearson Plc, the world’s biggest education company, three people with direct knowledge of the matter said.

** Two state-owned Chinese power grid companies are interested in buying Finland’s second-biggest electricity distributor, Elenia Oy, in a deal that could be worth 3 billion euros ($3.6 billion), sources said.

** Wolford’s former supervisory board chief, Antonella Mei-Pochtler, has teamed up with an international retail consortium to bid for a majority stake in the loss-making luxury textiles maker, Austrian weekly Trend reported. (Compiled by Anirban Paul in Bengaluru)

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