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Deals of the day-Mergers and acquisitions
October 20, 2017 / 1:04 PM / a month ago

Deals of the day-Mergers and acquisitions

(Adds ASR, Group Five, Linde, Air Berlin, Euroports)

Oct 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Shares of Dutch insurer ASR spiked in afternoon trading on Friday after Bloomberg reported that Aegon had approached the company for a possible takeover but was rebuffed.

** South African construction company Group Five let a 1.6 billion-rand ($116 million) offer from Greenbay Properties, for some of its assets lapse at 1500 GMT, Group Five said on Friday, causing its shares to fall more than 14 percent.

** German industrial gases group Linde has passed an important threshold in its exchange offer for the planned $80 billion merger with U.S. peer Praxair.

** Qatar’s diplomatic crisis is holding up the sale of a shipping company it part owns, one of the latest signs of an emerging corporate fall-out that Doha is facing after Arab countries cut relations in June, sources familiar with the matter said.

** Talks over Air Berlin’s remaining assets will continue over the weekend, with the goal of presenting a proposal to the insolvent German carrier’s creditors on Tuesday, Air Berlin Chief Executive Thomas Winkelmann said.

** A consortium of investors has appointed Citi and Goldman Sachs to sell Euroports, which could be valued at about 1 billion euros ($1.18 billion), sources familiar with the process said.

** E*Trade Financial Corp plans to spend $275 million to acquire a firm that provides custody services and technical support to financial advisers, the discount brokerage firm said on Thursday.

** Activist investor William Ackman, currently battling for board seats at Automatic Data Processing Inc, on Thursday said the human resource software company should buy rival Ceridian, in a move that could woo customers with a better product.

** Russia’s biggest oil company, Rosneft, has agreed to take control of Iraqi Kurdistan’s main oil pipeline, boosting its investment in the autonomous region to $3.5 billion despite Baghdad’s military action sparked by a Kurdish vote for independence.

** South Korea’s Ssangyong Motor Co Ltd said it is reconsidering establishing a joint venture in China due to diplomatic tension between Seoul and Beijing over the deployment of a U.S. missile defence system.

** British Business Secretary Greg Clark will hold talks in Canada to discuss Airbus SE’s plans to buy a majority stake in Bombardier’s C-Series jetliner program aimed at helping it avoid high U.S. import tariffs.

** The world’s largest oil trader Vitol Group is nearing a deal to buy Noble Group’s global oil liquids business, which analysts had valued at about $1 billion, three people familiar with the matter said. (Compiled by Ahmed Farhatha and Uday Sampath in Bengaluru)

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