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Deals of the day- Mergers and acquisitions
October 27, 2017 / 10:30 AM / a month ago

Deals of the day- Mergers and acquisitions

(Adds Akzo Nobel, Wari, Ford, Promsvyazbank, Cargill; Updates Saputo)

Oct 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2010 GMT on Friday:

** Swiss specialty chemicals maker Clariant and U.S. group Huntsman abandoned their $20 billion merger, notching a win for activist investors who fought the deal for months on the grounds it would destroy shareholder value.

** China’s HNA Group Co Ltd is in talks to buy a controlling stake in China Dangdang Inc in a deal that could value the online marketplace at over $1 billion, two people with direct knowledge of the matter told Reuters.

** Dutch paints and coatings giant Akzo Nobel NV has approached U.S. rival Axalta Coating Systems Ltd to talk about a possible merger that would create a global coatings group, according to sources familiar with the matter.

** Senegalese money transfer firm Wari said it was suing Millicom International Cellular after the Luxembourg-based company cancelled a deal to sell its Senegal subsidiary Tigo to Wari.

** Russian banks Promsvyazbank and Vozrozhdenie have put their planned merger on hold but may come back to the idea next year, Promsvyazbank said.

** Indian oil firms are in talks with state-run Abu Dhabi National Oil Co (Adnoc) to acquire a stake in its ADMA-OPCO offshore oil concession when it comes up in 2018, Indian officials said.

** Ford Motor Co’s Argo AI unit, which develops software for self-driving vehicles, is buying Princeton Lightwave, one of the oldest makers of lidar sensing devices that use laser light to help autonomous cars “see” nearby objects and obstacles.

** Cargill Inc’s Brazilian unit has reached a deal to acquire a domestic maker of animal feed products, an executive said.

** German consumer goods maker Henkel has agreed to buy Zotos International from Japan’s Shiseido Company for $485 million to further grow its footprint in the U.S. professional hair-care sector.

** Canada’s biggest cheesemaker Saputo Inc has agreed to buy debt-ridden Murray Goulburn Co-operative for up to $490 million, becoming Australia’s top milk producer and expanding its access to China.

** Itaú Unibanco Holding SA said on Thursday it has received final central bank approval to buy Citigroup’s retail banking unit in Brazil and the deal will be completed by Oct. 31. (Compiled by Taenaz Shakir and Akankshita Mukhopadhyay in Bengaluru)

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