February 15, 2018 / 11:03 AM / 8 days ago

Deals of the day-Mergers and acquisitions

(Adds Boeing, Booker, Enbridge, Altice, Tribune, Roche)

Feb 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** Petrochemicals company LyondellBasell Industries NV will buy plastic composites maker A. Schulman Inc for $1.24 billion, doubling the size of its plastics business.

** Wyndham Worldwide Corp will sell its European vacation rental business to private equity firm Platinum Equity for about $1.3 billion, the U.S. hotelier said, ending a six- month long review process for the business.

** Standard Life Aberdeen said it had been served notice by Lloyds Banking Group and Scottish Widows on a 109 billion pound ($153 billion) asset management deal, further denting shares in the recently-merged group.

** The 7.4 billion pound ($10.4 billion) hostile bid for British engineering group GKN from Melrose Industries is “low price and high risk” and undervalues the company, GKN Chairman Mike Turner said in a letter to shareholders.

** One of the Sistema conglomerate’s assets that the Russian Direct Investment Fund (RDIF) held as collateral could be sold to a third-party investor, RDIF head said.

** Brazilian state-controlled oil company Petroleo Brasileiro has set a late-March deadline to receive binding proposals for a controlling stake in gas pipeline network Transportadora Associada de Gás (TAG), three people with knowledge of the matter said.

** Qualcomm Inc said on Wednesday it met with Broadcom Ltd earlier in the day to discuss the latter’s revised $121 billion bid, the first time the chipmakers have discussed what would be the technology sector’s largest ever acquisition.

** Popular Inc said its banking unit, Banco Popular de Puerto Rico, would buy certain assets and debt related to Wells Fargo & Co’s auto finance business in Puerto Rico for about $1.7 billion.

** Investors in retailer Booker should reject a “less than compelling” 3.7 billion pounds ($5.2 billion) takeover bid by British market leader Tesco, a top advisory firm said.

** Enbridge Inc, Canada’s biggest pipeline operator, plans to accelerate its divestment program by selling assets valued at about C$8 billion ($6.4 billion) in 2018, more than two times its initial sale target, according to people familiar with the situation.

** Boeing Co is “getting closer” to a deal with Brazilian aircraft maker Embraer, the U.S. plane maker’s Chief Executive Officer Dennis Muilenburg said in an interview with CNBC television on Thursday.

** Portugal’s competition authority said on Thursday it would launch a thorough investigation into the planned takeover by Dutch-based Altice of Media Capital, the owner of the TVI television channel.

** Drugmaker Roche Holding AG said it would buy the rest of the privately held oncology data company Flatiron Health Inc for $1.9 billion to speed up development and delivery of breakthrough medicines for cancer patients. (Compiled by Sonam Rai and Karan Nagarkatti in Bengaluru)

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