March 5, 2018 / 11:03 AM / a year ago

Deals of the day-Mergers and acquisitions

(Adds InterContinental Hotels, Bunge, Chevron, Chicago Stock Exchange, Fiat Chrysler; Updates Qualcomm)

March 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** The U.S. government on Sunday ordered Qualcomm Inc to delay its March 6 shareholder meeting, a highly unusual request that will allow time for a national security review of the deal, but that also cast new doubt on Singapore-based Broadcom Ltd’s $117-billion bid for its U.S. semiconductor peer.

** Indonesia’s President Joko Widodo has instructed his administration to complete negotiations over the purchase of a majority stake in Freeport-McMoRan Inc’s local unit by the end of April, a cabinet minister said.

** At least two Chinese companies are preparing bids for industrial conglomerate General Electric’s remaining lighting assets in a potentially $1 billion deal, according to people familiar with the situation.

** Italian publisher GEDI said it had received a binding bid for its 30 percent stake in broadcasting company Persidera but judged it insufficient.

** France’s AXA moved to buy Bermuda-based XL Group for $15.3 billion to create what it said would be a world leader in property and casualty insurance.

** Sligro, a Dutch food retail group, said it will sell its retail arm, which includes 130 grocery stores, to privately owned supermarket Jumbo in a deal worth 400 million euros ($491 million).

** China’s Qingdao Doublestar Co Ltd said its parent had agreed to invest 646.3 billion won ($597.4 million) for a 45 percent stake in South Korea’s troubled Kumho Tire Co Inc.

** Nordic telecom group Telia said it had sold its stake in Azerbaijan mobile operator Azercell, which it co-owns with Turkcell, part of a shift to focus on its main markets in Nordic and Baltic countries.

** Saudi Arabia’s ACWA Power IPO-ACPO.SE has selected JPMorgan and Citigroup to arrange the initial public offering of its shares, which could raise up to $1 billion, sources said.

** Nordic health care company Attendo said it had started to evaluate options, including a potential divestment, for its Finnish healthcare and dental care business ahead of major reforms in the sector.

** Fiat Chrysler Automobiles NV (FCA) is looking to spin off auto-parts business Magneti Marelli to its shareholders via a Milan listing that will not raise money by selling new shares, four sources familiar with the matter said.

** Chevron Corp is exploring options including the sale of a minority stake in its Canadian liquefied natural gas project as it pushes ahead, three people familiar with the matter told Reuters.

** U.S. agricultural investor Continental Grain Co plans to push Bunge Ltd to consider a potential sale, a person familiar with the matter said, after Archer Daniels Midland Co approached Bunge about a takeover.

** InterContinental Hotels Group is close to announcing acquisition of a luxury brand to complement its existing portfolio, its chief executive said.

** London-listed SOCO International said it had ended merger talks with Kuwait Energy IPO-KEC.L after failing to agree terms.

** The Chicago Stock Exchange said it formally terminated its merger agreement with a consortium led by China-based investors following the U.S. Securities and Exchange Commission’s Feb. 15 decision to block the deal.

** Ultra Electronics said it terminated the $234 million acquisition of Sparton Corp due to anti-trust concerns raised by the U.S. Department of Justice.

** Qatar Central Bank is evaluating legal, financial and technical information related to a three-way bank merger that is expected to create the country’s second largest lender, a Qatari newspaper reported.

** China’s Tasly Pharmaceutical Group is planning to list its biopharma unit in Hong Kong to raise about $1 billion, in what is likely to be the largest biotech float in the city this year, people with knowledge of the matter have said.

** Canada’s Saputo Inc said it is discussing plans to sell a milk plant in Victoria state to address concerns from Australia’s competition watchdog about its buyout of Murray Goulburn Co-operative.

** Li Shufu, the founder and main owner of China’s Geely , has no plans to buy further stakes in carmakers after building up a holding of almost 10 percent in Germany’s Daimler, he told a German newspaper. (Compiled by Mrinalini Krothapalli and Arunima Banerjee in Bengaluru)

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