April 2, 2018 / 10:21 AM / 23 days ago

Deals of the day-Mergers and acquisitions

(Adds Elliott, COFCO Property, ReNew Power, General Electric; Updates Transcontinental)

April 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: ** General Electric Co’s healthcare unit said it would sell its information technology business to private equity firm Veritas Capital for $1.05 billion in cash as it sharpens its focus on smart diagnostics and connected devices. ** ReNew Power, backed by Goldman Sachs and Canada Pension Plan Investment Board (CPPIB), said it has acquired Ostro Energy Private Ltd, backed by London-based Actis LLP, in one of India’s biggest renewable energy deals.

** Hedge fund Elliott Management Corp disclosed a 10.3 percent stake in Commvault Systems Inc and nominated four directors to the data software developer’s board. ** Joy City Property Ltd said COFCO Property Group Co Ltd would buy a controlling 64.18 percent stake in the company from Vibrant Oak Ltd for 14.76 billion yuan ($2.35 billion), as part of a reorganisation of COFCO Corp.

** Israeli drugmaker Compugen Ltd, said it had agreed an exclusive licensing deal with a unit of AstraZeneca to develop antibody products to treat cancer, which could be worth more than $200 million. ** Transcontinental Inc said it would buy the U.S. packaging business of Coveris Holdings S.A. for $1.32 billion (C$1.70 billion) as the Canadian publisher looks to join other top North American companies in the flexible packaging space. ** Chinese e-commerce giant Alibaba Group Holding Ltd said it would buy the remaining shares of Ele.me, a major platform in China’s food delivery market, as it competes with Tencent Holdings Ltd services for offline consumers. ** U.S. retailer Walmart Inc is in early-stage talks with health insurer Humana Inc about developing closer ties, with the acquisition of Humana being discussed as a possibility, people familiar with the matter said on Thursday. ** Intercontinental Exchange Inc’s New York Stock Exchange (NYSE) is in talks to buy the Chicago Stock Exchange (CHX), the Wall Street Journal reported on Friday, a month-and-a-half after U.S. regulators blocked the sale of CHX to China-based investors. ** United Arab Emirates-based Tabarak Investment has been granted more time to secure the financing it needs to buy Qatar’s Commercial Bank’s 40 percent stake in Abu Dhabi-listed United Arab Bank, sources said on Monday. (Compiled by Vibhuti Sharma and Akankshita Mukhopadhyay in Bengaluru)

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