August 9, 2018 / 10:08 AM / 11 days ago

Deals of the day-Mergers and acquisitions

(Adds Nevsun, Cigna, Tribune, Deutsche Telekom)

Aug 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday:

** Canadian miner Nevsun Resources Ltd urged its shareholders to reject a hostile C$1.4 billion ($1.07 billion) offer from rival Lundin Mining Corp, and said the board was evaluating other potential alternatives.

** Activist investor Carl Icahn fired the latest salvo against Cigna Corp’s deal to buy pharmacy benefit manager Express Scripts, saying drug rebates that PBMs receive from drugmakers will ultimately be eliminated, dealing a blow to the industry.

** Tribune Media Co has terminated its $3.9 billion deal to be bought by Sinclair Broadcast Group, the company said on Thursday, after regulators objected to the acquisition that had received support from U.S. President Donald Trump.

** Deutsche Telekom said it expects to get initial feedback in late August from U.S. regulators on the proposed takeover of Sprint Corp by its T-Mobile unit, expressing confidence that the $26 billion deal will go through.

** Israel’s Aeronautics, which makes unmanned aerial vehicles for military use, received an acquisition offer valuing it at 430 million shekels ($117 million) from state-owned Rafael Advanced Defense Systems and businessman Avihai Stolero.

** Danish energy group Orsted has agreed to buy U.S. onshore wind farm developer Lincoln Clean Energy (LCE) in a $580 million deal, aiming to gain a foothold in what it sees as a key growth market.

** Australia’s Suncorp Group is selling its life insurance division to Dai-ichi Life Holdings for $540 million, making the Japanese firm Australia’s biggest in a sector that domestic companies are scrambling to quit.

** Data and analytics company Dun & Bradstreet Corp said it would be acquired by a group of investors led by CC Capital, Cannae Holdings and funds affiliated with Thomas H. Lee Partners LP, for $5.38 billion in cash.

** Private firm Danusa Tambang Nusantara has agreed to buy the Martabe gold mine in Indonesia from EMR Capital and its partners for $1.21 billion, including assumed debt, EMR said.

** Drug store chain Rite Aid Corp and U.S. grocer Albertsons Companies Inc agreed to terminate their merger agreement, the companies said, a little over 10 days after a shareholder advisory firm opposed the deal. (Compiled by Saumya Sibi Joseph in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below