December 13, 2019 / 2:53 PM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Hudson’s Bay, Power Financial Corp)

Dec 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Saks Fifth Avenue owner Hudson’s Bay Co has fallen short in securing enough shareholder support for a C$1.9 billion($1.4 billion) deal to take the department store operator private, people familiar with the matter said.

** Shares of Power Financial Corp (PFC) rose nearly 10%, their biggest jump in more than a decade, after parent Power Corp of Canada (PCC) agreed to buy the rest of the stake it does not currently own.

** Japan’s Hoya Corp said it would make a $1.4 billion counter-bid for NuFlare Technology Inc in what could become a hostile offer for the Toshiba Corp unit, which the electronics conglomerate plans to buy out.

** GIC, Singapore’s sovereign wealth fund, said it had signed a deal to buy a logistics real estate portfolio from funds managed by private-equity firm Apollo Global Management’s affiliates for about 950 million euros ($1 billion).

** Germany’s Delivery Hero agreed a $4 billion deal to buy South Korea’s top food delivery app owner Woowa Brothers, ratcheting up consolidation in the industry as it expands in Asia’s fast-growing but crowded market.

** Telecoms and cable group Altice Europe said on Friday it would sell a 50% stake in its Portuguese fibre network to Morgan Stanley Infrastructure Partners for 2.3 billion euros ($2.5 billion) to help pay down its debt.

** Brazilian state development bank BNDES has informed Petrobras that it is considering selling up to all of the ordinary shares it holds in the state-run oil firm via a secondary offering, according to a securities filing.

$1 = 0.9073 euros Compiled by Saumya Sibi Joseph and Praveen Paramasivam in Bengaluru

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