ETF News

Deals of the day-Mergers and acquisitions

(Adds Arkema, New Gold, Iovance Biotherapeutics)

Feb 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Shares in French speciality chemicals group Arkema jumped after a media report said the company was considering potential asset disposals to pre-empt a campaign by activist fund Elliott Management.

** Canada’s New Gold Inc said it has agreed to sell a 46% free cash flow interest in its New Afton mine to Ontario Teachers’ Pension Plan for an upfront cash infusion of $300 million, which the gold miner will use to cut debt.

** Iovance Biotherapeutics Inc is exploring a sale and has held preliminary talks with potential buyers, Bloomberg News reported, citing people familiar with the matter.

** Two investor groups bidding for Thyssenkrupp’s 16 billion euros ($17.4 billion) elevator business are making last-minute tweaks to their binding offers this week and could nudge them higher, people familiar with the matter said.

** Slovenia’s largest bank Nova Ljubljanska Banka (NLB) and the Serbian government have finalised talks over the acquisition of the Komercijalna Banka, country’s second largest lender, a banker said.

** The board of credit investment trust Pollen Street Secured Lending (PSSL) is recommending a takeover offer by U.S. firm Waterfall Asset Management valuing it at around 675 million pounds ($875 million), it said.

** Britain’s biggest retailer Tesco has completed its exit from China with the 275 million pound ($357 million) sale of its joint venture stake to state-run partner China Resources Holdings (CRH).

** Australia’s Healius Ltd said private equity firm Partners Group had offered to acquire the medical centre operator for A$2.12 billion ($1.40 billion).

** French bank Natixis said it had agreed to sell a 29.5% stake in credit insurance company Coface to U.S. company Arch Capital Group, in a deal valued at around 480 million euros ($520 million).

** Intuit said on Monday it would buy privately held personal finance portal Credit Karma in a cash-and-stock deal for about $7.1 billion, as the TurboTax maker seeks to expand further into consumer finance. (Reporting by Dania Nadeem and Bharath Manjesh in Bengaluru)