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M&A - Asia

Deals of the day-Mergers and acquisitions

(Adds Meetup, Euronext, updates PKN Orlen)

March 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Euronext said it would not make a takeover offer for Spanish stock exchange operator Bolsas y Mercados.

** Social media platform Meetup said that shared-office operator WeWork had sold the company to a group of investors led by AlleyCorp, which funds companies in New York.

** Polish oil refiner PKN Orlen said it is ready to present concessions on its planned Lotos purchase once European Union competition regulators set out their concerns.

** U.S. hedge fund ValueAct Capital has become a major shareholder in Japanese chip and display materials maker JSR Corp with more than a 7% stake, as activist investors are increasingly targeting cash-rich Japanese companies.

** The Russian state has cut its holding in oil giant Rosneft to below a majority stake as part of its deal to buy the group’s Venezuelan assets, announced over the weekend, a source familiar with the details told Reuters.

** Shionogi & Co, creator of the blockbuster cholesterol treatment Crestor, said it would tie up with Ping An Insurance Group Co of China, selling a 2.05% voting stake for 33.53 billion yen ($311 million).

** Spanish bank Banco de Sabadell said it has agreed to sell its depositary unit to France’s BNP Paribas for 115 million euros ($127.40 million).

** Australian conglomerate Wesfarmers Ltd said it would sell a 5.2% stake in Coles Group in a bid to retain a more flexible balance sheet amid uncertainty posed by the coronavirus outbreak.

** Tegna Inc said on Sunday that two potential acquirers had ended deal discussions with the U.S. regional TV station operator following the “market dislocation” fueled by the global coronavirus outbreak.

** Air Canada’s proposed C$720 million acquisition of tour operator Transat A.T. Inc will result in a substantial lessening or prevention of competition, the Canadian Competition Bureau said on Friday. (Compiled by Arundhati Sarkar and Ayanti Bera in Bengaluru)

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