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Deals of the day -- mergers and acquisitions
April 18, 2012 / 9:25 AM / 6 years ago

Deals of the day -- mergers and acquisitions

April 18 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Wednesday:

** Nestle, the world’s biggest food group, is closing in on a deal to buy Pfizer’s infant nutrition business for up to $10 billion to boost its business in China and extend its lead in the world of formula milk for babies, sources familiar with the matter said on Wednesday.

** Commodities trader Glencore signed a $6 billion syndicated loan backing its $90 billion merger with miner Xstrata on Tuesday after raising nearly $11 billion in syndication, banking sources said on Wednesday.

** SXC Health Solutions Corp said it will buy rival pharmacy benefit manager Catalyst Health Solutions Inc for $4.4 billion as it seeks to keep pace in the rapidly consolidating market for managing Americans’ prescriptions.

** Swiss drugmaker Roche said on Wednesday it would not extend a $6.8 billion hostile offer for genetic specialist Illumina as the U.S. group’s shareholders blocked its move to appoint new directors.

** Canadian convenience-store company Alimentation Couche-Tard Inc has struck a deal to buy Norwegian company Statoil Fuel and Retail ASA for 15.9 billion crowns ($2.8 billion) to gain a foothold in Europe’s top-performing economies.

** Billionaire investor Carl Icahn cut his stake in Commercial Metals Co three months after dropping a $1.73 billion buyout offer.

** Westfield Group, the world’s second-largest shopping mall owner, has agreed to sell eight U.S. malls for $1.15 billion as it raises capital to redevelop its other lucrative properties.

** Regional cable operator Knology Inc will be bought by a unit of Avista Capital Partners for about $750 million plus an equal amount in debt, as the private equity firm adds cable assets in southeastern and midwestern United States.

** Private equity funds Affinity Equity Partners, MBK Partners and a listed retail unit of Lotte Group are among prospective bidders for an around $744 million stake in Korean water purifier company Woongjin Coway, sources with direct knowledge of the matter told Reuters.

** Australia’s Macquarie Group and Japan’s Nikko Asset Management are among the companies interested in buying ING’s Asian asset management business, sources said, in a deal that could be worth around $500-600 million.

** Baytex Energy Corp BTE.TO said its U.S. subsidiary has agreed to sell its non-operated interests in the Williston Basin in North Dakota to a unit of Magnum Hunter Resources MHR.N for $311 million.

** Cameron International Corp said it will buy the drilling equipment business of TTS Energy division from Norway’s TTS Group ASA in an all-cash deal valued at $270 million.

** Japanese manufacturer Nitto Denko said on Wednesday it would buy Turkish industrial adhesive tape maker Bento for $100 million.

** Italy’s state-owned investment fund Cassa Depositi e Prestiti (CDP) is considering the idea of buying a stake in gas transport group Snam under certain conditions, the CDP Chief Executive said on Wednesday.

** German books-to-perfumes retailer Douglas has not been in contact with LVMH, a source said, after a report that the French luxury goods group was eyeing a deal with the German group.

** Tata Communications Ltd has secured bank financing ahead of an April 19 deadline to decide whether to make a bid for London-listed Cable & Wireless Worldwide, Thomson Reuters publication Basis Point reported on Wednesday.

** Sovereign wealth fund Government of Singapore Investment Corp has begun talks with India’s GVK Group to buy a stake in one of its units that owns Australia’s Hancock Coal, the Financial Express newspaper reported on Wednesday, citing two people familiar with the development.

** ConAgra Foods Inc on Tuesday said it agreed to buy breakfast sandwich and sausage maker Odom’s Tennessee Pride, the latest in a series of deals aimed at expanding the company’s reach.

** Swiss energy company Alpiq, hit hard by Switzerland’s decision to phase out nuclear power, is close to a disposal laid out in a revamp of the business last year, three people close to the matter said.

** Spanish construction company ACS sold a 3.7 percent stake in Iberdrola on Wednesday, ditching its strategy of gaining more control over the utility to focus instead on cutting heavy debt.

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