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Deals of the day -- mergers and acquisitions
January 24, 2012 / 10:26 AM / 6 years ago

Deals of the day -- mergers and acquisitions

Jan 24 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2100 GMT on Tuesday.

** SPX Corp plans to sell its automotive service business to Germany’s Robert Bosch GmbH for $1.15 billion in cash to focus on its fast-growing flow technology segment.

** HSBC Holdings has sold its banking operations in Costa Rica, El Salvador and Honduras to Colombia’s Banco Davivienda S.A. for $801 million, continuing its retreat from countries where it lacks scale.

** U.S.-based Watson Pharmaceuticals Inc said it bought the Australian and South East Asian generic drugs business of India’s Strides Arcolab for A$375 million ($396 million), boosting Strides’ shares by more than 18 percent.

** EnQuest Plc raised its stake in the Kraken oil discovery in the UK North Sea by acquiring a 25 percent interest from Nautical Petroleum for $150 million to $240 million based on the determination of gross reserves.

** Media and publishing company Meredith Corp will buy food information website Allrecipes.com from privately held Reader’s Digest Association Inc in a $175 million deal to expand its online presence.

** Global miner Rio Tinto has raised its stake in Canada’s Ivanhoe Mines, owner of Mongolia’s massive Oyu Tolgoi copper-gold project, to a majority holding but said it had no current plans to buy more shares.

** Industrial distributor MSC Industrial Direct Co Inc said it bought privately held ATS Industrial Supply for an undisclosed sum to expand its presence in the United States.

** Philippine conglomerate San Miguel Corp said it was looking to invest in a nickel mining project in southern Philippines, its first major foray into a mineral resource project.

** French state bank Caisse des Depots (CDC) could lift its stake in transport company Veolia Transdev, jointly held with French utility Veolia Environnement, to 55 percent from 50 percent, French newspaper Les Echos said.

** Denizbank, Franco-Belgian bank Dexia’s Turkish unit, said the process to sell it could be pulled if offers were not high enough.

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