March 3, 2010 / 6:08 AM / 10 years ago

UPDATE 2-Deals of the day -- mergers and acquisitions

(Adds RBS, SouthWest, PNOC, Volga Resources, updates LyondellBasell)

March 3 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1430 GMT on Wednesday.

(For Reuters columns on deals, click on [DEALTALK/]

** India’s Reliance Industries (RELI.BO) does not plan to raise its bid for bankrupt petrochemicals firm LyondellBasell [ACCEIN.UL], a source familiar with the matter said.

To read more, double click on [ID:nBMB009954]

** Pfizer Inc (PFE.N) is set to present a nearly $4 billion offer for German generic-drug maker Ratiopharm GmbH this week, competing against rival bids from Teva Pharmaceutical Industries Ltd (TEVA.TA) and Actavis, sources familiar with the situation said. [ID:nN02189931]

** Japan’s Mitsubishi Motors Corp (7211.T) and France’s PSA Peugeot Citroen (PEUP.PA) said they have decided against forming a capital alliance but would continue talking towards expanded business ties. [ID:nTOE622063]

** Investment fund Elliott Associates offered to buy business software maker Novell Inc NOVL.O for $2 billion, sending its shares up 28 percent as investors hoped for a better bid. [ID:nSGE6210LD]

** Part-nationalised Royal Bank of Scotland (RBS.L) has set an early April deadline for potential buyers of its payment processing arm and more than 300 bank branches, people familiar with the matter said. [ID:nLDE6220OA]

** Canadian Imperial Bank of Commerce (CM.TO) said it acquired a 22.5 percent stake in Bermuda’s Bank of N.T. Butterfield & Son Ltd. in a deal that expands its footprint in the Caribbean region. [ID:nN02166990]

** Health and social care provider Care UK Plc (CUK.L) said private-equity investor Bridgepoint Capital Ltd made a recommended offer to buy the company for about 281 million pounds ($421.7 million) in cash. [ID:nSGE6220CB]

** SouthWest Water Co SWWC.O said it agreed to be acquired by institutional investors for $11 per share, or about $275 million, in cash, taking the water treatment company private. [ID:nSGE6220G9]

** The Philippines will sell state-run PNOC Exploration Corp’s PECB.PS stake in the Malampaya natural gas project before selling 60 percent of the firm to speed up revenue raising, finance officials said. [ID:nSGE6220EG]

** French biotech NicOx (NCOX.PA) said it had found a new partner for its candidate glaucoma eye drug NCX 116, sealing an exclusive worldwide licensing deal with Bausch & Lomb BOLEL.PK that could yield as much as $169.5 million in milestone payments. [ID: nLDE622031]

** British healthcare firm Assura Group (AGRP.L) sold a 75.1 percent interest in its medical services business to a unit of the Virgin Group — Virgin Healthcare Holdings — for 4 million pounds ($6 million). [ID:nSGE6220AQ]

** Volga Resources, the fund controlled by oil trader Gennady Timchenko, said it had agreed to buy a 25 percent stake in oil services company Geotech Oil Services for an undisclosed sum. [ID:nLDE6221H8]

** Slovenia’s second largest bank Nova KBM NKBM.LJ will take over Serbian state-owned bank Credy banka CYBN.BEL on March 5, NKBM said in a statement. [ID:nLDE6220GC] (Compiled by Tina Kwan in Singapore and Abhiram Nandakumar in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below