August 3, 2016 / 8:02 PM / 2 years ago

Deals of the day-Mergers and acquisitions

(Adds Wal-Mart, Biogen, Aetna, Time Warner, Titan Cement, LOT, Irving Oil; Updates Fiat, Petrobras)

Aug 3 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Wal-Mart Stores Inc is in talks to buy, a year-old online rival, as part of a multibillion-dollar revamp of its e-commerce division aimed at boosting online sales growth. The online retailer could be worth as much as $3 billion.

** U.S. biotechnology company Biogen Inc has not received any formal expressions of interest from potential acquirers and is not actively soliciting takeover offers, according to a person familiar with the matter.

** Samsung Electronics could buy Fiat Chrysler Automobiles’ parts maker, Magneti Marelli, for more than $3 billion, Bloomberg said in a source-based report.

** TIAA, the financial services firm seeking to expand in internet banking, has been in exclusive negotiations to acquire U.S. online lender EverBank Financial Corp Inc for $2.5 billion, people familiar with the matter said.

** Health insurer Aetna Inc, which is seeking to save its merger with rival Humana, urged a judge to hear its case in the fall and before hearing a second merger of two other insurance companies that antitrust enforcers are trying to stop.

** Brazil’s state-run oil company Petroleo Brasileiro SA could get up to 2.5 billion reais ($768.07 million) from the sale of its liquefied natural gas distributor Liquigás Distribuidora SA, a local daily reported.

Also, Brazil’s Gouvea Vieira family plans to team up with a Brazilian investment fund to bid for control of the BR Distribuidora fuels distribution unit of Petroleo Brasileiro, the family’s most prominent member said.

** Time Warner Inc disclosed a 10 percent stake in video streaming site Hulu on Wednesday, setting its sights on the web TV market. The company, which also owns the Warner Bros movie studio, is paying $583 million for the Hulu stake.

** Allergan Plc said it would sell its Anda Inc distribution business to Israel’s Teva Pharmaceutical Industries Ltd for $500 million, a day after Teva completed its $40.5 billion acquisition of the Dublin-based company’s generics business.

** LafargeHolcim Ltd has agreed to sell to Huaxin Cement Co Ltd most of the non-listed Chinese cement assets of Lafarge China Cement Ltd for an estimated 208 million Swiss francs ($215 million), the Swiss-French cement group said.

** Greece’s Titan Cement said on Wednesday it is buying a stake in Brazilian cement manufacturer Companhia Industrial de Cimento Apodi for about $100 million.

** The European Commission authorized a joint venture in the Netherlands between British telecoms firm Vodafone and U.S. cable operator Liberty Global in exchange for concessions.

** German postal and logistics company Deutsche Post DHL Group said it was selling its long-distance bus unit, Postbus, to market leader Flixbus due to tough competition.

** Sun Life Financial Inc said it will acquire the pension business of FWD Hong Kong in the latest stage of its rapid expansion in Asia.

** Poland is in talks with potential investors from China over selling a stake in the state airline LOT, Deputy Prime Minister Mateusz Morawiecki said on Wednesday.

** Irving Oil said on Wednesday it agreed to buy Ireland’s only refinery from Phillips 66, a deal that will extend the Canadian company’s reach across the Atlantic.

** The founding family of Japan’s Idemitsu Kosan Co has bought a stake in Showa Shell Sekiyu KK, in a bid to block Idemitsu management’s billion-dollar plan to take over the rival oil refiner, the family’s lawyer said. (Compiled by Manish Parashar in Bengaluru)

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