June 7, 2016 / 8:12 PM / 2 years ago

Deals of the day- Mergers and acquisitions

(Adds HSBC, CK Hutchison Holdings, Orange, William Demant, Thyssengas, F5 Networks; Updates Shanghai Pengxin Group Co, Sumner Redstone, Zimmer Biomet Holdings, Royal Dutch Shell)

June 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:

** Royal Dutch Shell plans to increase cost savings to $4.5 billion following its $54 billion acquisition of BG Group which Chief Executive Officer Ben van Beurden said will make it the best oil company investment, ahead of Exxon Mobil .

** BHP Billiton has agreed to sell its coal assets in Indonesia to its partner, Adaro Energy, following a slump in prices for metallurgical coal.

** Zimmer Biomet Holdings Inc agreed to buy fellow medical device maker LDR Holding Corp for about $1 billion to expand in the market for treating spine disorders.

** The battle over control of Sumner Redstone’s $40 billion media empire moved to a Massachusetts courtroom on Tuesday, where a state judge said he needs time to decide whether to move up the date of a trial questioning the 93-year-old’s mental competence.

** Lotte Chemical Corp is bidding for U.S. chemicals maker Axiall Corp and Hanwha Chemical Corp flagged a likely U.S. deal, as cash-flush South Korean chemicals firms target acquisitions in a hunt for new revenue streams.

** Verizon Communications Inc plans to submit a second-round bid of around $3 billion for Yahoo Inc’s core internet business, the Wall Street Journal reported, citing people familiar with the matter.

** Schindler has bought a stake in a Chinese lift maker as the Swiss company tries to close the gap on rivals Kone and Otis in the world’s biggest market for elevators.

** Britain’s competition watchdog said it would refer the proposed merger of ICAP Plc’s global hybrid voice broking business with Tullett Prebon Plc for an in-depth phase 2 probe unless the companies were able to address some of its concerns.

** British insurer esure Group Plc said it was considering strategic options, including a potential demerger for its price comparison website, Gocompare.com, and that it had appointed a new chief executive for the website.

** Gameloft’s founding Guillemot family said it would sell its stake to Vivendi, following the unsolicited bid from the media giant.

** RIT Capital Partners Plc, a British investment trust chaired by financier Jacob Rothschild, said it did not intend to make an offer for Alliance Trust Plc.

** Shanghai Pengxin Group Co is in talks to buy control of Brazilian mid-sized lender Banco Indusval & Partners SA, as the Chinese conglomerate aims to expand beyond commodities in Latin America’s largest economy, three sources with direct knowledge of the matter said.

** Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co has received an offer from a fund managed by a Dubai-based investment bank to buy its investment in Spanish clothing retailer Blanco for 350 million Saudi riyals ($93 million), it said in a bourse statement.

** The famed Los Angeles mansion of Hugh Hefner, founder of the Playboy empire, is under contract to be sold to private equity executive Daren Metropoulos, a Playboy Enterprises spokesman said on Monday.

** Brazil’s competition watchdog is due to reveal on Wednesday whether HSBC can sell its Brazilian business to Banco Bradesco, a decision with big implications for the British bank’s Chief Executive Stuart Gulliver and its shareholders.

** CK Hutchison Holdings has offered concessions in a bid to secure EU antitrust approval for its plan to merge its Italian mobile business with that of Vimpelcom, the European Commission said on Tuesday.

** Orange Chief Executive Officer Stephane Richard said on Tuesday that he didn’t see an opportunity for a consolidation of the French telecoms market in the short term after the failure of the talks with Bouygues Telecom.

** Hearing aid maker William Demant is looking for more retail acquisitions to increase control over the sale of its products and fight competition from discount chains such as Costco.

** Macquarie-owned Thyssengas has attracted five binding bids as the auction of the German gas grid is drawing to a close, people familiar with the matter said.

** F5 Networks Inc, a U.S. computer networking company whose technology helps speed up data center traffic, has hired investment bank Goldman Sachs Group Inc following takeover approaches, people familiar with the matter said. (Compiled by Amrutha Penumudi and Arathy S Nair in Bengaluru)

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