January 10, 2017 / 11:30 AM / a year ago

Deals of the day-Mergers and acquisitions

Jan 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Tuesday:

** China’s Alibaba Group Holding Ltd is leading a $2.6 billion bid to privative Intime Retail Group Co Ltd in a move to digitize brick-and-mortar department stores while growth in online sales begins to slow.

** Telecom Italia has no intention of merging its TIM Participações SA unit with Brazilian wireless carrier Oi SA, a spokesman for Telecom Italia said.

** China National Chemical Corp (ChemChina) and Swiss pesticides and seeds group Syngenta AG have proposed remedies to the European Union’s competition watchdog to address concerns over their $43 billion merger agreement.

** Japan’s Mitsubishi Rayon acquired a U.S. carbon fiber production plant from SGL Carbon for an undisclosed price to meet growing demand for composite materials for wind turbine blades and cars.

** Spain has no immediate plans to sell shares in majority state-owned airport operator Aena, Public Works Minister Inigo de la Serna said, ruling out a repeat of 2015’s lucrative stake sale over the coming months.

** French cosmetics group L’Oreal <OREP.PA >is acquiring three specialized skincare brands - CeraVe, AcneFree and Ambi - from Canada’s Valeant Pharmaceuticals International for $1.3 billion in cash to expand into one of the fastest growing areas of the beauty industry.

** Canada’s Valeant Pharmaceuticals International Inc said its affiliate will sell its Dendreon cancer business to China’s Sanpower Group Co Ltd for $819.9 million, as the drugmaker continues to shed its non-core assets to repay debt.

** Newspaper group Trinity Mirror said it was in early talks about investing in a new company comprising assets owned by Northern & Shell, Richard Desmond’s group that owns the Daily Express and Daily Star titles.

** Japan’s Takeda Pharmaceutical Co flagged its appetite for fresh acquisitions to bolster its drug portfolio after agreeing on Monday to acquire cancer drug maker Ariad Pharmaceuticals in a $5.20 billion deal.

** Canadian apparel maker Gildan Activewear Inc has won a bankruptcy auction for U.S. fashion retailer American Apparel LLC after raising its offer to around $88 million, a person familiar with the matter said.

** Yahoo Inc said Monday that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc.

** Private-equity firm Blackstone Group LP is no longer looking at buying a $5 billion stake in Energy Transfer Partners, a source familiar with the matter confirmed.

** Brazilian food processor BRF SA and Qatar’s sovereign wealth fund agreed to buy the operations of Turkish poultry producer Banvit in a joint venture, BRF said in a securities filing.

** Indian online real estate services providers PropTiger.com and Housing.com will merge to create what the companies said would be the biggest player in the segment, accelerating a consolidation in the sector. (Compiled by Laharee Chatterjee in Bengaluru)

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