August 14, 2017 / 10:22 AM / a year ago

Deals of the day-Mergers and acquisitions

Aug 14 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday:

** A unit of Chinese conglomerate Fosun Group’s pharmaceutical business said it is bidding for a stake in U.S. speciality drugmaker Arbor Pharmaceuticals LLC.

** British mail delivery company DX Group said talks for a potential merger with John Menzies Plc’s distribution unit had been terminated due to unsuitable terms.

** Shares in French food group Danone rose on Monday after the New York Post newspaper said in a report over the weekend that Danone could be a takeover target.

** Stada warned that even fewer retail investors have so far tendered their shares in the planned takeover of the German generic drugmaker than at the same stage during the previous, failed attempt to get a deal done.

** German energy group RWE is considering all options in the planned sale of E.ON’s 46.65 percent stake in Uniper, its chief executive said, fuelling expectations that the group might submit a bid.

** SoundCloud, the world’s most popular streaming music app, said it received new funding on Friday, insulating it from potentially running out of cash this year.

** Cruise operator Genting Hong Kong Ltd said it, Apollo Funds and TPG Fund have agreed to sell an aggregate 6.58 percent of shares in Norwegian Cruise Line Holdings Ltd with market value of $428 million to third party investors.

** Chinese news aggregator Toutiao, backed by Sequoia Capital and CCB International, is raising at least $2 billion at a valuation of over $20 billion in its latest funding round, people familiar with the matter told Reuters. ** India’s Tata Steel Ltd has received regulatory approval for a deal to cut its UK pension scheme liabilities, it said on Friday, paving the way for a possible merger between its British and European steel businesses and those of Germany’s Thyssenkrupp.

** Kroton Educacional SA will seek to expand in Brazilian regions where it does not yet operate and in onsite campuses, as the country’s No. 1 for-profit education firm aims to resume growth following antitrust rejection of a local takeover. (Compiled by Roopal Verma in Bengaluru)

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