October 3, 2019 / 10:32 AM / 8 months ago

Deals of the day-Mergers and acquisitions

(Adds LSE, Embraer, Monte dei Paschi di Siena, Mechel)

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

** Some London Stock Exchange investors have told Hong Kong Exchanges and Clearing (HKEX) that any bid must contain more cash and be up to 20% higher to persuade them to engage, three shareholders and a banking source close to the deal said.

** Brazilian planemaker Embraer has delayed its expected timeline for the closing of a major deal with Boeing to early 2020, according to a securities filing.

** Italy is in talks with the European Commission over a plan to rid state-owned Monte dei Paschi di Siena of around two thirds of its soured loans to pave the way for a sale of the bank, a source with direct knowledge of the situation said.

** Brazilian telecom carrier Oi SA may consider selling its mobile operation if it gets attractive offers, Chief Operating Officer Rodrigo Abreu told Reuters, following reports of interest from its largest rivals.

** Brazil medical diagnostic company Fleury SA bought smaller rival Grupo Diagmax, with six diagnostic clinics in the northeastern city of Recife, for 80.4 million reais ($19.47 million), according to a securities filing.

** Australian agribusiness company Webster Ltd said it has signed a deal for a A$854 million ($572.52 million) takeover by shareholder PSP Investments, one of Canada’s biggest pension funds.

** Japan’s Inpex Corp, Sojitz Corp and Japan Oil, Gas and Minerals National Corp (JOGMEC) said they exited the Frade oil field in Brazil by selling their stakes to partner PetroRio S.A..

** Tokio Marine Holdings Inc will buy insurer Pure Group for about $3.1 billion, it said, marking its fourth sizable acquisition in the United States in a little over a decade.

** A buyer group seeking to take Swiss utility Alpiq private holds 89.94% of the shares, shy of the level necessary to force a squeezeout of minority shareholders who have criticized the 70 Swiss franc per share tender offer.

** Russian steel and coal producer Mechel agreed to pay around 30 billion roubles ($461 million) for Gazprombank’s 34% stake in the Elga coal project, two sources familiar with the matter told Reuters.

** Norway’s Equinor has agreed to sell a 25% stake in Germany’s Arkona offshore wind farm for around 500 million euros ($547.85 million), almost doubling the value of its investment, the company said. (Compiled by Amal S and Nivedita Balu in Bengaluru)

Nuestros Estándares:Los principios Thomson Reuters
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