August 15, 2018 / 10:14 AM / 4 months ago

Deals of the day-Mergers and acquisitions

Aug 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:

** Cabot Microelectronics Corp, a maker of chemicals used in semiconductors, said on Wednesday it would buy specialty chemicals company KMG Chemicals Inc in a cash-and-stock deal valued at $1.6 billion.

** Trade Bank of Iraq (TBI) has put on hold plans to buy a commercial bank in Turkey because of the plunge in the Turkish lira, its chairman told Reuters in an interview.

** Investment firms are exploring a buyout of Yum China Holdings Inc, the operator of KFC, Pizza Hut and Taco Bell in the world’s second-largest economy, in what could be one of Asia’s biggest M&A deals this year, sources close to the situation told Reuters.

** Brazilian homebuilder Gafisa SA said in a securities filing it will seek a merger or even a sale of the company.

** A hedge fund owned by the chief executive of Sears Holdings Corp, Edward Lampert, has offered to buy the company’s Kenmore appliances brand for $400 million in cash, Sears said in a regulatory filing.

** Brazilian asset management firm Pátria Investimentos is considering a bid for power generation company Companhia Energética de São Paulo, known as Cesp, one source with knowledge of the matter said.

** U.S. oil and gas producer Diamondback Energy Inc agreed to buy shale rival Energen Corp in an all-stock deal valued at $9.2 billion, giving it an expanded footprint in the country’s largest and fastest growing oil field. (Compiled by Bharath Manjesh in Bengaluru)

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