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Deals of the day-Mergers and acquisitions

Published 2018-10-01, 04:00 p/m
Deals of the day-Mergers and acquisitions
CVX
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EQNR
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TKAG
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FREG
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STAGn
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MTO
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RTO
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CASP
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HON
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OCBC
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MPC
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AKRXQ
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HSE
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MEG
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(Updates Husky Energy; Adds Fresenius SE, Thyssenkrupp, Equinor, Stada, Lavazza, Marathon Petroleum)

Oct 1 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Husky Energy Inc's HSE.TO hostile bid for MEG Energy Corp MEG.TO reflects the need for Canadian oil companies to own integrated assets, from production to refineries, to manage the deep price discounts on Canadian crude, Husky's chief executive officer said. Germany's Fresenius SE FREG.DE won a rare court ruling allowing the healthcare group to walk away from its $4.75 billion takeover of Akorn Inc AKRX.O , sparking a more than 50 percent fall in the U.S. generic drugmaker's shares. Singapore's OCBC Bank OCBC.SI said that a planned sale of Hong Kong Life Insurance to investment firm First Origin had been called off after the buyer failed to meet certain conditions before a Sept. 30 deadline. German conglomerate Thyssenkrupp TKAG.DE on Monday defended a landmark deal to split into two as concerns mounted over whether the plans, which will result in a 1 billion euro ($1.2 billion) tax hit, go far enough. Norway's Equinor EQNR.OL confirmed it had agreed to buy Chevron's CVX.N 40 percent stake in the Rosebank oilfield west of Scotland's Shetland islands for an undisclosed sum, as Chevron (NYSE:CVX) shrinks its North Sea presence. Buyout groups Bain and Cinven, which last year took control of German generic drugmaker Stada STAGn.DE , said they planned to buy the remainder of the shares at a higher price and delist the company. Italian coffee maker Lavazza will swallow the coffee business of U.S. food giant Mars Inc to expand its global reach, in a deal worth around $650 million, including debt. India moved to take control of Infrastructure Leasing and Financial Services (IL&FS), whose recent defaults have roiled Indian markets, in a rare move highlighting the extent of the woes at the debt-laden financing and construction firm. Marathon Petroleum Corp (NYSE:MPC) MPC.N said it had completed the acquisition of rival Andeavor ANDV.N , forming the largest independent U.S. refiner by capacity. Honeywell International Inc (NYSE:HON) HON.N , which makes everything from jet engines to thermostats, said it will buy Germany-based Transnorm for about 425 million euros ($492.8 million) from IK Investment Partners to boost its presence in the warehouse automation market. French supermarket group Casino CASP.PA said it had agreed to sell some properties of its Monoprix chain for 565 million euros ($655 million) to reduce debts that have worried investors and led to downgrades in its credit rating. British outsourcing firm Mitie Group Plc MTO.L said it would sell its pest control business to Rentokil Initial Plc RTO.L for 40 million pounds ($52.1 million) cash, as it looks to focus on its core businesses as part of a restructuring.

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