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Deals of the day-Mergers and acquisitions

Published 2018-05-08, 04:00 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Capital One Financial, Walmart (NYSE:WMT), Kinder Morgan , Nevsun, BNDES, Norwegian Air, Gorenje , CYBC)

May 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Takeda Pharmaceutical 4502.T agreed to buy London-listed Shire SHP.L for 45.3 billion pounds ($61.50 billion) on Tuesday, marking the biggest deal yet in a wave of transactions sweeping the drugs industry. U.S. group Comcast CMCSA.O stepped up its push to buy European pay-TV group Sky SKYB.L , seeking regulatory and political approval even as it manoeuvres for a broader deal with bid rival, Rupert Murdoch's Fox FOXA.O . Shares of Twenty-First Century Fox Inc FOXA.O rose as much as 3.4 percent after Reuters reported that cable operator Comcast Corp CMCSA.O was preparing an all-cash bid to rival a deal agreed late last year with Walt Disney Co DIS.N . Walmart WMT.N is likely to announce its much-anticipated deal to buy a controlling stake in Indian e-commerce player Flipkart before the end of this week, two sources said, in what is likely to be the U.S. retail giant's biggest acquisition of a business. In its final push, the U.S. Justice Department has urged a federal judge to stop AT&T Inc (NYSE:T) T.N , which owns biggest pay TV provider DirecTV, from buying movie and TV show maker Time Warner Inc (NYSE:TWX) TWX.N , or at least cut a big chunk out of the proposed $85 billion transaction. Carl Icahn and Darwin Deason, shareholders in Xerox Corp (NYSE:XRX) XRX.N who oppose an agreed deal with Fujifilm Holdings 4901.T , said they would consider an all-cash bid of at least $40 per share - a 43 percent premium to the Japanese firm's offer. Royal Dutch Shell Plc's Shell Gas B.V. RDSa.L unit said it was selling its entire stake in Canadian Natural Resources Ltd CNQ.TO for $3.3 billion. South Korea's largest telecom firm, SK Telecom Co Ltd 017670.KS , said it and a partner had decided to wholly buy domestic security systems company ADT Caps for about 1.28 trillion won ($1.2 billion). Freeport-McMoRan Inc's FCX.N divestment of a controlling interest in Indonesia's Grasberg mine is still planned for 2018, even though the price and some contract terms are still to be agreed, the head of state mining holding company PT Inalum said. Canadian miners Lundin Mining Corp LUN.TO and Euro Sun Mining Inc ESM.TO disclosed an offer made earlier to buy base metals company Nevsun Resources Ltd NSU.TO , which rejected the C$1.5 billion ($1.16 billion) proposal. Nevsun Resources NSU.TO said its board of directors had unanimously rejected a non-binding, unsolicited takeover proposal from Lundin Mining Corp LUN.TO and Euro Sun Mining ESM.TO , saying it was too low and had a "problematic structure". Nevsun Resources' NSU.TO second-biggest shareholder said it is "positively inclined" to an unsolicited C$1.5 billion ($1.16 billion) takeover proposal for the Canadian copper-zinc miner Canadian landlord NorthWest Healthcare Properties REIT NWH_u.TO announced a $312 million strategic investment in Australian hospital operator Healthscope HSO.AX as part of a plan to buy its real estate amid a private equity takeover bid for the firm. Capital One Financial Corp (NYSE:COF) COF.N said it sold around $17 billion of first- and second-lien mortgages to DLJ Mortgage, a unit of Credit Suisse CSGN.S . Walmart Inc's WMT.N online grocery delivery partnerships with ride-hailing services Uber and Lyft have ended, according to two sources, a potential setback for the retailer's ambitions to challenge Amazon.com Inc AMZN.O head-on with speedy delivery of groceries to people's homes. Israel's Avgol Industries AVGL.TA said its shareholders HFH International and Leumi Partners are negotiating the sale of their majority stake in the non-woven fabrics producer. E.ON EONGn.DE can realise plans to integrate rival Innogy IGY.DE by acquiring a 76.8 percent from RWE RWEG.DE , the group's Chief Financial Officer Marc Spieker said, lowering the chances of a higher follow-up offer in a potential squeeze-out. Alibaba (NYSE:BABA) Group BABA.N has bought the entire share capital of Rocket Internet's RKET.DE South Asian ecommerce platform Daraz Group, Rocket Internet said. British entrepreneur Richard Branson, founder of the Virgin business empire, is reviewing a 1.6 billion pounds ($2.2 billion) takeover bid that could turn the fledgling lender he founded almost 25 years ago into one of Britain's biggest banks. Activist investor ValueAct Capital Partners LP has built a roughly $1.2 billion stake in Citigroup Inc (NYSE:C) C.N , the Wall Street Journal reported. Cohu Inc COHU.O will buy rival Xcerra Corp XCRA.O for about $796 million, the semiconductor testing company said on Tuesday, two months after a U.S. security panel blocked Xcerra's sale to a Chinese state-backed fund. U.S. private equity firm Apollo Global Management APO.N has dropped plans to make a takeover bid for British bus and rail operator FirstGroup FGP.L , after having two approaches turned down. British Columbia Investment Management Corp, one of Canada's largest pension fund managers, recently boosted its stake in TransMountain pipeline operator Kinder Morgan Inc (NYSE:KMI) KMI.N , the Financial Post reported, citing regulatory filings. British regulators have launched an in-depth investigation into the tie-up between the retail power unit of SSE Plc SSE.L and Npower, owned by Germany's Innogy IGY.DE , saying it may reduce competition and increase prices for some households. Cohu Inc COHU.O will buy rival Xcerra Corp XCRA.O for about $796 million, the semiconductor testing company said, two months after a U.S. security panel blocked Xcerra's sale to a Chinese state-backed fund. Pencil maker Dixon Ticonderoga, which is owned by Italian group Fila FILA.MI , agreed to buy U.S.-based school art and craft products supplier Pacon Group for $340 million. Germany's Uniper UN01.DE denied trying to undermine a deal that will make Finnish utility Fortum FORTUM.HE its top investor, and said it had been open and transparent during the process. Norwegian Air NWC.OL could potentially be sold to IAG ICAG.L or another bidder if the price was right, but offers made so far have been too low, the budget carrier's top office holders said. Brazilian development bank BNDES is in talks with four companies interested in acquiring the operation of Viracopos airport, the bank's chief executive officer said. Slovenian household appliances maker Gorenje GORE.LJ has received three binding takeover bids, all from Asian firms, the company said in a statement. British bank CYBG CYBGC.L would have to hike its bid for rival lender Virgin Money VM.L significantly if investors are going to consider a deal, a top ten investor in the takeover target told.

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