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Deals of the day- Mergers and acquisitions

Published 2016-09-12, 04:07 p/m
© Reuters.  Deals of the day- Mergers and acquisitions

(Adds SolarCity, Repsol, IEnova; Updates Potash)

Sept 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Canadian fertilizer producers Potash Corp of Saskatchewan Inc POT.TO and Agrium Inc AGU.TO agreed to combine to navigate a severe industry slump by boosting efficiency and cutting costs, but the new company's potential pricing power may attract tough regulatory scrutiny. German industrial gases group Linde LING.DE and U.S. rival Praxair (NYSE:PX) PX.N have ended talks to create a $60-billion-plus market leader, they said on Monday, after failing to agree where to locate key activities and who would run the business. Canadian business software maker OpenText Corp OTC.TO said it agreed to buy Dell-EMC's enterprise content division for $1.62 billion as it looks to expand its services to larger businesses. Buyout firms Centerbridge Partners LP and Friedman Fleischer & Lowe LLC (FFL) have teamed up to buy U.S. health insurer Highmark Health's vision unit for close to $2 billion, according to people familiar with the matter. Vodafone Group (LON:VOD) Plc VOD.O could benefit from a merger with Liberty Global Plc LBTYA.O , according to a report in Barron's, which added the British telecommunications company's shares could also be poised for a 33 percent rise. South Korean chemicals and battery maker LG Chem 051910.KS said it plans to acquire pharmaceutical affiliate LG Life Sciences 068870.KS for about 1.1 trillion won ($989.56 million) to make its bio business a new growth engine. GlaxoSmithKline GSK.L is to sell its portfolio of anaesthetic drugs to South Africa's Aspen Pharmacare APNJ.J for up to 280 million pounds ($372 million) as part of a drive by the British drugmaker to focus on core therapy areas. U.S. private equity firm HarbourVest Partners said it was taking advantage of a weaker pound to make a $1.35 billion bid for smaller British rival SVG Capital SVI.L without the backing of its target's board. Solar panel installer SolarCity Corp SCTY.O , which is being bought by Tesla Motors Inc TSLA.O , on Monday said it had raised $305 million by selling the future cash flows for a portfolio of solar projects to a fund advised by billionaire investor George Soros' hedge fund. Spain's Repsol REP.MC and Criteria Caixa have agreed a 3.8 billion euro ($4.27 billion) sale of a combined 20 percent stake in Gas Natural GAS.MC to U.S. fund Global Insfrastructure Partners (GIP). European Union antitrust regulators do not expect Chinese household appliances company Midea Group's 000333.SZ bid for German industrial robot maker Kuka KU2G.DE to pose any competition issues and will do a routine check before approving the deal. Mexico's Infraestructura Energetica Nova (IEnova) IENOVA.MX aims to raise more than $1 billion in a secondary share offering in October, three people with knowledge of the matter said, in what would be one of the biggest Mexicanequity placements in recent years. Georgia's largest retail bank TBC Bank Group TBCG.L said on Monday it would buy Societe Generale's SOGN.PA 93.64 percent stake in JSC Bank Republic for 103 million pounds ($136.8 million), creating the largest bank in Georgia by loans and deposits. A consortium of Hyundai Department Store Co Ltd 069960.KS and Hyundai Home Shopping Network Corp 057050.KS has been shortlisted to buy South Korean kitchen appliance maker and water purifier rental firm Tongyang Magic. Associated British Foods ABF.L (ABF) plans to sell its cane sugar business in China to a consortium led by Nanning Sugar Industry Co Ltd 000911.SZ , in a partial exit from the world's No. 2 sugar market after more than 20 years. Norway's Telenor TEL.OL put up for sale an 8.1 percent stake in Amsterdam-based telecoms operator Vimpelcom VIP.O , worth about $555 million at Friday's closing price, and said buyers would be sought through a book-building process. Shares in German lighting group Osram OSRn.DE jumped more than 6 percent on Monday as traders cited a report that Siemens SIEGn.DE was weighing selling its 17 percent stake in its former unit. Horizon Pharma Plc HZNP.O said it would buy Raptor Pharmaceutical Corp RPTP.O for nearly $800 million to bolster its portfolio of drugs to treat rare diseases and reduce its dependence on the primary care market. Swiss Re's SRENH.S specialist unit Admin Re is in discussions with a number of sellers of closed life books, some of them "significant" in size, Chief Financial Officer David Cole said on Monday. South Korean power utility KEPCO 015760.KS is in talks with Japan's Toshiba and France's Engie about buying a stake in the Toshiba-Engie British nuclear joint venture NuGen, a source familiar with the situation told Reuters on Monday. Poste Italiane PST.MI is considering making a joint bid with Anima Holding ANIM.MI and state-controlledbank Cassa Depositi e Prestiti for UniCredit's CRDI.MI asset manager Pioneer Investments, several sources close to the matter said on Monday. The Lloyd's of London SOLYD.UL insurance market has a queue of companies wanting to join, Chairman John Nelson said on Monday, even as Britain's vote to leave the European Union casts doubt over its European business. India's Tata Steel Ltd TISC.NS reported on Monday a $477 million consolidated first-quarter net loss as it sold a business in Europe, and said talks continued for a proposed partnership to run its European plants. Activist shareholder Starboard Value LP on Monday disclosed a 4.6 percent stake in Perrigo Co (NYSE:PRGO) Plc PRGO.N and said the Dublin-based drugmaker must make immediate improvements to turn around its sagging stock price. The 90-year-old founder of leading Italian supermarket chain Esselunga is considering a possible sale and has picked Citigroup (NYSE:C) C.N as adviser to assess expressions of interest by private equity funds, two sources close to the matter said.

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