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Deals of the day-Mergers and acquisitions

Published 2016-12-19, 04:04 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Sky, Vonovia, Masraf Al Rayan, Icahn Enterprises , Sanofi, Intesa Sanpolo)

Dec 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** Rupert Murdoch said he had never asked a British prime minister for anything, seeking to play down his influence ahead of what is likely to be a politically charged approval process for his $14.6 billion bid for pay-TV group Sky SKYB.L . German property group Vonovia VNAn.DE said its 2.9 billion euro ($3 billion) takeover offer has won sufficient backing from Conwert CONW.VI shareholders, fulfilling a key condition for the deal to go through. Italian bank Monte dei Paschi di Siena BMPS.MI is trying to resolve differences with a key investor over its 5 billion-euro ($5.2 billion) rescue plan to allow the deal to go ahead and avoid a state bailout. Asset manager Legg Mason Inc (NYSE:LM) LM.N said its largest shareholder, Chinese billionaire Tianqiao Chen's Shanda Group, plans to increase its stake in the company to up to 15 percent. Brazil's Vale SA VALE5.SA agreed to sell part of its fertilizer business to Mosaic Co MOS.N for $2.5 billion to cut debt, while giving Mosaic greater access to Brazil's huge agricultural market. Toronto-based insurance group Fairfax Financial Holdings Ltd FFH.TO has agreed to buy Swiss insurer Allied World Assurance Company Holdings AG AWH.N for $4.9 billion in cash and stock, the companies said on Sunday. Sweden's SCA SCAb.ST said it was buying German bandage and plaster cast maker BSN medical for 2.74 billion euros ($2.9 bln) from private equity firm EQT in a deal expected to boost the Swedish firm's growth. Privately run CEFC China Energy is in advanced talks to secure a stake to develop onshore oilfields in the United Arab Emirates under a 40-year deal, two industry sources with knowledge of the discussions said. Qatari telecom operator Ooredoo ORDS.QA said it was in preliminary negotiations with Salam International SALM.QA about the potential acquisition of a majority stake in its IT subsidiary. Chinese mobile operating systems company Thunder Software Technology Co Ltd (Thundersoft) 300496.SZ said it has agreed to buy Finnish automotive software company Rightware for 64 million euros ($67 million). SoftBank Group Corp 9984.T has agreed to invest $1 billion in U.S. satellite venture OneWeb Ltd, marking the first tranche of a $50 billion U.S. investment the Japanese telecoms and technology company's founder Masayoshi Son pledged to President-elect Donald Trump. Idemitsu Kosan Co 5019.T said it completed the purchase of just under a third of rival refiner Showa Shell (LON:RDSa) Sekiyu KK 5002.T , cutting the amount of shares it planned to buy after facing opposition from Idemitsu's founding family. Silvio Berlusconi's Fininvest, which holds 38.3 percent of Italian broadcaster Mediaset MS.MI , said it had filed a market abuse complaint against France's Vivendi VIV.PA with national market authority Consob. German-based roof tile maker Braas Monier Building Group BMSA.DE has agreed to be taken over by U.S. rival Standard Industries GAFCO.UL , ending its resistance to the bid after Standard Industries raised its offer, valuing the company at around $1.2 billion. Steel Authority of India Ltd SAIL.NS is in talks with Japan's Nippon Steel & Sumitomo Metal Corp 5401.T and Kobe Steel Ltd 5406.T for potential technical agreements to help the firm expand its global footprint, SAIL's chairman told Reuters. German potash miner K+S SDFGn.DE has bought a stake in a Saudi fertiliser maker, plus an option to acquire more, in order to take advantage of growing demand for fertiliser in irrigation systems in the region. Sri Lankan Prime Minister Ranil Wickremesinghe has ordered a reversal and a probe into the 1.3 billion rupees ($8.7 million) Seylan Bank SEYB.CM foreign deal as it failed to follow proper procedure, the country's finance minister said. Mexico's antitrust body said it had made local approval of an asset swap between French drugmaker Sanofi SASY.PA and Germany's Boehringer Ingelheim conditional on Sanofi not acquiring its peer's cough medicines in Mexico. Qatari banks Masraf Al Rayan MARK.QA , Barwa Bank IPO.BABK.QA and International Bank of Qatar have begun initial talks for a potential merger, the banks said, in a deal that would create the Gulf state's second-largest bank. Icahn Enterprises LP IEP.O said it would sell wholly owned subsidiary American Railcar Leasing LLC to SMBC Rail Services LLC in a deal based on an enterprise value of $2.78 billion and a fleet of about 29,000 railcars. Intesa Sanpaolo ISP.MI is still deciding whether to help fund the acquisition of a 19.5 percent stake in Rosneft ROSN.MM from the Russian state and said it was not aware of any investigation by the Italian or other European authorities into the transaction.

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