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Deals of the day-Mergers and acquisitions

Published 2017-06-08, 09:57 a/m
© Reuters.  Deals of the day-Mergers and acquisitions
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(Adds Nordstrom, Kinnevik, Uniper, Shanghai Stock Exchange, Etihad, ECN Capital, Global Logistic, GPEA, Valeant, Forestar)

June 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1350 GMT on Thursday:

** Department store operator Nordstrom Inc (NYSE:JWN) JWN.N said some members of the controlling Nordstrom family have formed a group to consider taking the company private. Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO VRX.N said it would sell its iNova Pharmaceuticals business for $930 million, as Chief Executive Officer Joseph Papa steps up efforts to slash the embattled Canadian drugmaker's huge debt pile. Forestar Group Inc FOR.N said that U.S. homebuilder D.R. Horton Inc's DHI.N offer to buy a majority in the real estate developer could lead to a bid superior to its deal with Starwood Capital Group. Sirius XM Holdings Inc SIRI.O , the U.S. satellite radio company controlled by John Malone's Liberty Media Corp FWONA.O , is seeking to invest in internet music provider Pandora Media Inc P.N , people familiar with the matter said. A consortium of private equity firms TPG Capital Management and MBK Partners, as well as telecoms firm HKBN Ltd 1310.HK , are preparing separate bids for the fixed-line phone unit of Hong Kong's richest man, Li Ka-Shing, sources with direct knowledge of the matter said. Israel Chemicals ( ICL ) ICL.TA said it reached an agreement to sell its 50 percent stake in water desalination firm IDE Technologies for $178 million. Swedish investor Kinnevik KINVb.ST has sold its remaining stake in German ecommerce company Rocket Internet RKET.DE for more than 200 million euros, capitalising on a recent rally in the stock fuelled by plans to list two of its start-ups. Uniper UN01.DE , the power plant and energy trading business spun off by E.ON EONGn.DE , said it was seeing growing interest from investors, citing a 74-percent rise in shares since it was listed in September last year. Tokyo Electric Power Company Holdings (Tepco) 9501.T and Chubu Electric Power Co 9502.T said they aim to cut costs by more than 100 billion yen ($910 million) a year within five years after combining their fossil fuel power plants under their JERA Co joint venture. Italy considers the original agreement Fincantieri FCT.MI struck with France for the purchase of shipyard STX France still valid, Industry Minister Carlo Calenda said. The Shanghai Stock Exchange (SSE (LON:SSE)) said it has signed an agreement with the financial centre of the Republic of Kazakhstan to acquire a 25.1 percent stake in the country's exchange. Abu Dhabi-based Etihad Airways said it had pulled out of talks with TUI Group TUIT.L TUIGn.DE , Europe's largest tour operator, aimed at creating a new joint venture holiday airline. Singapore-listed warehouse operator Global Logistic Properties (GLP) GLPL.SI said short-listed bidders for the firm should submit their proposals by end-June. Canadian commercial financing company ECN Capital Corp ECN.TO said it would buy U.S.-based Service Finance Holdings LLC for C$410 million ($304 million) in cash. Estate agents network GPEA has merged with British online estate agent easyProperty in a deal worth about 60 million pounds ($78 million), with the aim of grabbing one of the top two spots in the fast-growing online market.

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