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Deals of the day-Mergers and acquisitions

Published 2016-02-10, 03:49 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Devon Energy , Berkshire Hathaway (N:BRKa), Agropur, updates Asahi)
Feb 10 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 2100 GMT on Wednesday:

** Vonovia VNAn.DE , Germany's biggest residential property
firm, failed in its 9.9 billion euro ($11.2 billion) hostile bid
for Deutsche Wohnen DWNG.DE on Wednesday, ending a drawn-out
and acrimonious battle. Japan's Asahi Group Holdings 2502.T said it is in
exclusive talks to buy SABMiller's SAB.L Peroni, Grolsch and
Meantime beer brands for 2.55 billion euros ($2.9 billion), as
it looks to offset slow growth in its home market. U.S. oil producer Devon Energy Corp (N:DVN) DVN.N said on
Tuesday it has hired the U.S. investment bank Jefferies Group
LLC LUK.N to market assets across four major shale basins to
raise cash and slash debt. Berkshire Hathaway Inc BRKa.N has bought an additional
$1 billion of stock in Phillips 66 (N:PSX) PSX.N this year, and now
owns roughly 14.1 percent of the oil refiner. Canada's second-biggest dairy, Agropur Cooperative, said
it is looking to grow in the United States, possibly through
acquisitions, in the face of an expected erosion of its market
share at home due to recent international trade deals.
Staples Inc's SPLS.O proposed takeover of Office Depot
Inc ODP.O has been approved by European regulators after the
U.S. office supplies retailer agreed to sell some of the
European operations of its smaller rival. Tesco TSCO.L , Britain's biggest retailer, has taken
full control of the Harris+Hoole coffee shop chain by buying out
its founding investors, it said on Wednesday. A group of Chinese firms have made a cash offer for Opera
Software OPERA.OL , valuing the Norwegian mobile phone internet
browser and advertising company at 10.5 billion crowns, or $1.23
billion, the 20-year-old company said. Finnish telecoms network equipment maker Nokia NOKIA.HE
on Wednesday said it holds about 91 percent of the shares in
France's Alcatel-Lucent ALUA.PA following the second round of
its 15.6 billion euro ($17.6 billion) all-stock offer.
Volkswagen VOWG_p.DE reiterated on Wednesday that its
large engines unit was not for sale, after Reuters reported the
carmaker had received expressions of interest in the non-core
unit since its emissions scandal broke out. Canadian Pacific Railway Ltd CP.TO said on Tuesday it
planned to seek support from Norfolk Southern (N:NSC) Corp's NSC.N
shareholders to push the U.S. railroad's board to engage in
takeover talks. German engineering group Siemens SIEGn.DE and Spanish
renewable energy group Gamesa GAM.MC are in final negotiations
on a deal to merge their wind power assets, two sources familiar
with the situation told Reuters on Wednesday. Pinewood Group PWS.L , owner of the British studio where
James Bond is filmed, said the firm could be sold as it looks to
boost shareholder value and help the company grow. Hikma Pharmaceuticals HIK.L said it would pay $535
million less than its earlier offer to buy Boehringer
Ingelheim's U.S. generic drugs business after due diligence
revealed that the unit's 2015 revenue would be lower than
previously expected. Turkish business conglomerate Fiba Group has put up for
sale its Russian mid-sized lender Credit Europe Bank, two
banking sources told Reuters, against a backdrop of a diplomatic
row between Moscow and Ankara that shows no sign of abating.
Farming equipment manufacturer AGCO Corp AGCO.N does
not have immediate plans to purchase a stake in 365FarmNet, a
farm management company and software platform that is a
subsidiary of Germany-based Claas KGaA mbH CLAAS.UL , AGCO's
chief executive said on Tuesday. Italy's Exor EXOR.MI will buy a 13 percent stake in
energy industry equipment maker Welltec for 103.3 million euros
($116 million), the investment arm of Fiat founders the Agnelli
family said on Wednesday.

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