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Deals of the day-Mergers and acquisitions

Published 2018-02-15, 04:01 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Boeing (NYSE:BA), Booker, Enbridge , Altice, Tribune, Roche)

Feb 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** Petrochemicals company LyondellBasell Industries NV (NYSE:LYB) LYB.N will buy plastic composites maker A. Schulman Inc SHLM.O for $1.24 billion, doubling the size of its plastics business. Wyndham Worldwide Corp (NYSE:WYN) WYN.N will sell its European vacation rental business to private equity firm Platinum Equity for about $1.3 billion, the U.S. hotelier said, ending a six- month long review process for the business. Standard Life Aberdeen SLA.L said it had been served notice by Lloyds Banking Group LLOY.L and Scottish Widows on a 109 billion pound ($153 billion) asset management deal, further denting shares in the recently-merged group. The 7.4 billion pound ($10.4 billion) hostile bid for British engineering group GKN GKN.L from Melrose Industries MRON.L is "low price and high risk" and undervalues the company, GKN Chairman Mike Turner said in a letter to shareholders. One of the Sistema AFKS.MM conglomerate's assets that the Russian Direct Investment Fund (RDIF) held as collateral could be sold to a third-party investor, RDIF head said. Brazilian state-controlled oil company Petroleo Brasileiro ETR4.SA has set a late-March deadline to receive binding proposals for a controlling stake in gas pipeline network Transportadora Associada de Gás (TAG), three people with knowledge of the matter said. Qualcomm Inc QCOM.O said on Wednesday it met with Broadcom Ltd AVGO.O earlier in the day to discuss the latter's revised $121 billion bid, the first time the chipmakers have discussed what would be the technology sector's largest ever acquisition. Popular Inc BPOP.O said its banking unit, Banco Popular de Puerto Rico, would buy certain assets and debt related to Wells Fargo (NYSE:WFC) & Co's WFC.N auto finance business in Puerto Rico for about $1.7 billion. Investors in retailer Booker BOK.L should reject a "less than compelling" 3.7 billion pounds ($5.2 billion) takeover bid by British market leader Tesco TSCO.L , a top advisory firm said. Enbridge Inc ENB.TO , Canada's biggest pipeline operator, plans to accelerate its divestment program by selling assets valued at about C$8 billion ($6.4 billion) in 2018, more than two times its initial sale target, according to people familiar with the situation. Boeing Co BA.N is "getting closer" to a deal with Brazilian aircraft maker Embraer EMBR3.SA , the U.S. plane maker's Chief Executive Officer Dennis Muilenburg said in an interview with CNBC television on Thursday. Portugal's competition authority said on Thursday it would launch a thorough investigation into the planned takeover by Dutch-based Altice of Media Capital, the owner of the TVI television channel. Drugmaker Roche Holding AG ROG.S said it would buy the rest of the privately held oncology data company Flatiron Health Inc for $1.9 billion to speed up development and delivery of breakthrough medicines for cancer patients.

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