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Deals of the day-Mergers and acquisitions

Published 2018-03-05, 04:01 p/m
Updated 2018-03-05, 04:01 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds InterContinental Hotels, Bunge, Chevron , Chicago StockExchange, Fiat Chrysler; Updates Qualcomm)

March 5 (Reuters) - The following bids, mergers,acquisitions and disposals were reported by 2100 GMT on Monday:

** The U.S. government on Sunday ordered Qualcomm Inc QCOM.O to delay its March 6 shareholder meeting, a highlyunusual request that will allow time for a national securityreview of the deal, but that also cast new doubt onSingapore-based Broadcom Ltd's AVGO.O $117-billion bid for itsU.S. semiconductor peer. Indonesia's President Joko Widodo has instructed hisadministration to complete negotiations over the purchase of amajority stake in Freeport-McMoRan Inc's FCX.N local unit bythe end of April, a cabinet minister said. At least two Chinese companies are preparing bids forindustrial conglomerate General Electric's GE.N remaininglighting assets in a potentially $1 billion deal, according topeople familiar with the situation. Italian publisher GEDI GEDI.MI said it had received abinding bid for its 30 percent stake in broadcasting companyPersidera but judged it insufficient. France's AXA AXAF.PA moved to buy Bermuda-based XLGroup XL.N for $15.3 billion to create what it said would be aworld leader in property and casualty insurance. Sligro SLIGR.AS , a Dutch food retail group, said itwill sell its retail arm, which includes 130 grocery stores, toprivately owned supermarket Jumbo in a deal worth 400 millioneuros ($491 million). China's Qingdao Doublestar Co Ltd 000599.SZ said itsparent had agreed to invest 646.3 billion won ($597.4 million)for a 45 percent stake in South Korea's troubled Kumho Tire CoInc 073240.KS . Nordic telecom group Telia TELIA.ST said it had soldits stake in Azerbaijan mobile operator Azercell, which itco-owns with Turkcell TCELL.IS , part of a shift to focus onits main markets in Nordic and Baltic countries. Saudi Arabia's ACWA Power IPO-ACPO.SE has selectedJPMorgan JPM.N and Citigroup (NYSE:C) C.N to arrange the initialpublic offering of its shares, which could raise up to $1billion, sources said. Nordic health care company Attendo ATTE.ST said it hadstarted to evaluate options, including a potential divestment,for its Finnish healthcare and dental care business ahead ofmajor reforms in the sector. Fiat Chrysler Automobiles NV (FCA) FCHA.MI is lookingto spin off auto-parts business Magneti Marelli to itsshareholders via a Milan listing that will not raise money byselling new shares, four sources familiar with the matter said. Chevron Corp (NYSE:CVX) CVX.N is exploring options including thesale of a minority stake in its Canadian liquefied natural gasproject as it pushes ahead, three people familiar with thematter told Reuters. U.S. agricultural investor Continental Grain Co plans topush Bunge Ltd BG.N to consider a potential sale, a personfamiliar with the matter said, after Archer Daniels Midland Co ADM.N approached Bunge about a takeover. InterContinental Hotels Group IHG.L is close toannouncing acquisition of a luxury brand to complement itsexisting portfolio, its chief executive said. London-listed SOCO International SIA.L said it hadended merger talks with Kuwait Energy IPO-KEC.L after failingto agree terms. The Chicago Stock Exchange said it formally terminatedits merger agreement with a consortium led by China-basedinvestors following the U.S. Securities and ExchangeCommission's Feb. 15 decision to block the deal. Ultra Electronics ULE.L said it terminated the $234million acquisition of Sparton Corp SPA.N due to anti-trustconcerns raised by the U.S. Department of Justice. Qatar Central Bank is evaluating legal, financial andtechnical information related to a three-way bank merger that isexpected to create the country's second largest lender, a Qatarinewspaper reported. China's Tasly Pharmaceutical Group is planning to listits biopharma unit in Hong Kong to raise about $1 billion, inwhat is likely to be the largest biotech float in the city thisyear, people with knowledge of the matter have said. Canada's Saputo Inc SAP.TO said it is discussing plansto sell a milk plant in Victoria state to address concerns fromAustralia's competition watchdog about its buyout of MurrayGoulburn Co-operative MGC.AX . Li Shufu, the founder and main owner of China's Geely GEELY.UL , has no plans to buy further stakes in carmakersafter building up a holding of almost 10 percent in Germany'sDaimler DAIGn.DE , he told a German newspaper.

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