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Deals of the day-Mergers and acquisitions

Published 2018-04-06, 04:00 p/m
Updated 2018-04-06, 04:00 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

April 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Walmart (NYSE:WMT) WMT.N completed a thorough due diligence process on e-commerce firm Flipkart this week, two sources said, as the U.S. retail giant looks to take a controlling stake of 51 percent or more in the Indian company.

Netflix Inc NFLX.O is offering more than $300 million to buy a company that owns billboards across Los Angeles, including on West Hollywood's famed Sunset Strip, a move that could help it save money maintaining a high profile in the world's entertainment capital, according to people familiar with the matter.

Chinese car rental company Ehi Car Services Ltd EHIC.N said the company would be taken private by a consortium led by its Chief Executive Officer Ray Ruiping Zhang in a deal valued at about $937.5 million.

U.S. supermarket operator Supervalu Inc SVU.N is exploring a potential sale following pressure from activist shareholders, including Blackwells Capital LLC, a person familiar with the matter said.

British law firm Allen & Overy is in merger talks with U.S. firm O'Melveny & Myers, which would create a business with combined revenue of 2 billion pounds ($2.82 billion) and total lawyer count of around 3,000, UK's Legal Week reported.

China's Ausnutria Dairy Corporation Ltd 1717.HK said CITIC Agri Fund Management Co Ltd would buy a 25.18-percent stake for a total of HK$1.96 billion ($250 million), becoming the dairy products supplier's biggest shareholder.

Japanese online brokerage firm Monex Group Inc 8698.T will buy Coincheck Inc, the exchange at the center of a $530-million digital money heist, for 3.6 billion yen ($33.6 million), the latest move by a mainstream finance firm into the cryptocurrency market.

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A Hong Kong-based activist investment fund said Toshiba Corp's 6502.T chip unit was worth as much as $40 billion, double the sale price agreed with a Bain-led consortium, as it escalated its opposition to the deal.

Swiss engineering group ABB ABBN.S will invest 100 million euros ($122 million) in an innovation and training campus in Austria to develop technologies for its industrial automation unit, it said.

South Korea's Kumho Tire 073240.KS said it plans to issue new shares worth 646 billion won ($604.99 million) to Qingdao Doublestar Co Ltd 000599.SZ as part of an agreed deal for the Chinese company to assume control over it.

The U.S. Justice Department presented evidence on Thursday to show that AT&T (NYSE:T) T.N, owner of DirecTV, viewed buying Time Warner TWX.N as a way to make viewers stick with their pay TV service instead of moving to cheaper online providers.

Brazilian electricity company Energisa ENGI11.SA said on Thursday its board has approved a bid to buy Eletropaulo, Brazil's largest power distribution company, for 19.38 reais per share.

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