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Deals of the day-Mergers and acquisitions

Published 2019-03-19, 04:01 p/m
Updated 2019-03-19, 04:01 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Inmarsat , Elior Group; updates Mindtree)

March 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Inmarsat ISA.L has received a cash takeover offer from Apax Partners, Warburg Pincus International and Canada Pension Plan Investment Board, the British satellite company said, valuing the business at about $3.3 billion. European private equity fund PAI Partners has emerged as the frontrunner in the auction for the concession catering business of France's Elior Group ELIOR.PA , four sources familiar with the matter told Reuters. Real estate services provider Jones Lang LaSalle Inc JLL.N said it will buy capital markets services provider HFF Inc HF.N in a cash and stock deal valued at about $2 billion. A series of buyout funds including U.S. firms Advent and Blackstone (NYSE:BX) are in talks with advertising group WPP WPP.L to explore bids for a majority stake in its data analytics unit Kantar, four sources familiar with the matter told Reuters. A consortium of investors including Poland's sovereign wealth fund PFR has agreed to buy the country's largest container terminal in Gdansk from the infrastructure fund of Australia's Macquarie in a deal worth more than 5 billion zlotys ($1.3 billion), the companies said. British chemicals firm INEOS INEOSE.UL said it would buy Cristal's North American titanium dioxide business from Tronox TROX.N for $700 million. An economic adviser to the German government, Isabel Schnabel, said she strongly advised against a possible merger of Deutsche Bank DBKGn.DE and Commerzbank CBKG.DE . Stadler Rail is looking at potential acquisitions in the rail maintenance sector to help accelerate growth, the Swiss company said as it announced flotation plans. German Chancellor Angela Merkel said only Deutsche Bank DBKGn.DE and Commerzbank CBKG.DE could decide whether they wanted to merge, making clear she would not take a stand. British supermarket groups Sainsbury's SBRY.L and Asda have committed to deliver 1 billion pounds ($1.3 billion) of annual price cuts as they attempt to salvage their proposed combination after being dealt a potentially fatal blow by the regulator. Columbia Pacific Management's Asian hospital business has drawn interest from global private equity players including KKR, CVC and Carlyle, in a sale the U.S. investment company sees fetching about $2 billion, sources with knowledge of the matter said. The chief executive of Brazilian planemaker Embraer SA EMBR3.SA will step down next month, the company said, as it prepares to cede control of its commercial aviation division to Boeing (NYSE:BA) Co BA.N for $4.2 billion. India's Mindtree MINT.NS rejected conglomerate Larsen & Toubro's LART.NS hostile takeover bid, saying L&T's plan to acquire a controlling stake will not create value for the IT services firm or its shareholders. Australia's Healthscope Ltd HSO.AX said the Foreign Investment Review Board had approved Canadian investment firm Brookfield's BAMa.TO takeover offer for the hospital operator along with associated property transactions. French telecoms operator Iliad ILD.PA is sounding out funds to buy part of its mobile towers business as it seeks to raise cash after heavy promotions hit its sales in 2018. German lawmakers have criticised deputy finance minister Joerg Kukies and Goldman Sachs (NYSE:GS), alleging a conflict of interest in the U.S. investment bank advising state-backed Commerzbank on a possible merger with Deutsche Bank.

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