Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Deals of the day-Mergers and acquisitions

Published 2019-08-02, 04:13 p/m
Updated 2019-08-02, 04:13 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Hudson's Bay, Salini Impregilo , Chevron Corp (NYSE:CVX), Banca IFIS, JPMorgan (NYSE:JPM), Evonik Industries AG , Mach, CBS Corp (NYSE:CBS))

Aug 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Montreal real estate developer Group Mach offered to buy at least 6.9 million or about 19.5% class B voting shares of Transat AT Inc TRZ.TO at C$14, as it looks to block Air Canada's AC.TO takeover of the Canadian tour operator. CBS Corp CBS.N and sister company Viacom Inc VIAB.O have reached a working agreement on the combined company's leadership team, the Wall Street Journal reported, citing sources familiar with the matter. A special panel of Hudson's Bay Co HBC.TO reviewing a C$1.74 billion take-private bid for the retailer, proposed by Chairman Richard Baker and a group of shareholders, said the offer was inadequate based on an initial analysis. Italy's largest builder, Salini Impregilo SALI.MI , has secured financial backing to realise a government-backed plan to build a national construction champion, which includes the group's proposed takeover of troubled rival Astaldi AST.MI The U.S. Federal Trade Commission said it was suing to stop Evonik Industries AG's EVKn.DE proposed purchase of rival hydrogen peroxide maker PeroxyChem Holding Company, citing concerns that the deal would lead to higher prices. Italy's Banca IFIS IF.MI is in exclusive talks to sell some of its operations to rival Credito Fondiario, IFIS said, in a deal that would create a leading player in the soured loans market. JPMorgan JPM.N was on Friday poised to become the first foreign company to hold a majority stake in a Chinese mutual fund business, two sources said, setting a precedent that one analyst said would trigger a wave of similar transactions. Amazon.com Inc AMZN.O is in talks with Reliance Industries Ltd's RELI.NS retail unit to buy a stake in India's biggest brick-and-mortar retailer, two sources with knowledge of the talks told Reuters. KKR's KKR.N tender to buy out minority shareholders in German media group Axel Springer SPRGn.DE had received 19.2% in acceptances, the U.S. private equity investor said, putting it close to the 20% it needs by the deal's Friday deadline. Majestic Wine WINEW.L will sell its retail and commercial units to Softbank Group's 9984.T Fortress Investment for about 100 million pounds ($121.06 million) as it looks to rebrand into a purely online retailer under the Naked Wines name. Italy's plans to create a unified broadband network are making only slow progress and risk being complicated by differences between the two state-controlled owners of Open Fiber over how much the infrastructure group is worth, sources said. Australia's Macquarie Group MQG.AX has purchased a 49% stake in cotton farm Cubbie Station from a consortium led by Chinese conglomerate Shandong Ruyi 002193.SZ for an undisclosed sum, the parties said in a joint statement. Taiwan's Foxconn is exploring the sale of its new $8.8 billion display panel factory in China, people familiar with the matter told Reuters, as demand for the product wanes amid an intensifying U.S.-China trade war. Morgan Stanley (NYSE:MS) MS.N moved closer to taking a controlling stake in its Chinese securities joint venture (JV) after picking up a 2% share for $54 million, exchange filings show. Campbell Soup Co CPB.N confirmed that it signed a deal to sell its Australian snacks unit Arnott's and some of its international operations to KKR & Co Inc KKR.N for $2.2 billion as the U.S. company works on reducing debt. Brazilian state-run oil firm Petroleo Brasileiro SA PETR4.SA posted its highest ever quarterly profit on Thursday and handily beat analysts' estimates, thanks in large part to billions of reais in asset sales. U.S. states suing to stop T-Mobile US Inc's TMUS.O $26 billion merger with Sprint Corp S.N won two victories on Thursday as Texas' Republican attorney general joined 14 Democrats, adding political depth to the group, and a judge agreed to give states until December to make their case. Activist investor Carl Icahn revealed a 12.6% stake in data analytics company Cloudera Inc CLDR.N on Thursday, and said he could seek seats on the company's board. Shares in the Brazilian card processor Cielo SA CIEL3.SA rose more than 15% on Thursday after newspaper O Estado de S. Paulo reported Banco do Brasil SA BBAS3.SA was considering selling its stake in the company. Canada's Brookfield Asset Management BAMa.TO is in talks to acquire a 30% stake in Brazilian sanitation company Brookfield Ambiental from the workers severance fund FGTS, two people with knowledge of the matter said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.