Deals of the day-Mergers and acquisitions
(Adds Siemens (NS: SIEM ), Merck (NS: PROR ), Northern Oil & Gas, Budapest Bank, Texas Capital, Grupo Televisa, Nexi, Cathay Pacific)
May 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
** China's aviation regulator may make it difficult for Hong Kong's Cathay Pacific Airways Ltd 0293.HK to merge regional arm Cathay Dragon into its main brand because of infractions during last year's pro-democracy protests, two sources said. Private equity vehicle Mercury UK said on Tuesday it would sell 8.8% of Italian payments group Nexi NEXII.MI through an accelerated bookbuilding procedure. Texas Capital Bancshares TCBI.O and Independent Bank Group IBTX.O called off their merger on Tuesday, saying the coronavirus pandemic has hit markets too hard and crushed the benefits of tying up. Grupo Televisa TLEVISACPO.MX said it would consider its legal options after talks with U.S. firm Live Nation Entertainment LYV.N failed to reach an accord over the latter's decision to pull out of a deal with the Mexican broadcaster. Hungary's state-owned Budapest Bank will join a strategic alliance of MKB Bank and savings group Takarekbank (MTB), forming the country's second-largest banking group, the banks said in a joint statement. Hedge fund Angelo Gordon & Co bought $33 million worth of Northern Oil & Gas Inc's NOG.A debt and said it was planning to push for deals that would increase the shale producer's cash reserves. Merck & Co Inc MRK.N , which has largely kept to the sidelines of the race for COVID-19 treatments, said it was buying Austrian vaccine maker Themis Bioscience and would collaborate with research nonprofit IAVI to develop two separate vaccines. Siemens SIEGn.DE will give 55% of its power business to shareholders when it spins it off in September, the German engineering group said, the latest stage in its shift away from a sprawling conglomerate. Australia's New Century Resources Ltd NCZ.AX said it was in talks with Brazilian miner Vale SA VALE3.SA to buy its nickel and cobalt operations on the Pacific island of New Caledonia. Air Canada 's AC.TO bid for Canadian tour operator Transat AT Inc TRZ.TO may result in higher prices and less choice for flights between Europe and Canada, EU antitrust regulators said on Monday as they opened a full-scale investigation into the deal. U.S. drugmaker Regeneron Pharmaceuticals REGN.O said on Monday it would repurchase about $5 billion of its shares directly from France's Sanofi SASY.PA , without altering their over-a-decade-long partnership. Italy's Intesa Sanpaolo ISP.MI may have to delay launching a takeover bid for rival UBI UBI.MI until September as antitrust approval for the biggest European banking merger in a decade is taking longer than expected, three people close to the matter said on Monday. Private equity firm Nordic Capital said on Monday it was buying the Swedish insurer and financial advisor Max Matthiessen, in a bid to scale up the insurer's operations and target future investment opportunities. Bernard Arnault, the billionaire behind luxury fashion group LVMH LVMH.PA , has agreed to buy a stake in the holding company of fellow French billionaire Arnaud Lagardere, according to the holding companies of the two men. The chief executive of New Zealand media Stuff said on Monday she bought the company from Australian broadcaster Nine Entertainment Holdings Ltd NEC.AX for NZ$1 (61 cents) to maintain local ownership. Indian consumer goods giant ITC ITC.NS is going to acquire spices maker Sunrise Foods Private Limited, the company said in a statement to stock exchanges on Sunday. Malaysian telecommunications company Axiata Group Bhd AXIA.KL is in talks to buy a smaller rival in Indonesia in a share-swap deal to cut costs and competition in its biggest market, as COVID-19 hammers businesses, its CEO told Reuters on Saturday. A group representing some of the largest U.S. employers has asked Congress for a year-long ban on mergers and acquisitions among hospitals and doctors groups that received government money to cope with the effects of the COVID-19 pandemic.
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