(Adds PKN Orlen, Reliance Industries , LVMH, Grubhub and J.C. Penney; Updates Campari )
June 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:
** Private equity firm Sycamore Partners is in preliminary talks to acquire J.C. Penney Co Inc JCP.N out of bankruptcy should the U.S. department store chain's negotiations with its creditors fail, three people familiar with the matter said. Grubhub Inc GRUB.N has received takeover interest from at least two European companies, Delivery Hero SE DHER.DE and Just Eat Takeaway.com NV TKWY.AS , CNBC reported, citing people familiar with the matter. French luxury goods giant LVMH LVMH.PA is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co TIF.N after deliberating whether to do so, people familiar with the matter said. India's Reliance Industries RELI.NS said U.S. private equity fund Silver Lake and its co-investors will invest an additional 45.46 billion rupees ($601.40 million) in the company's digital unit Jio Platforms. Poland's biggest refiner PKN Orlen PKN.WA has offered to sell bid target Lotos' LTSP.WA stake in a joint venture with BP to allay EU antitrust concerns about a takeover of its smaller rival, a person familiar with the matter said. Italian bank Intesa Sanpaolo ISP.MI said it had received European Central Bank authorisation to take over smaller rival UBI Banca UBI.MI , adding it was waiving a provision that would allow it to drop the deal due to COVID-19. Mediaset MS.MI , the largest shareholder in ProSiebensat.1 Media PSMGn.DE , urged the German broadcaster to commit to growing its core media business at next week's annual general meeting. Italy's Banca Profilo 's PRO.MI majority shareholder announced plans to extract value from its 53.5% stake, laying the ground for a possible takeover. Italian drinks group Campari CPRI.MI has agreed to buy 49% of online wines and spirits company Tannico to boost its e-commerce business amid the COVID-19 crisis, it said. British oil major BP BP.L has agreed to discount the price of the North Sea assets it is selling to Premier Oil PMO.L , Premier said. Australia announced the biggest shakeup of its foreign investment laws in almost half a century, including giving the government the power to force the sale of a business if it creates a national security risk. Australian Associated Press (AAP) said it expects to be sold to a group of philanthropic investors, a reprieve for the news agency that had been facing closure, and for the industry, after a run of layoffs as advertising dwindles. IT firm Hexaware Technologies Ltd HEXT.NS said it would consider a bid from its promoter HT Global IT Solutions Holdings Ltd to buy the remaining stake that it does not own in the company, sending its shares up as much as 20%. Indian oil-to-telecoms conglomerate Reliance Industries Ltd said that Abu Dhabi state fund Mubadala Investment Co will buy a 1.85% stake in its digital unit, Jio Platforms, for 90.93 billion rupees ($1.21 billion). A consortium of private equity firms KKR & Co Inc KKR.N and Ampersand Capital Partners has approached Oxford Immunotec Global Plc OXFD.O , a medical diagnostics company that develops tests to identify tuberculosis, with a $400 million acquisition offer, people familiar with the matter said on Thursday.
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