Deals of the day- Mergers and acquisitions

Published 20-10-2015, 03:52 pm
© Reuters.  Deals of the day- Mergers and acquisitions
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Oct 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Saudi Arabia's Al Borg Medical Laboratories is working with Ernst and Young over the possible sale of a 49 percent stake in the firm, sources familiar with the matter told Reuters.

** Malaysia's Top Glove Corp Bhd TPGC.KL , the world's largest rubber glove maker by volume, aims to buy at least one peer next year to bolster its market share and earnings, Chairman and founder Lim Wee-Chai said.

** United Arab Emirates' Al Noor Hospitals Group ANHA.L , which last week agreed to be bought by South Africa's Mediclinic International MDCJ.J , said VPS Healthcare had approached it with a "highly preliminary indication of interest."

** Actelion ATLN.VX has the financial capacity for acquisitions exceeding $2.5 billion, but such large acquisitions would have to be justified because they carry more risks, Chief Financial Officer Andre Muller told Reuters.

** Global truck maker Volvo VOLVb.ST said it signed a letter of intent with India's HCL Technologies HCLT.NS to sell its external IT business in a deal seen boosting operating earnings by about 900 million Swedish crowns ($108.5 million) on closing.

** U.S.-based fund manager Fifth Street Asset Management FSAM.O is looking to buy a European credit or direct lending firm with between $500 million and $1 billion in assets, its chief executive said.

** China ride-hailing app Yidao Yongche said that a unit of Beijing-based technology company LeTV had agreed to invest $700 million in the firm in return for a 70 percent stake, according to an emailed statement.

** Chinese state energy giant Sinopec Corp 0386.HK is in advanced talks on taking a controlling stake in petrochemical firm Dragon Aromatics, which operates one of the country's biggest chemical plants, three sources with knowledge of the matter said.

** Blackstone (N:BX) Group LP BX.N is nearing a deal to acquire Manhattan's Stuyvesant Town-Peter Cooper Village apartment complex for around $5.3 billion, according to a person familiar with the matter who was not authorized to discuss it publicly.

** Australian free-to-air television network Nine Entertainment Co Holdings Ltd NEC.AX said its biggest shareholder, U.S. private equity firm Apollo Global Management LLC APO.N , planned to sell most of its stake to regional broadcaster WIN Corp.

** Health insurer Aetna's AET.N proposed $37 billion acquisition of smaller rival Humana Inc (N:HUM) HUM.N was approved by the shareholders of both companies.

** Hard-disk drive maker Western Digital Corp WDC.O is in advanced talks to acquire memory chip maker SanDisk Corp SNDK.O , people familiar with the matter said on Monday, as a frenzy of dealmaking in the semiconductor sector continued.

** Information and data provider Thomson Reuters Corp TRI.TO agreed to sell BoardLink, a digital meeting portal for directors of corporate boards, to Diligent Corp DIL.NZ for $10 million, Diligent Chief Financial Officer Michael Stanton said on Monday.

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