Deals of the day-Mergers and acquisitions

  • Reuters
  • Stock Market News
Deals of the day-Mergers and acquisitions
Credit: © Reuters.

(Adds Manulife Real Estate, Siemens (NS: SIEM ), Vedanta Ltd, Barclays , ChemChina, Sika, Autogrill and Cenovus Energy )

April 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Loews Corp (NYSE: L ) L.N , a hotel, energy and financial services conglomerate, said it would buy plastic packaging manufacturer Consolidated Container Co from Bain Capital Private Equity for about $1.2 billion. Weight-control nutrition company Atkins Nutritional Holdings has agreed to go public through a merger with blank-check company Conyers Park Acquisition Corp CPAAU.O in a deal that will value the combined company at about $856 million. Finnish retailer Kesko KESKOB.HE said it will sell its agricultural trade chain K-maatalous to Sweden's Lantmannen EK LANT01.MANG for 38.5 million euros ($40.8 million). South African e-commerce and pay-TV group Naspers NPNJn.J will pay 960 million rand ($69.5 million) to increase its stake in local online retailer Takealot, the companies said in a joint statement. LeEco has scrapped a planned $2 billion acquisition of U.S. consumer electronics company Vizio VZIO.O due to regulatory issues, a fresh setback to the cash-strapped Chinese conglomerate's expansion drive. Germany's Linde LING.DE has for a second time rejected a request for a shareholder vote at its annual general meeting next month on its planned $65 billion merger with U.S. industrial gases rival Praxair PX.N . Accell Group ACCG.AS , the maker of Dutch bicycle brands Sparta and Batavus, said on Tuesday it had received a takeover proposal that values its stock at 845 million euros ($895 million) from investor Pon Holdings. The CEO of AkzoNobel AKZO.AS , the Dutch paints and coatings maker whose management is trying to avoid a takeover by U.S. rival PPG Industries PPG.N , said its shareholders are divided over the bid in an interview published. Argentina's state-run oil company YPF SA YPFD.BA is among the bidders for Royal Dutch Shell Plc's RDSa.L refinery and network of gasoline stations in Argentina, according to two people familiar with the process. A unit of a large semiconductor investment fund linked to the Chinese state has agreed to buy U.S. semiconductor testing company Xcerra Corp XCRA.O for $580 million in cash, the companies said on Monday. Online coupon provider RetailMeNot Inc SALE.O said it had agreed to be bought by marketing services company Harland Clarke Holdings Corp MFWH.UL for about $630 million. Mexican airport operator Grupo Aeroportuario del Sureste said it had agreed to acquire a majority stake in two peers in Colombia, Airplan and Aeropuertos de Oriente, for some $262 million. Manulife Real Estate, the global real estate arm of Manulife Financial Corp MFC.TO , said it acquired 8 Cross Street, a 28-storey office tower in Singapore, for $526 million. Germany's Siemens SIEGn.DE and Canada's Bombardier BBDb.TO are in talks to combine their rail operations, two people close to the matter told Reuters, a move that could strengthen their hand against Chinese state-backed market leader CRRC Corp. Greece concluded a 1.2 billion euro ($1.27 billion) airport deal with a Fraport-led consortium FRAG.DE , the country's privatization agency said. Indian metals and mining group Vedanta Limited VDAN.NS said it had completed its buyout of oil and gas explorer Cairn India Ltd CAIL.NS , consummating a deal that was delayed for months by investor opposition. Barclays' BARC.L plan to sell its African business and pull out of the continent are being hindered by South Africa's political upheaval and credit-rating downgrades, according to banking sources and fund managers. Mexico's antitrust commission COFECE said it would condition its approval of ChemChina's CNNCC.UL planned $43 billion takeover bid of Swiss pesticides and seeds group Syngenta AG SYNN.S . Sika SIK.S Chairman Paul Haelg said he expects the hostile takeover attempt of his company by French construction materials giant Saint-Gobain SGOB.PA to be resolved by 2018. Italian travel caterer Autogrill AGL.MI plans to rejig its business structure, the company said, a move that drove its shares to a record high by fuelling talk it could seek to sell off units or acquire others. Cenovus Energy Inc CVE.TO will do more hedging after its acquisition of ConocoPhillips (NYSE: COP ) COP.N assets, the Canadian company's Chief Executive Brian Ferguson said as he mounted a charm offensive on investors who balked at the deal. ($1 = 0.9430 euros) ($1 = 13.8200 rand)

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