Deals of the day-Mergers and acquisitions

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

(Adds Anthem, EDP, Televisa, Novo Banco, Frontline, Societe Generale , Schroders and National Aluminium ; updates Virtu Financial)

April 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Virtu Financial Inc VIRT.O said it would buy rival KCG Holdings Inc KCG.N in a $1.4 billion deal that brings together two major players in the U.S. electronic trading space. Germany's Beiersdorf BEIG.DE , the maker of Nivea skin cream, still prefers hoarding cash to fund possible acquisitions over raising its dividend, supervisory board Chairman Reinhard Poellath told shareholders. Sanofi SASY.PA is looking at potential acquisitions of devices, such as blood glucose testing kits, to boost its diabetes business, a senior executive at the French drugmaker said. Western Digital Corp WDC.O , the U.S. partner of Toshiba Corp 6502.T in a semiconductor venture, is in talks with state-backed fund Innovation Network Corp of Japan and the Development Bank of Japan and would consider a joint bid with them for the chip business, a senior official said. The British government said it will sell the Green Investment Bank to a consortium led by Macquarie Bank MQG.AX in a deal worth 2.3 billion pounds ($3 billion), which critics said failed to guarantee its future. Japan's Sawai Pharmaceutical Co Ltd 4555.T is buying the generic drug business of U.S. drug maker Upsher-Smith Laboratories Inc for $1.05 billion, marking the Osaka-based generic drugmaker's first overseas acquisition. Chinese tech conglomerate LeEco is in talks to sell a prized property asset in the heart of Beijing it acquired in a $420 million deal last year, the latest effort by the electric car-to-smartphone behemoth to raise funds amid a severe cash crunch. Belgian publisher Mediahuis and partner VP Exploitatie have launched a recommended cash offer for the Netherlands' Telegraaf Media Group TLGNc.AS , the three parties said in a statement, as they try to build a Dutch-Belgian multimedia company. Mubadala Capital, an arm of Abu Dhabi's state fund Mubadala, said it had conducted a private equity transaction with European fund manager Ardian, which had committed to invest $2.5 billion in the deal. German glasses retailer Fielmann FIEG.DE could pursue takeovers in the future, marketing chief Marc Fielmann, the son of company founder Guenther Fielmann, told magazine Capital in an interview. Shares in Italian toll-road operator Atlantia ATL.MI extended losses in early afternoon following a downgrade by Deutsche Bank (DE: DBKGn ), which highlighted the risks of a possible combination with Spanish rival Abertis ABE.MC . Spain's Banco Popular POP.MC CEO Ignacio Sanchez-Asiain said the lender's current priority is the sell off of non-performing real estate assets as it fights to return to profits and improve its capital. Brazilian police conducted raids on Wednesday as part of an investigation of state-controlled Caixa Econômica Federal's purchase of a stake in a consumer lender six years ago, the latest scandal rocking the nation's largest mortgage lender. India raised 12 billion rupees ($185.7 million) from a 9.2 percent stake sale in state-run National Aluminium Co (NALCO) NALU.NS , the government said, kicking off its asset sale programme for the new financial year. British asset manager Schroders SDR.L said it had agreed to buy Swiss-based private equity firm Adveq Holding for an undisclosed sum. Croatia's competition regulator AZTN has approved the sale of Splitska Banka by Societe Generale SOGN.PA to the local unit of Hungary's OTP Group OTPB.BU , increasing OTP's market share in Croatia to over 10 percent. A U.S. court has rejected a last-minute effort by billionaire investor John Fredriksen's Frontline FRO.OL to prevent BW Group from acquiring a major stake in rival oil tanker firm DHT Holdings DHT.N , DHT said. A failed bidder for Portugal's third-largest lender Novo Banco has asked its lawyers to block the 1 billion euro ($1.08 billion) sale to U.S. fund Lone Star and told the central bank it should relaunch the bidding. Health insurer Anthem Inc ANTM.N denied a report on Thursday that it was in negotiations with the Justice Department in an effort to save its merger with smaller rival Cigna Corp (NYSE: CI ) CI.N . Mexican broadcaster Televisa said it had signed a deal with Spanish telecoms giant Telefonica (MC: TEF ) that would give the mobile operator's customers cheaper access to the broadcaster's content carried on its digital platform Blim. London hedge fund firm Ecofin said an offer from Portugal's largest company EDP EDP.LS to buy 22.47 percent of subsidiary EDP Renovaveis EDPR.LS "significantly undervalues" the company, in a letter to EDPR's board seen by Reuters.

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