Deals of the day-Mergers and acquisitions

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

(Adds NMC Health, Portsmouth, Engie SA, Aetna, Kotak Mahindra, Morocco's Samir)

May 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** U.S.-based Huntsman Corp HUN.N and Swiss Clariant AG CLN.S are combining to create a chemical manufacturer with a market value of over than $14 billion, the deal coming together after years of tentative mutual approaches. General Electric (NYSE: GE ) Co GE.N is being investigated by the European Union for providing misleading information during a review of its deal to buy LM Wind Power, a Denmark-based maker of rotor blade, Bloomberg reported, citing two people familiar with the case. Union Bankshares Corp UBSH.O said it would acquire rival Xenith Bankshares Inc XBKS.O in an all-stock deal valued at nearly $695 million, as the U.S. community lender looks to expand into North Carolina and Maryland. Akzo Nobel AKZO.AS shareholders angered by the Dutch paint maker's rejection of a 26.3 billion euro ($29.5 billion) takeover offer from U.S. rival PPG Industries PPG.N took their fight to an Amsterdam court. U.S. agricultural trader Bunge BG.N is looking to bid for the Saudi state grain company's milling operations, sources said, the second global commodities company to show interest in the privatization of the kingdom's sole wheat and barley buyer. Tech giant Samsung Electronics Co Ltd 005930.KS will continue looking for acquisition opportunities, a company executive said, as the firm seeks to build software and services to further differentiate its products. AstraZeneca AZN.L has sold the European rights to its ageing beta-blocker heart drug Seloken to Italy's Recordati RECI.MI for $300 million, as part of a continuing drive by the British drugmaker to spin off non-core assets. China's state-owned Sinochem is no longer pursuing an investment in Noble Group Ltd NOBG.SI due to concerns over the finances and business outlook of the loss-making commodity trader, three sources familiar with the matter told Reuters. Arsenal majority owner Stan Kroenke's KSE (Kroenke Sports & Entertainment) UK Inc said its shares in the Premier League club were not for sale after media reports that the club's second-largest investor had made an offer to buy out Kroenke. Chinese conglomerate HNA Group is in talks to buy a stake in Hong Kong asset management company Value Partners Group Ltd 0806.HK , Bloomberg reported, citing people familiar with the matter. Nordic telecoms firm Telia TELIA.ST said it was buying Finnish cloud services firm Nebula from private equity company Ratos RATOb.ST in a 165 million euro ($185 million) deal. Boeing (NYSE: BA ) Co BA.N said on Sunday it had signed several defense and commercial deals with Saudi Arabia including for the sale of military and passenger aircraft during a visit by U.S. President Donald Trump to the kingdom. French planemaker Dassault Aviation SA AVMD.PA hopes to start talks with India by the end of the year for additional sales of its Rafale fighter jet, before full negotiations in 2018, Chief Executive Eric Trappier said in Geneva on Sunday. Chinese construction equipment maker Zoomlion Heavy Industry Science and Technology Co Ltd 00157.SZ said on Sunday it would sell 80 percent of its environmental equipment unit to a group of four companies for 11.6 billion yuan ($1.7 billion). German luxury carmaker Audi NSUG.DE , a unit of Volkswagen VOWG_p.DE , on Saturday said it had signed an agreement with its dealers in China regarding how it will do business in the world's largest car market. The planned acquisition of Chilean retailer Ripley RIP.SN by Mexican high-end department store chain Liverpool LIVEPOLC1.MX has been scrapped, Ripley said in a regulatory filing late Friday. UAE health operator NMC Health NMC.L , asset manager Ashmore Group ASHM.L and Dallah Health 4004.SE are separately considering bids for the Jeddah-based medical services business of Saudi Arabian Airlines (Saudia) which could fetch $500 million, sources familiar with the deal said. American billionaire businessman Michael Eisner is poised to take control of Portsmouth after the ex-Premier League club's Supporters Trust (PST) voted to sell its 48.5 per cent share. A Franco-German alliance between Engie SA ENGIE.PA and RWE RWEG.DE could make sense from an industrial point of view, provided it has no impact on jobs, Engie's top union official told Reuters. Aetna Inc (NYSE: AET ) AET.N Chief Executive Mark Bertolini said that growing through acquisitions in its existing business lines is "not high on our list" after its deal with Humana Inc (NYSE: HUM ) HUM.N failed. A Moroccan court has extended the deadline for bidders to submit offers for Samir, the country's only oil refinery, for an additional three weeks, two sources close to the matter said. Uday Kotak, the billionaire head of India's Kotak Mahindra Bank Ltd KTKM.NS , sold a less than 1 percent stake in the lender in stock market transactions, complying with a central bank order to cut his holding.

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