Deals of the day-Mergers and acquisitions

  • Reuters
  • Stock Market News
Deals of the day-Mergers and acquisitions

(Adds BP , Verizon, Slack, Capita, Nestle, Abertis , Zodiac , BP Energy, ILG)

June 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** BP BP.L and Reliance Industries RELI.NS said on Thursday they would invest $6 billion to boost India's gas output from an east coast block and expanded their tie-up to feed the South Asian nation's rising fuel and renewable energy demand. Western Digital Corp WDC.O has sought a court injunction to prevent Toshiba Corp 6502.T from selling its chip business without the U.S. firm's consent - a move that threatens to throw the fiercely contested auction into disarray. Verizon Communications Inc (NYSE: VZ ) VZ.N said on Thursday it expected to incur about $500 million in pre-tax expenses in the second quarter as a result of its $4.48 billion purchase of Yahoo Inc 's YHOO.O core business. Slack Technologies Inc, a corporate chatroom startup, has received inquiries about a potential takeover from technology companies, including Amazon.com Inc AMZN.O , Bloomberg reported on Thursday. Slack was valued at $3.8 billion at its last private financing round a year ago. Australian financial services firm Link Group and three buyout funds are putting the finishing touches to their rival offers for Capita's CPI.L asset management services arm, a deal worth up to 800 million pounds ($1.02 billion), sources told Reuters on Thursday. Nestle NESN.S may sell its roughly $900 million-a-year U.S. confectionery business, which includes Butterfinger and BabyRuth, in the Swiss food group's latest effort to improve the health profile of its sprawling portfolio. Italy's Atlantia ATL.MI on Thursday opened the door to a full cash offer for Spain's Abertis ABE.MC , though it will insist on some shareholders accepting payment in stock as part of its 16.3 billion-euro takeover bid for the Spanish toll road firm. Shareholders in Safran SAF.PA on Thursday backed resolutions that will free the French aero engine maker to pursue an agreed takeover of parts maker Zodiac ZODC.PA . BP Energy Partners, an energy investment company backed by oil tycoon T. Boone Pickens, is selling portfolio company Pinnacle Midstream, according to four sources familiar with the matter. Chinese Group Yida International Investment has formally expressed interest in Esselunga, Italy's fourth-largest supermarket chain, Italian daily la Repubblica reported. A South Korean private equity syndicate led by Newlake Alliance and JB Asset Management has been named as the preferred bidder in the sale process for troubled Australian steel group Arrium Ltd ARI.AX , Arrium's financial administrator confirmed. British engineering and design consultancy WS Atkins ATKW.L reported its fastest growth in annual profit in at least a decade on Thursday, which could help smooth completion of its takeover by Canadian rival SNC-Lavalin Group SNC.TO . Bain Capital plans to sell up to $400 million worth of shares in Japanese restaurant chain operator Skylark Co Ltd 3197.T , IFR reported , citing a term sheet of the transaction. Unilever ULVR.L UNc.AS plans to kick off the auction for its margarine and spreads business this autumn, its chief financial officer. ILG Inc ILG.O , a U.S. provider of vacation timeshare properties, is holding early-stage talks about merging with another company after coming under pressure from hedge fund FrontFour Capital Group Llc, according to people familiar with the matter.

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