Deals of the day-Mergers and acquisitions

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

March 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Tuesday:

** GlaxoSmithKline GSK.L is buying Novartis NOVN.S out of their consumer healthcare joint venture for $13 billion, taking full control of products including Sensodyne toothpaste, Panadol headache tablets, muscle gel Voltaren, and Nicotinell patches. Akzo Nobel AKZO.AS has agreed to sell its specialty chemicals business to investors led by U.S. private equity firm Carlyle Group CG.O for 10.1 billion euros ($12.54 billion)including debt, a milestone for the Dutch company as it struggles to recover from a tempestuous 2017. Melrose MRON.L committed to a five-year ownership of GKN's GKN.L Aerospace division if it succeeds in its hostile bid for the engineering company after the British government made a rare intervention in the high-profile takeover battle. Property developer China Vanke Co Ltd 2202.HK 000002.SZ said talks to buy a stake in Russia's O1 are still ongoing and that no decision has yet been reached. Toshiba Corp 6502.T looks set to have more options for its chip unit after China said it was still reviewing a proposed $18 billion acquisition by a Bain Capital-led consortium, making it highly unlikely that an imminent deadline for the deal will be met. Britain's Green Investment Group (GIG), a Macquarie Group MQG.AX unit, said it acquired a 25-percent interest in the Westermost Rough offshore wind farm from Marubeni Corporation 8002.T . Chinese conglomerate CEFC China Energy plans to sell its entire global property portfolio with a book value of over 20 billion yuan ($3.18 billion), Bloomberg reported citing sources familiar with the matter. Austrian property group CA Immo CAIV.VI needs to see a concrete offer from Starwood before it can say whether it makes sense and if the price is fair, its finance chief said. FIT Hon Teng Ltd 6088.HK , the cable and connector division of Taiwan's Foxconn, said it planned to buy Belkin International, a maker of smartphone accessories and home networking products, for $866 million. Hospital chain Fortis Healthcare Ltd FOHE.NS said it was evaluating an unsolicited offer received from rival Manipal Health Enterprises Pvt Ltd on March 23. Holding company Discount Investment Corp DISI.TA said it has offered to buy the 54.7 percent stake in Space Communications SCC.TA held by Eurocom for 160 million shekels ($45.89 million). Commercial real estate company Brookfield Property Partners LP BPY.O said on Monday it would acquire the 66 percent of GGP Inc GGP.N that it does not already own in a cash-and-stock deal that values GGP at about $15.3 billion. A top executive of DISH Network Corp DISH.O argued on Monday that AT&T Inc (NYSE: T )'s T.N planned purchase of Time Warner Inc (NYSE: TWX ) TWX.N would give AT&T too much power to block competitors' access to crucial content. Brazil's power company Furnas Centrais Elétricas SA, a subsidiary of state-controlled Eletrobras ELET6.SA , signed a $175-mln contract with the construction unit of Odebrecht ODBES.UL for the expansion of a power plant in Rio, according to a document and a statement from Furnas. ($1 = 0.8053 euros) ($1 = 3.4868 shekels) ($1 = 6.2810 Chinese yuan renminbi)

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