Deals of the day-Mergers and acquisitions

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

(Adds Melrose , Kering , EDP-Energias, Ageas , St Gobain, Cellnex, Teleology Holdings, China's Hillhouse, Redkix, Lundin Mining ; updates Surpervalu, Hindalco, Qualcomm)

July 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** British turnaround firm Melrose MRON.L is considering a series of sales of GKN (LON: GKN ) businesses after clinching an 8 billion pound ($10.5 billion) hostile takeover of the aerospace and automotive parts supplier earlier this year, sources familiar with the matter told Reuters. Kering PRTP.PA does not intend to sell off any more of its smaller fashion brands beyond the ones already on their way out, the group's managing director Jean-Francois Palus said. Portugal's EDP-Energias de Portugal, which is the target of a takeover bid by China Three Gorges, posted a 16 percent drop in first-half net profit, mainly due to tax and regulatory pressures in Portugal as well as foreign exchange. Ageas AGES.BR has not been approached by Chinese conglomerate Fosun International 0656.HK about a possible bid, the Belgian insurer's chief executive told Reuters, adding that he has met Fosun officials on only one occasion in the past. French construction materials group St Gobain SGOB.PA said it would accelerate its general strategy regarding sales of non-core assets and acquisitions, as it posted higher interim profits. The holding company of the Benetton family is expected to sell part of its 29.9 percent stake in Spain's Cellnex CLNX.MC to Singapore's GIC and Abu Dahbi's ADIA, two sources said. Nigeria's telecoms regulator is finalising its review of investment firm Teleology Holdings' planned takeover of 9mobile and the deal is expected to close in about a week, two sources told Reuters. China's Hillhouse Capital Group is in talks to buy Yum China Holdings Inc YUMC.N , which operates KFC restaurants in the country, the Information news website reported. Israel's Redkix, whose product combines email and team messaging, said it has agreed to be acquired by Facebook FB.O , where it will join the Workplace team to help companies collaborate. Lundin Mining Corp LUN.TO launched a hostile C$1.4 billion ($1.1 billion) takeover bid for fellow Canadian miner Nevsun Resources Ltd NSU.TO , saying it had failed to convince Nevsun's board to strike a friendly deal over the past nine months. U.S. grocery retailer Supervalu Inc SVU.N said it will sell itself to United Natural Foods Inc (UNFI) UNFI.O , a distributor of natural and organic foods, for $1.35 billion, after coming under pressure from shareholders to explore a sale. India's Hindalco Industries Ltd HALC.NS said its U.S. unit Novelis Inc has agreed to buy aluminium processor Aleris Corp for $2.6 billion, giving it a foothold in supplying the aerospace industry and other value-added businesses globally. UK private equity fund Peninsula bought a 33 percent stake in Italy's Kiko, investing a total of 80 million euros in the make-up brand, a statement by the owning family said. NXP Semiconductors NXPI.O followed Qualcomm Inc QCOM.O in announcing share buybacks worth billions of dollars on Thursday as the companies sought to compensate investors for the collapse of their $44 billion merger due to Chinese opposition. Qatar First Bank QFBQ.QA sold its 20 percent stake in Turkey's Memorial Health Group to majority shareholder Turgut Aydin and his family, Memorial said in a statement. AccorHotels ACCP.PA , Europe's largest hotelier, said it had abandoned plans to buy a minority stake in Air France-KLM AIRF.PA , which has been hit by boardroom and staff unrest. China's markets regulator said it has conditionally approved merger between French lens manufacturer Essilor ESSI.PA and Italian eyewear Luxottica LUX.MI . John Menzies Plc MNZS.L is selling its newspaper distribution business to private equity firm Endless LLP for an enterprise value of 74.5 million pounds ($98.33 million), marking its transition to a pure-play aviation services group. Israeli real estate company Gazit-Globe GZT.TA said it sold its remaining 5.6 million shares of Regency Centers Corp REG.N for $61.95 a share or a total of $347 million. Retailer Casino CASP.PA , which is facing investor concerns about its high debt levels, said it was making progress with its assets disposal plan, with the sale of a 15 percent stake in its Mercialys property unit. French waste and water group Suez SEVI.PA will sell a 20 percent stake in its United States regulated water business to pension fund PGGM for $601 million, to help strengthen its balance sheet again after last year's acquisition of GE Water. Australia and New Zealand Banking Group Ltd ANZ.AX said it entered a term sheet to transfer an 82 percent stake in its pensions unit (P&I) and ownership of its aligned dealer groups (ADG) to wealth manager IOOF Holdings Ltd IFL.AX . Aluminum products maker Arconic Inc ARNC.N is weighing takeover approaches from at least two private-equity groups, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

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