Deals of the day-Mergers and acquisitions

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

(Adds Aspen, Iliad , ArcelorMittal, Hudson's Bay, Elementis, updates Alibaba (NYSE: BABA ))

Sept 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Aspen Pharmacare APNJ.J is in talks to sell its global infant formula business as the South African drug maker seeks to cash in on growing demand for baby milk. The chief investment officer of Brazilian pension fund Previ said the fund needed more details to approve a proposed deal between Embraer SA EMBR3.SA and Boeing (NYSE: BA ) Co. BA.N . Executives of Deutsche Bank DBKGn.DE and Commerzbank CBKG.DE are increasingly open to the idea of a merger of Germany's two largest banks, magazine Der Spiegel reported. Finnish sports equipment maker Amer Sports AMEAS.HE has had a 4.6 billion euros ($5.3 billion) takeover approach from China's Anta Sports 2020.HK and private equity firm FountainVest. Iliad ILD.PA has offered at least 749 million euros ($867 million) for spectrum in Italy's fifth-generation mobile auction as it seeks to boost its first venture outside France. ArcelorMittal MT.AS shares fell more than 2 percent on Tuesday after the company raised its offer for India's debt-laden Essar Steel ESRG.UL , prompting concerns that it was paying too much. British speciality chemicals company Elementis ELM.L has struck a deal to buy Mondo Minerals for $100 million less than initially agreed following criticism of the original price from its shareholders. Hudson's Bay Co (HBC) HBC.TO and Signa Holding agreed on Tuesday to merge Germany's Galeria Kaufhof and Karstadt chains to form Europe's third-biggest department store chain as they battle online rivals, sending HBC shares surging. China's largest e-commerce firm, Alibaba Group Holding Ltd BABA.N has joined forces with a state fund and two technology firms in Russia, hoping that access to their client base of more than 100 million people will boost its development. Japan's Renesas Electronics Corp 6723.T said it had agreed to buy Integrated Device Technology Inc (IDT) IDTI.O for $6.7 billion, its second major acquisition as it deepens its push into semiconductors for self-driving cars. U.S. shale oil producer SandRidge Energy Inc SD.N said it had ended its strategic review and rejected all bids, saying they undervalued the company.

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