Deals of the day-Mergers and acquisitions

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

(Adds Schlumberger (NYSE: SLB ), Smart & Final Stores, Tata Steel ; updates Papa John's, Tesla, Gannett, DSV, Ultimate Software)

Feb 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** An Indian appeals tribunal has ruled against Tata Steel Ltd's TISC.NS effort to dismiss rival bids for Bhushan Power and Steel, boosting JSW Steel Ltd's JSTL.NS offer to buy the indebted steel maker. Smart & Final Stores Inc SFS.N , a U.S. food retailer controlled by private equity firm Ares Management Corp ARES.N , is exploring options that include a sale of the company, according to people familiar with the matter. U.S. oilfield services giant Schlumberger SLB.N has withdrawn its bid for a stake in Russia's Eurasia Drilling Company (EDC) Russia's Federal Anti-monopoly Service (FAS) said. Ultimate Software Group Inc ULTI.O , a cloud-based human resources applications developer, said it agreed to be bought by an investor group led by private equity firm Hellman & Friedman for about $11 billion. Danish logistics company DSV's DSV.CO $4 billion-plus bid for Panalpina PWTN.S hit a roadblock when the Swiss freight forwarder's top shareholder rejected the offer, saying Panalpina should stick to its own "consolidator strategy". Pan-European stock market operator Euronext NV ENX.PA said it may sweeten its offer for Oslo Bors VPS OSLO.NFF as Nasdaq NDAQ.O made a rival bid. Nasdaq's bid for Norwegian stock market operator Oslo Bors VPS OSLO.NFF is better for the country's capital market as well as for companies listed on the exchange than the rival offer made by Euronext NV ENX.PA , Oslo Bors CEO said. British airline Flybe Group Plc FLYB.L , which is being bought by a consortium of Virgin Atlantic, Stobart Group STOB.L and Cyrus Capital, said on Sunday it had been approached by Stobart's former CEO Andrew Tinkler about a possible alternative financing proposal. Private equity firm KKR & Co Inc KKR.N is exploring the "full or partial" sale of its Hitachi Kokusai chip equipment unit and has attracted the interest of two Chinese buyers, the Financial Times reported on Sunday, citing people familiar with the situation. Panalpina Welttransport Holding's PWTN.S largest shareholder said that it does not support a $4 billion-plus offer from Denmark's DSV DSV.CO for the Swiss logistics company. Shares of Clover Industries Ltd CLRJ.J jumped over 20 percent after it announced a 4.8 billion rand ($359 million) buyout offer from a consortium of companies, including Brimstone Investment Corporation Ltd BRTJ.J and the executive management of Clover. Drugmaker Indivior Plc INDV.L said it is selling its rights related to the opioid addiction treatment drug Sai Bo Song tablet in China to privately-held Zhejiang Pukang Biotechnology Co. Ltd, which focuses on vaccines, for up to $122.5 million. Palo Alto Networks Inc PANW.N is in talks to acquire U.S.-Israeli information security firm Demisto Inc, the Calcalist financial daily reported on its website. Mobile video advertising company Taptica International Ltd TAP.L said it agreed to buy U.S.-focused peer RhythmOne Plc RTHM.L for about 135 million pounds ($176.6 million) in stock as it looks to expand in the United States. Activist fund CIAM criticised French reinsurer Scor SE SCOR.PA regarding its tactics concerning Covea, which Scor is suing after Covea announced it was dropping plans for a takeover of Scor. Papa John's International Inc PZZA.O unveiled an investment of up to $250 million from hedge fund Starboard Value LP on Monday, snubbing a rival offer from founder John Schnatter, who is seeking to regain control of the world's third largest pizza delivery company. Gannett Co Inc GCI.N rejected newspaper chain MNG Enterprises Inc's MNGE.PK $1.36 billion buyout offer, saying it undervalued the company and was not credible. Tesla Inc TSLA.O has agreed to buy energy storage company Maxwell Technologies Inc MXWL.O for $218 million in an all-stock deal that could help the electric car maker produce batteries that hold more energy and last longer at a time when it needs to cut costs and faces growing competition. Waste and water company Suez SEVI.PA and agricultural group Avril have agreed to partner in the market for organic fertilizers, they said in a statement.

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