Deals of the day-Mergers and acquisitions

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

(Adds Anbang Insurance, Engie, IBM , America Movil)

May 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Merck (NS: MERK ) & Co Inc MRK.N said it would buy Peloton Therapeutics Inc for $1.05 billion in cash to gain access to the privately held company's renal cancer drug candidate. U.S. industrial manufacturer Crane Co CR.N made a hostile takeover bid for smaller rival Circor International Inc CIR.N for about $894 million, after an earlier offer was rejected by Circor's board. India's Punjab National Bank (NS: PNBK ) is looking to merge with two or three government owned banks that could include Oriental Bank Of Commerce ORBC.NS , Andhra Bank ADBK.NS and Allahabad Bank ALBK.NS , two sources familiar with the situation told Reuters, as New Delhi tries to cut the number of state-owned lenders. PPG Industries Inc (NYSE: PPG ) PPG.N said it decided to keep its architectural and industrial coatings units after reviewing its operations following calls from activist investor Nelson Peltz to break up the company. Brazilian electric utility CPFL Energia SA CPFE3.SA announced a memorandum of understanding with its parent company, China's State Grid STGRD.UL , for the potential acquisition of State Grid's stake in its renewables arm CPFL Renovaveis CPRE3.SA . Britain's Amryt Pharma AMYT.L has agreed to buy Aegerion Pharmaceuticals, a subsidiary of Novelion Therapeutics NVLN.O , in a deal that reunites the franchise for lomitapide, a treatment for patients with a rare cholesterol disorder. The assets of Kenya's ARM Cement ARM.NR have been sold to the National Cement Company for $50 million, its administrator said. EU antitrust regulators will decide by June 27 whether to clear U.S. tech giant International Business Machines (NYSE: IBM ) Corp's IBM.N $34 billion bid for software company Red Hat RHT.N . French utility Engie ENGIE.PA and Portuguese power company EDP EDP.LS will create a 50-50 joint venture to pool their fixed and floating offshore wind operations, the companies said. French businessman Jacques Veyrat, who controls a stake of more than 50 percent in renewables energy group Neoen NEOEN.PA , could sell Neoen to utility Engie ENGIE.PA in return for a small stake in Engie, BFM Business reported on its website. Japan's Toshiba 6502.T , Siemens (NS: SIEM ) SIEGn.DE unit Gamesa SGREN.MC and buyout groups such as Blackstone (NYSE: BX ) BX.N are interested in buying insolvent German wind turbine maker Senvion SENG.DE , German Manager Magazine said, citing sources close to talks. Private equity firms such as Blackstone BX.N , Brookfield Asset Management BAMa.TO , Mirae Asset Management, and SoftBank-owned Fortress have put in bids of up to $5.8 billion for Anbang Insurance's ANBANG.UL portfolio of U.S. luxury hotels business, the Financial Times reported, citing people familiar with the sales process. El Salvador's competition authority said it had rejected a bid by Mexican telecoms company America Movil AMXL.MX to acquire the local unit of Spanish rival Telefonica TEF.MC , arguing the planned takeover did not meet anti-trust requirements.

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