Deals of the day-Mergers and acquisitions

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

Nov 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Monday:

** Marvell Technology Group Ltd MRVL.O is in advanced talks to buy Cavium Inc CAVM.O - a deal that would create a chipmaker worth about $14 billion, the Wall Street Journal reported on Friday. Communications chipmaker Broadcom Ltd AVGO.O is planning to unveil a bid for smartphone chip supplier Qualcomm Inc QCOM.O by Monday, three sources familiar with the matter said on Friday, an attempt to create a roughly $200-billion company through the biggest technology acquisition ever. Kuwait's Petrochemical Industries Co (PIC) has signed a contract with U.S. firm Jacobs Engineering to carry out engineering and design work for a planned polypropylene plant it co-owns in Canada, Kuwait's state news agency reported on Saturday. Sprint Corp S.N and T-Mobile US Inc TMUS.O said on Saturday they have called off merger talks to create a stronger U.S. wireless company to rival market leaders, leaving No. 4 provider Sprint to engineer a turnaround on its own. State-owned Israel Aerospace Industries (IAI) ISRAI.UL said on Sunday it signed a deal with the FIMI private equity fund to invest in IAI's subsidiary ImageSat. India's antitrust regulator has approved Singapore's sovereign wealth fund GIC's bid to acquire a stake in a firm owned by DLF DLF.NS for 89 billion rupees ($1.38 billion), the country's biggest real estate developer said in a statement late Saturday. Altice USA ATUS.N , the fourth-largest U.S. cable operator, said on Sunday it would introduce mobile service on Sprint Corp's S.N network, becoming the latest in its industry to plan to enter the wireless market in an effort to retain customers. Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG SYNN.S as it overhauls its activities following a series of major overseas acquisitions. South African lender FirstRand FSRJ.J has agreed a 1.1 billion pound ($1.3 billion) takeover of British banking newcomer Aldermore Group ALD.L to boost its business in developed markets. Japanese oil explorer Inpex 1605.T has sold Murban and Das crude cargoes for loading in January and February at premiums of 25 cents to 30 cents a barrel above the grades' respective official selling prices (OSP), two trade sources said. Air China 601111.SS , 0753.HK said it viewed Qatar Airways' acquisition of a 9.61 percent stake in Cathay Pacific Airways Ltd 0293.HK "positively" and that it hoped the shareholders could work together to find synergies.

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