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Deals of the day -- mergers and acquisitions

Source : REUTERS
Last Updated: Mon, Jul 08, 2013 20:10 hrs

July 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Shareholder advisory firm ISS recommended Dell Inc shareholders vote in favor a $24.4 billion buyout offer for the PC maker from founder and Chief Executive Michael Dell, increasing the odds that his bid will succeed.

** Shareholders in Clearwire Corp voted on Monday to approve majority owner Sprint Nextel Corp's buyout of the rest of the company, ending a six-month battle for control of the small U.S. wireless operator. Sprint, which is itself being bought by Japan's SoftBank Corp, just needed approval from a majority of the minority shares. Clearwire said it expects to close the deal on July 9. SoftBank is expected to close its $21.6 billion purchase of 78 percent of Sprint the day after.

** Lloyds Banking Group shares jumped to a 2-1/2 year high on Monday as overseas investors stepped up their interest in buying part of the bank, with media reports suggesting some may want half the government's stake.

Former Standard Chartered chief executive Mervyn Davies is talking to others about forming a consortium to be an "anchor" or cornerstone investor in part-nationalised Lloyds which the government is planning to sell, a person familiar with the matter said.

** Singapore state investor Temasek has not approached the British government about buying a 4.5 billion pound ($6.70 billion) stake in part-nationalised Lloyds Banking Group, industry sources told Reuters on Sunday.

** LVMH SA on Monday said it had acquired 80 percent of Italian luxury cashmere clothing brand Loro Piana for 2 billion euros ($2.57 billion), boosting the French group's presence in high-end handcrafted products popular with Asian buyers.

** Former Thai prime minister Thaksin Shinawatra is in talks to buy the Bakrie family's 23.8 percent stake in Indonesia-focused coal miner Bumi Plc, a report on Sunday said.

** Japan's SoftBank Corp said on Monday that it expects to complete its $21.6 billion acquisition of U.S. wireless carrier Sprint Nextel Corp on Wednesday, July 10.

** Pharmstandard , Russia's leading drugmaker has started steps to spin off its over-the-counter medicines business, it said on Monday.

A report in June said that Pharmstandard's over-the-counter business could be valued at around $2.5 billion - around the same as its market capitalization.

** The new indicative bid for Norwegian salmon farmer Cermaq's fish feed arm is higher than the 6.2 billion Norwegian crowns ($991.8 million) offered by private equity firms Bain Capital and Altor, Cermaq's chief financial officer said.

** Italian carmaker Fiat SpA Chief Executive Sergio Marchionne said on Monday that talks continue to buy the 41.5 percent stake of Chrysler that Fiat does not already own.

** German engineering group Siemens AG and Swiss rail company Stadler are considering a joint venture to bundle all business projects in short and long-distance traffic, Wirtschaftswoche reported, without citing the source of the information.

** Kuwaiti logistics firm Agility plans to bid for the 26 percent stake in Kuwait Health Assurance Co being auctioned by the country's sovereign wealth fund, Agility said in a statement to Dubai bourse on Sunday.

** India's Reliance Communications Ltd will spin off its real estate business into a separately listed unit, a move the country's No.3 mobile phone carrier by customers said was to focus on its core business.

** ProSiebenSat.1's private equity owners have not yet found an investor willing to buy the German commercial broadcaster, Der Spiegel reported, citing one of the owners.

** Vivendi is exploring alternative moves to extract cash from its Activision Blizzard unit after failing to sell part of its 61-percent stake in the U.S. video games business, the Financial Times reported on its website on Sunday.

** Philippine conglomerate San Miguel Corp said it has held preliminary talks with Japan's All Nippon Airways for a possible partnership in Philippines Airlines Inc (PAL).

The diversified conglomerate, however, said it has not been approached by Emirates, reported as one of its prospective partners in PAL.

** An infrastructure fund owned by Australian bank Macquarie has agreed to purchase French wind power group Theolia for 1.70 euros per share, the two groups said.

** Creditors of Brazil's Grupo Rede Energia SA, a power distributor seeking to exit bankruptcy protection, approved on Friday a takeover plan by rival Energisa SA that would reduce losses on their investments in the company.

** Canada's two biggest pension funds are separately looking for partners to potentially bid on Rio Tinto's stake in Iron Ore Company of Canada, the Wall Street Journal said on Friday, citing two people familiar with the matter.

** BNP Paribas, France's No. 1 listed bank, has taken its first step into China's insurance market by buying Dutch bank ING's stake in a partnership with Bank of Beijing.

BNP is in the early stages of a plan to ramp up revenue and staff in Asia to offset recession in the euro zone, where it is heavily exposed.

** French carmaker Renault and Dongfeng Motor Group hope to sign an agreement later this month to create their planned Chinese joint venture, a source close to the carmakers said on Monday.

** U.S. private equity firm TPG is to buy global educational publisher TSL Education from Charterhouse, TSL said on Monday, and aims to grow digital sales to TSL's online network of customers - 52 million teachers. The deal is worth 400 million pounds ($595.30 million), two sources familiar with the matter said.

** Spanish property and construction group Sacyr Vallehermoso SA said on Monday its property business Testa Inmuebles had sold an office block in Paris to a French fund in a deal worth 450 million euros ($578.90 million) to cut debt.

** EMC Corp's RSA security division said it had acquired Aveksa Inc, a provider of cloud-based services that businesses use to verify the identity people accessing corporate networks and Web-based software. The companies did not disclose terms of the deal.

** Citi Venture Capital International, the private equity arm of Citigroup, is in talks to buy a majority stake in India's Sansera Engineering for about 3.4 billion rupees ($56 million), two sources with direct knowledge of the matter said.




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