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Deals of the day - mergers and acquisitions

Source : REUTERS
Last Updated: Sun, Feb 17, 2013 06:51 hrs

Feb 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Friday:

** Japanese financial services firm Orix Corp will buy Dutch asset manager Robeco from its owner Rabobank for about 240 billion yen ($2.6 billion) in a cash and stock deal, sources familiar with the matter said.

** PrimeAg Australia Ltd said it will sell 60 percent of its assets for $123 million to $126 million. PrimeAg said TIAA-CREF Global Agriculture has agreed to acquire some of PrimeAg's cropping and livestock properties in New South Wales at a premium to its book value, but at a "slight discount to independent valuations."

** Hong Kong-based Pyrrho Investments launched a 65-million-pound ($101 million) counter-offer for office space provider MWB Business Exchange on Thursday, a move that could trigger a bidding war with Britain's Regus Plc.

The investment fund's bid is at a 62.4 percent premium to the 40 million pounds offer Regus made for the company in December.

** India's Mahindra Satyam, a software services unit of Tech Mahindra, said it acquired a majority stake in Brazil's Complex IT, a provider of consultancy on the use of SAP AG's business management software.

Satyam paid $6.5 million initially and expects to pay a total of $20-23 million over an 18-24 month period for the 51 percent stake, based on certain pre-agreed milestones being achieved.



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