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Deals of the day- Mergers and acquisitions

Published 25/08/2016, 06:23 am
© Reuters.  Deals of the day- Mergers and acquisitions

(Adds Murray and Roberts, Performance Sports Group, PharMerica, Handelsbanken, Orange)

Aug 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** The former chairman of Performance Sports Group Ltd PSG.TO , Graeme Roustan, told Reuters he has hired investment banks Jefferies Group LLC and Canaccord Genuity to explore a possible bid for the troubled maker of hockey gear. Pharmaceutical company AstraZeneca AZN.L has agreed to sell its small molecule antibiotics business to Pfizer Inc (NYSE:PFE) PFE.N in a deal that could be valued at more than $1.5 billion. Oil and gas producer PDC Energy Inc PDCE.O said it would buy two privately held companies for about $1.5 billion to add acreage in the Delaware Basin in Texas. French state-controlled utility EDF EDF.PA and the French government have agreed on a 400 million euro ($450 million) compensation package for the closure of EDF's Fessenheim nuclear plant, a source familiar with the situation said on Wednesday. Beijing Xinwei Technology Group 600485.SS has agreed to buy Israeli satellite operator Space Communication SCC.TA for $285 million, the companies said on Wednesday. Chinese private equity investor CDH Investments is selling up to $916 million of its shares in WH Group 0288.HK , the world's largest pork company, IFR reported on Wednesday, citing a deal marketing termsheet. PharMerica Corp PMC.N , a U.S. pharmacy manager for long-term care facilities, is exploring strategic alternatives including a potential sale, according to people familiar with the matter. The partners of Emerging Sovereign Group LLC (ESG) have agreed to buy back the majority stake in the emerging markets-focused hedge fund manager that was acquired by Carlyle Group LP CG.O in 2011, Carlyle said on Wednesday. Japan's Recruit Holdings Co Ltd 6098.T said on Wednesday its shareholders, including advertising agency Dentsu Inc 4324.T , will sell up to 267 billion yen ($2.67 billion) worth of its shares in Japan and overseas to diversify its shareholder base. French telecoms operator Orange ORAN.PA denied on Wednesday having reached a deal with Vivendi VIV.PA that would include taking stakes in the media giant's pay-TV Canal Plus and in Telecom Italia TLIT.MI , following an online report by French magazine Challenges. Chinese state-backed firms are frontrunners to buy a $1.5 billion controlling stake in Pakistani utility K-Electric, sources said, as they bet the benefits of a Beijing-led economic corridor will trump the risks of investing in Pakistan. Glencore Plc GLEN.L has agreed to sell all the gold and a 30 percent stake in its Ernest Henry copper mine in Australia to Evolution Mining EVN.AX for A$880 million ($670 million), advancing the Swiss giant's effort to pay down debt. Australian retailer Metcash Ltd MTS.AX said it would buy the Home Timber & Hardware group, owned by Woolworths Ltd WOW.AX , for A$165 million ($125.48 million) in cash. Oil and gas giant Saudi Aramco IPO-ARMO.SE may reduce its stake in a proposed $5.5 billion refinery project in Indonesia, the country's energy minister said on Wednesday. Cia Energética de São Paulo SA CESP6.SA said on Tuesday that a council overseeing privatizations has recommended the state of São Paulo sell a controlling stake in the Brazilian electricity generator. Brazilian steelmaker Cia Siderúrgica Nacional SA CSNA3.SA said in a securities filing on Tuesday that it had agreed to sell its Fortaleza, Brasil-based tinmaker, Cia Metalic do Nordeste SA, to Poland's Can-Pack SA for $98 million. Tesla Motors TSLA.O Chief Executive Elon Musk is buying $65 million of bonds from SolarCity Corp SCTY.O in the latest debt offering by the solar panel company that Tesla plans to acquire for $2.6 billion, according to a filing on Tuesday. South African engineering and construction group Murray and Roberts (M&R) MURJ.J said on Wednesday it was in talks to sell its infrastructure and building business as part of its drive to focus on projects for the global natural resources sector. Swedish bank Handelsbanken SHBa.ST said on Wednesday it planned to sell its 29.4 million shares in its parent Industrivarden INDUa.ST to institutional investors. India's Piramal Enterprises Ltd PIRA.NS said it would partner Bain Capital to invest in distressed assets, becoming the latest entrant in the space as the nation's banks are on a drive to clean up $120 billion of sour debt.

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