Get 40% Off
🤑 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Deals of the day- Mergers and acquisitions

Published 01/10/2015, 06:01 am
© Reuters.  Deals of the day- Mergers and acquisitions

(Adds General Motors (NYSE:GM), Hudson's Bay, Synaptics, Enel (MILAN:ENEI) Green Power, Wright Medical, Repsol, Quorn Foods, Hudson City Bancorp, Banco BPI, Tesco ;Updates Starboard value LP, Fnac, Mellanox, Western Digital )

Sept 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Touchscreen chip maker Synaptics Inc SYNA.O rejected an offer from a Chinese investment group that valued the company at nearly $4 billion, Bloomberg reported on Wednesday. ID:nL3N12056K

** The Federal Reserve said it had approved M&T Bank (NYSE:MTB) Corp's MTB.N acquisition of Hudson City Bancorp Inc HCBK.O , three years after the deal was first proposed. M&T agreed to buy Hudson City for $3.7 billion in 2012, but the lenders were unable to close the deal because regulators were concerned about M&T's anti-money laundering policies. ID:nL1N1201U3

** Wright Medical Group WMGI.O and Tornier NV TRNX.O have won U.S. antitrust approval for their $3.3 billion merger on condition that they sell assets, related to replacement ankle and toe joints the Federal Trade Commission said. ID:nL1N1201LJ

** Tesco TSCO.L has not discussed any further material overseas sales, Chairman John Allan told a meeting on Wednesday where shareholders approved the UK supermarket group's $6.1 billion sale of its South Korean arm. ID:nL5N11Z194

** Enel Green Power EGPW.MI has agreed to sell all its Portuguese assets to First State Wind Energy Investments for 900 million euros ($1 billion), as the renewable energy group shifts investments to faster-growing markets. ID:nL5N120344

** A unit of Tsinghua Holdings Co Ltd will buy a 15 percent stake in U.S. data storage company Western Digital Corp WDC.O , the latest push by the Chinese state-backed company to access U.S. technology. ID:nL3N1204DZ

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

** Meat substitute company Quorn Foods is to be sold to Philippine consumer goods firm Monde Nissin for 550 million pounds ($831.22 million), its owners said. ID:nL5N120484

** Chip designer Mellanox Technologies Ltd MLNX.O has agreed to acquire network communications chip maker EZchip Semiconductor Ltd EZCH.TA EZCH.O for $811 million as it expands its product portfolio for high-performance computing. ID:nL3N1204DS

** Spanish oil major Repsol REP.MC on Wednesday said it had sold part of its piped gas business to Gas Natural Distribution GAS.MC and Redexis Gas for 652 million euros ($728 million), helping it reach its asset disposal target. ID:nS8N0UR00W

** China's analog chip maker Montage Technology Group Ltd said it has offered to buy Pericom Semiconductor Corp PSEM.O in a deal valued at about $430 million, trumping an offer from Diodes Inc DIOD.O earlier this month. ID:nL3N120496

** Global miner Rio Tinto (LONDON:RIO) RIO.AX said it had agreed to sell its 40 percent stake in the Bengalla coal mine in Australia to New Hope Corp NHC.AX for $606 million, the latest shuffle of Australian coal assets amid a sector-wide downturn. ID:nL3N11Z5R6

** Kazakhstan's state oil and gas company KazMunaiGas (KMG) KMG.UL will sell half its stake in the giant Kashagan oilfield to the country's sovereign wealth fund Samruk-Kazyna SMRKA.UL for $4.7 billion, KMG's head said. ID:nL5N120147

** Debt-laden Glencore GLEN.L may unload all its agricultural assets instead of just a stake, analysts said, but the commodity group is unlikely to expand its divestment programme to include top mines. ID:nL5N1204DX

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

** French books and music retailer Fnac FNAC.PA said it had made a proposal to buy Darty DRTY.L in a deal valuing the electrical goods retailer at 533 million pounds ($808 million) and could create a French market leader in white goods. ID:nL5N1200UP

** Data analytics provider ComScore Inc SCOR.O said it would buy viewership rating company Rentrak Corp RENT.O in an all-stock deal with an implied value of about $771 million to create a comprehensive measurement system for media and ad industries. ID:nL3N11Z53E

** Bahrain-based Investcorp has sold a 9.9 percent stake in itself to a new Gulf-based institutional shareholder for $137.8 million, the investment firm said. ID:nL5N1200Y2

** Kenya's Equity Group EQTY.NR said it had secured regulatory approval to acquire 79 percent of ProCredit Bank Congo, expanding its banking operations into the Democratic Republic of Congo. ID:nL5N1200O4

** Industrial and Commercial Bank of China (ICBC) 601398.SS is scrapping a proposal to buy a $600 million stake in the banking unit of Taiwan's Sinopac Financial Holdings 2890.TW as an expected easing of the island's ownership curbs against Chinese investment has not materialised. ID:nL3N120389

** Activist investor Starboard Value LP disclosed a 3.7 percent stake in automotive parts retailer Advance Auto Parts Inc AAP.N and urged the company consider steps including a "substantial" dividend or buyback. ID:nL3N1204KP

** SGS SGSN.VX said it had bought a 70 percent stake in Chile-based SIGA Ingenería y Consultoria SA, boosting the Swiss testing and inspection firm's presence in Latin America. ID:nFWN120006

** China Eastern Airlines 600115.SS is seeking buyers for its remaining 5 percent stake in loss-making Joy Air, a small domestic airline that has been blighted by safety concerns over its propeller-powered planes. ID:nL3N1201HQ

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

** Mizuho Financial Group Inc 8411.T said it would buy a 16 percent stake in Asia-focused asset manager Matthews International Capital Management LLC. ID:nL3N1201DV

** Australian iron ore miner Rio Tinto RIO.AX said it had agreed to sell a 40 percent stake in its thermal coal mine to New Hope Corp Ltd NHC.AX for $606 million. ID:nL3N11Z5O8

** Some of Perrigo Co (NYSE:PRGO) Plc's PRGO.N top shareholders have asked the Irish generic drugmaker to explore a sale, hoping for an alternative to Mylan NV's MYL.O roughly $25 billion hostile bid, according to people familiar with the matter. ID:nL1N11Z2XD

** Hudson's Bay Co HBC.TO is not interested in merging the businesses of its German Kaufhof department store with that of rival chain Karstadt, the president of HBC International said. ID:nFWN11Z05J

** Portugal's second-largest listed lender, Banco BPI BBPI.LS, plans to spin off its banking assets in Angola and Mozambique into a separate entity to limit its exposure to risks mainly in Angola, BPI said on Wednesday. ID:nP4N0XE00R

** Brown-Forman Corp BFb.N , the maker of Jack Daniel's whiskey, has hired Goldman Sachs Group Inc (NYSE:GS) GS.N to explore the sale of brands that include liqueur labels Southern Comfort and Chambord, according to people familiar with the matter. ID:nL1N11Y2UE ($1 = 0.66 pounds) ($1 = 32.81 Taiwan dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.