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Deals of the day-Mergers and acquisitions

Published 18/09/2017, 08:11 pm
Updated 18/09/2017, 09:00 pm
© Reuters.  Deals of the day-Mergers and acquisitions

© Reuters. Deals of the day-Mergers and acquisitions

Sept 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday:

** Struggling retailer Sears Canada Inc's SRSCQ.PK top executive is negotiating a private-equity backed deal that could be valued at more than C$650 million ($533 million), the Wall Street Journal reported, citing people familiar with the matter. Brazilian renewable energy company Renova Energia SA RNEW11.SA has extended the deadline for exclusivity talks with a unit of Canada's Brookfield Asset Management for a capital injection to Oct. 17 AT&T (NYSE:T) T.N is evaluating a sale of its pay TV operations in Latin America as it seeks to pay down debt following its planned $85.4 billion acquisition of Time Warner Inc (NYSE:TWX) TWX.N , people familiar with the matter said. Chinese payments company Ant Financial is planning to resubmit its application for U.S. review of its deal to buy MoneyGram International Inc MGI.O for $1.2 billion, a source familiar with the matter said. Zhongwang USA, an investment firm backed by a Chinese aluminium tycoon, and its acquisition target Aleris Corp ALSD.PK have decided to extend a deadline to complete their merger by two weeks, according to representatives of the two companies. Chinese brokerage First Capital Securities Co Ltd 002797.SZ denied that a unit of e-commerce firm JD.com JD.O was in talks to purchase a 24 percent stake. Shanghai Fosun Pharmaceutical Group 600196.SS is trimming the size of the stake it will buy in India's Gland Pharma to 74 percent for $1.1 billion, in a bid to salvage the stalled deal that would be the biggest takeover by a Chinese firm in India. O.G. Oil & Gas Ltd's Singapore unit intends to buy a 65.7 percent stake in New Zealand Oil & Gas Ltd, it said in a notice. U.S. defense contractor Northrop Grumman Corp (NYSE:NOC) NOC.N is poised to announce a purchase of missile and rocket maker Orbital ATK Inc OA.N as soon as Monday, a person familiar with the transaction said. Two Australian media moguls have lost a court challenge to CBS Corp (NYSE:CBS)'s CBS.N planned buyout of bankrupt television broadcaster Ten Network Holdings Ltd TEN.AX , giving the U.S. media giant a strong upper hand ahead of a creditor vote. Wenner Media WENNM.UL said it is exploring strategic options for its majority interest in the Rolling Stone magazine, as the New York-based publisher continues to shift from its print media business amid falling ad revenues. The Villar Mir family, which holds a 51 percent stake in Spanish builder OHL OHL.MC , is in advanced talks to sell the company to China State Construction Engineering, online newspaper El Confidencial said. Major shareholder Kuwait Investment Authority has hired Bank of America (NYSE:BAC) BAC.N as a consultant to conduct feasibility study on potential merger of Kuwait Finance House KFIN.KW and Bahrain-based Ahli United Bank AUBB.BH , Kuwaiti newspaper al-Rai reports citing sources. Kenya's Nakumatt Supermarkets has entered a merger with local retailer Tuskys to help it deal with severe cash flow problems that have left it with empty shelves and led to the closure of some outlets, Nakumatt's managing director said. Australia and New Zealand Banking Corporation ANZ.AX said Baoshan Iron & Steel Co 600019.SS would buy part of its stake in Shanghai Rural Commercial Bank Co SHRCB.UL , rather than Shanghai Sino-Poland Enterprise Management Development Corp.

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