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Deals of the day-Mergers and acquisitions

Published 04/07/2019, 06:10 am
Deals of the day-Mergers and acquisitions
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(Adds Osram, Santander, updates CBRE Group Inc (NYSE:CBRE), Mediaset )

July 3 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** German lighting group Osram OSRn.DE said that its supervisory board would meet soon to review a binding offer from private equity firms Bain and Carlyle CG.O to buy the company for 3.4 billion euros ($3.8 billion). Spain's Santander SAN.MC has reached an agreement with the billionaire Reuben brothers to buy back its headquarters in Madrid, sources with knowledge of the matter said. Mindtree Ltd MINT.NS said that conglomerate Larsen & Toubro Ltd LRTI.NS has acquired a 60.06% stake in the Indian IT services company. Australia's biggest supermarket chain Woolworths Group Ltd WOW.AX said it will combine and spin off its drinks and pubs units to focus on its core business, cutting back its contentious involvement in poker-machine gambling. Chipmaker Broadcom Inc AVGO.O is in advanced talks to buy cybersecurity firm Symantec Corp SYMC.O , according to sources familiar with the matter, as Broadcom seeks to diversify beyond semiconductors. Energy distributor UGI Corp UGI.N said on Tuesday it would buy some assets of Columbia Midstream Group from pipeline operator TC Energy Corp TRP.TO for about $1.28 billion to expand its midstream business. U.S. real estate firm CBRE Group Inc CBRE.N said it would buy British property developer Telford Homes Plc TELF.L for about 267 million pounds ($336 million) in a bid to expand into Britain's apartment rental market. Student housing provider Unite UTG.L is to acquire rival Liberty Living Group in a 1.4 billion pounds ($1.76 billion) cash and shares deal that will see Canada's Pension Plan Investment Board take a 20 percent stake in the enlarged group. South African open pit mining firm Afrimat Limited AFTJ.J has withdrawn its offer to buy Australian-listed Universal Coal plc UNV.AX given the size and complexity of the transaction, it said on Wednesday. Polymer maker Synthomer Plc SYNTS.L said on Wednesday it has agreed to buy Omnova Solutions Inc OMN.N for an enterprise value of $824 million in a bid to strengthen its global position. Israel-focused gas driller Energean ENOG.L has emerged as the frontrunner in the race to acquire Italian energy group Edison's EDNn.MI oil and natural gas unit, two sources directly involved in the deal said. Vocus Group Ltd VOC.AX on Wednesday said it has split its operations into three independent units, a move one analyst said would likely attract prospective buyers after two suitors last month dropped bids to take over the entire company. ** Italian broadcaster Mediaset MS.MI kept its door open to a possible merger with German equity partner ProSiebenSat.1 Media PSMGn.DE but said the Italian group's plan to create a pan-European media alliance took priority.

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