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Deals of the day- Mergers and acquisitions

Published 11/06/2016, 06:09 am
© Reuters.  Deals of the day- Mergers and acquisitions
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(Adds Westlake Chemical Corp, Liberty Global, and others; Updates BP )

June 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1950 GMT on Friday:

** Tesco Plc TSCO.L has agreed the sale of its Turkish business and Giraffe restaurant chain in the United Kingdom as the country's biggest retailer continues its reshaping under Chief Executive Dave Lewis. Yahoo Inc YHOO.O is set to put together a new shortlist of bidders for its core internet assets after several parties, including Verizon Communications Inc (NYSE:VZ) VZ.N and AT&T Inc (NYSE:T) T.N , made second-round offers, people familiar with the matter said. Oil companies BP BP.L and Det norske DETNOR.OL have agreed to merge their Norwegian businesses in a $1.3 billion all-share deal to cut costs, challenge Statoil's STL.OL dominance of the local industry and look for more acquisitions. Westlake Chemical Corp WLK.N has reached a deal to buy chemical producer Axiall Corp AXLL.N for $2.33 billion after a six-month pursuit that included multiple bids and a rival offer from South Korea's Lotte Chemical Corp 011170.KS . Liberty Global LBTYA.O , the owner of Poland's largest cable operator UPC, is in talks to buy UPC's local rival Multimedia to create a business covering half of the Polish cable market, three market sources told Reuters on Friday. Barclays BARC.L has completed the sale of its Spanish pension assets and liabilities to a unit of CaixaBank CABK.MC , the British lender said on Friday. CK Hutchison Holdings 0001.HK and Vimpelcom VIP.O have offered to divest a chunk of spectrum, more than 8,000 network sites and a roaming deal to a small rival in a bid to convince EU regulators to approve their planned Italian mobile merger. Italy's RCS MediaGroup RCSM.MI , which publishes Italy's top-selling newspaper Corriere della Sera, rebuffed on Friday a takeover offer by rival Cairo Communication CAI.MI . PSP Investments, one of Canada's biggest pension funds, said on Friday it had acquired a significant minority stake in Allflex Group, the world's biggest maker of electronic tags for animals, from private equity firm BC Partners. Italian machine manufacturer IMA IMAI.MI is examining various acquisition opportunities, especially abroad and in non-pharmaceutical sectors, but no deal is expected this year, Chairman Alberto Vacchi told Reuters in an interview on Friday. Brazil's government is looking to sell minority stakes in power plants, transmission lines and distribution units of state electricity group Eletrobras ELET6.SA , which is in an "unsustainable" situation, Energy Minister Fernando Coelho said on Friday. Bayer BAYGn.DE ex-chief executive Marijn Dekkers opposed the company's plans for a $62 billion takeover of U.S. seeds firm Monsanto (NYSE:MON) MON.N , German magazine Der Spiegel reported. Chinese e-commerce firm Alibaba (NYSE:BABA) Group Holding Ltd's BABA.N affiliate Ant Financial has bought a fifth of financial data provider Shanghai Suntime Information Technology for around $35 million, a source with direct knowledge of the deal said. Axel Springer SE SPRGn.DE said on Friday it had agreed to buy 93 percent of U.S. digital market data analyst eMarketer for about $242 million, continuing its move into digital media. Hong Kong Life Insurance Ltd, one of the last remaining independent life businesses in the financial center, could be put up for sale in a deal that may fetch about $600 million, people familiar with the matter said. Air New Zealand AIR.NZ agreed to sell nearly 20 percent of Virgin Australia Holdings Ltd VAH.AX in a deal that adds a second Chinese conglomerate to the carrier's boardroom, stoking debate over the politics of foreign investment in a key sector.

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