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Deals of the day- Mergers and acquisitions

Published 13/10/2015, 10:01 pm
© Reuters.  Deals of the day- Mergers and acquisitions
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Oct 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Tuesday:

** SABMiller SAB.L accepted a takeover proposal at the fifth time of asking after Anheuser-Busch InBev ABI.BR , the world's largest brewer, set out a cash-and-share package currently worth 69 billion pounds ($106 billion).

** The British government has sold the remainder of its stake in postal service company Royal Mail RMG.L , earning 591.1 million pounds ($907.87 million) from its 13 percent holding and opting to gift its remaining 1 percent stake to Royal Mail staff.

** Kenya's central bank said it had appointed the state's Kenya Deposit Insurance Corporation (KDIC) to take over management of the privately held Imperial Bank "in the interest of its depositors, creditors and members of the public" for 12 months because of "unsafe or unsound business conditions" at the lender.

** British payments processor Worldpay Group WPG.L listed on the London Stock Exchange on Tuesday in an initial public offering valuing the company at 4.8 billion pounds ($7.4 billion), the biggest flotation in London this year.

** China Huarong Asset Management Co Ltd's initial public offering will seek to raise up $2.8 billion, its indicative price range shows, marking the biggest Hong Kong listing in 10 months as investors venture back into equities after a market slump this year.

** Chinese construction equipment maker Sunward Intelligent Equipment Co 002097.SZ said it has bought Canadian aviation services provider Avmax Group to diversify into aviation, amid a sustained downturn in the construction machinery market.

** Swedish paper and hygiene products maker SCA SCAb.ST said it had agreed to buy U.S. tissue maker Wausau Paper Corp WPP (L:WPP).N for $513 million in cash, in another step to focus on products ranging from tissues to incontinence protection.

** Poland's top refiner, the state-controlled PKN Orlen PKN.WA , said it has launched takeover bids for Canada's Kicking Horse Energy KCK.V and Nasdaq-listed FX Energy FXEN.O , worth a total of over $300 million.

** OnCard International Ltd ONC.AX , a loss-making Australian loyalty scheme company with a market value of $7 million, said it is examining making a bid for one of the country's biggest dairy producers in an attempt to diversify into the dairy business.

** Spanish builder ACS ACS.MC has bought a 5.8 percent stake in Hochtief HOTG.DE to raise its holding in the German group to 66.54 percent.

** iSelect Ltd ISU.AX , the Australian operator of an insurance comparison website, said it received a takeover approach from an unnamed "well-credentialed international private equity firm".

** The Irish Takeover Panel said it had rejected Perrigo Company Plc's PRGO.N request to declare Mylan NV's MYL.O unsolicited tender offer lapsed.

** Privately owned Czech energy group EPH has teamed up with the country's biggest investment group PPF to bid for a portfolio of German lignite and hydro power stations being sold by Sweden's Vattenfall, EPH said.

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