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Deals of the day- Mergers and acquisitions

Published 25/02/2016, 08:03 am
© Reuters.  Deals of the day- Mergers and acquisitions

(Adds Honeywell, Caterpillar , Deutsche Boerse, Terex, Eni, Prysmian , OANDA)

Feb 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Honeywell International Inc (N:HON) HON.N is seeking a buyer for its building solutions business, the Wall Street Journal reported, adding that the business could fetch $3 billion to $4 billion. Caterpillar Inc (N:CAT) CAT.N said it will combine two divisions dealing with power and energy, adding more detail to a restructuring plan announced last year that it aims to complete by June. U.S. crane maker Terex Corp TEX.N has told Chinese peer Zoomlion 000157.SZ to sweeten its $3.3 billion offer in order for it to abandon its merger agreement with Finland's Konecranes KCR1V.HE , according to people familiar with the matter. Co-operative Bulk Handling Ltd (CBH), Australia's largest wheat exporter, said it was concerned a buyout offer from a consortium backed by rival GrainCorp Ltd GNC.AX could lead to an eventual full takeover by the east coast grain handler. Europe's largest insurer Allianz ALVG.DE has put its South Korean life insurance business on the block as part of a global overhaul in a tough low-interest rate environment, sources with direct knowledge of the matter said. Deutsche Boerse DB1Gn.DE Chief Executive Carsten Kengeter would become the chairman of a holding company created by the possible merger of the LSE Group LSE.L and the German exchange operator, sources familiar with the matter said. The board of Japan's Sharp Corp 6753.T began a two-day meeting on Wednesday to decide if it should accept a $5.9 billion takeover bid from Taiwan's Foxconn over an offer from a state-backed fund. BlackBerry BBRY.O BB.TO said that it has acquired U.K.-based cyber security consultancy Encription, moving the company deeper into the services business as it continues to morph into a more software-focused entity amid its ongoing turnaround. South Africa will explore merging two of its state-owned airlines, South African Airways (SAA) and SA Express, and seek a minority equity partner for the company, Finance Minister Pravin Gordhan said on Wednesday. Vonovia VNAn.DE has no plans to start pursuing Deutsche Wohnen DWNG.DE again following a 12-month period during which it is not allowed to do so, the real estate company's Chief Executive Rolf Buch said. Vonovia earlier this month failed in its 9.9 billion euro ($10.9 billion) hostile bid for Deutsche Wohnen, ending a drawn-out and acrimonious battle. BeIn Media Group is optimistic of agreeing a deal to buy Californian film studio Miramax, the Qatari firm's deputy chief executive told Reuters. New World Resources ' NWRR.L NWRR.PR majority owner has agreed to give up its shares, leaving control of the struggling Czech coal miner to bondholders during a restructuring needed to survive. Appliance maker Electrolux ELUXb.ST will focus on acquisitions in emerging markets and its lucrative professionals business after its failed bid for GE Appliances, the Swedish firm's new CEO said on Wednesday. Italy's Eni ENI.MI said it has won approval from the Mozambique government to build its planned Coral floating liquefied natural gas plant. Italy's Prysmian PRY.MI is in talks to sell a stake in a small high-voltage joint venture in China, the cable maker's CFO Pier Francesco Facchini said. Online currency broker OANDA announced that the company has acquired all of the foreign exchange trading accounts of IBFX, Inc, also known as TradeStation Forex. Chinese developer Country Garden Holdings Co Ltd 2007.HK said it was studying a deal to buy the insurance business of Hong Kong's Dah Sing Financial Holdings 0440.HK . French waste and water group Suez Environment SEVI.PA said it would remain focused on its core waste and water business and denied it had plans to take over parent company Engie's energy services unit Cofely. Suez Environment SEVI.PA is looking at the possible acquisition of Spanish public cleaning and waste disposal group Urbaser but has made no commitment, its chief executive said on Wednesday. Singapore sovereign wealth fund GIC agreed to invest 5.2 trillion rupiah ($387 million) in PT Trans Retail, the retail arm of Indonesian conglomerate CT Corp, which operates stores under the Carrefour (PA:CARR) and TRANSmart brands. An improved performance from its telecoms business helped French conglomerate Bouygues BOUY.PA to beat operating profit forecasts last year, strengthening its hand in merger talks with larger rival Orange ORAN.PA . Venezuela's state oil company PDVSA PDVSA.UL is about to clinch a deal for India's Oil and Natural Gas Corp Ltd ONGC.NS to invest some $500 million in their San Cristobal joint venture, the South American company's president said on Tuesday. Investment firm Fintech launched a bid on Tuesday for Class B shares of Telecom Italia (MI:TLIT)'s Argentine unit listed on the Buenos Aires Merval .MERV stock exchange, the company said in a statement.

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