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Deals of the day- Mergers and acquisitions

Published 10/05/2016, 06:05 am
Updated 10/05/2016, 06:05 am
© Reuters.  Deals of the day- Mergers and acquisitions

© Reuters. Deals of the day- Mergers and acquisitions

(Adds Medivation , Telecom Italia and others)

May 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1400 GMT on Monday:

** Buyout group Equistone has put German artificial leather maker Konrad Hornschuch up for sale in a potential 400 million euro ($456 million) deal, people familiar with the transaction said. Slovenian Sovereign Holding (SDH) and three other mostly state-owned firms put their joint stake of 55 percent in metal products maker Unior up for sale on Monday. Freeport-McMoRan Inc FCX.N has agreed to sell its majority stake in the Tenke copper project in the Democratic Republic of Congo to China Molybdenum Co Ltd (CMOC) 603993.SS for $2.65 billion in cash, handing the Chinese company one of the world's most prized copper assets. Krispy Kreme Doughnuts Inc KKD.N will be taken private by JAB Holding Co for about $1.35 billion, the second buyout of a U.S. food company by the German investment firm in just over two months. Buyout group Cinven CINV.UL is preparing a sale of German residential and technical lighting products maker SLV in a potential 800 million euro ($911 million) deal, people familiar with the matter said. U.S. cancer drug maker Medivation Inc MDVN.O has decided to explore a sale following a $9.3 billion acquisition offer from France's Sanofi SA SASY.PA and interest from other companies, people familiar with the matter said on Monday. French oil company Total SA TOTF.PA plans to make a bid for battery manufacturer Saft Groupe SA S1A.PA , extending its push into new energy technologies, the companies said in a joint statement. Total will offer 36.5 euros per Saft share, ex-dividend of 0.85 per share, valuing Saft's equity at 950 million euros. Telecom Italia TLIT.MI has made a formal offer to buy fibre network company Metroweb in a deal valuing the Italian company at more than 820 million euros ($933 million), a source close to the matter said on Monday.

** South Korea's Hyundai Heavy Industries Co Ltd 009540.KS , the world's biggest shipbuilder by revenue, will slash more jobs and sell non-core assets as part of efforts to cope with shrinking orders, it said on Monday.

South Korean newspaper MoneyToday said the shipbuilder planned to sell about 1 trillion won's ($855 million) worth of stocks it owns, and other assets such as golf memberships and property and buildings. Newspaper publisher Tribune Publishing Co TPUB.N said its board had adopted a shareholder rights plan - popularly known as a "poison pill" - in a bid to thwart Gannett Co (NYSE:TGNA) Inc's GCI.N unsolicited takeover offer. Medicines Co MDCO.O is selling some of its cardiovascular drugs to Italy's Chiesi Farmaceutici SpA for up to $792 million as the U.S. company looks to raise money for drug development. German engineering group Voith VOITH.UL has agreed to sell its industrial services business unit to buyout group Triton to free up capital for planned investments into digitalized offerings. Two people familiar with the matter said that the business was sold at a valuation of 350 million euros ($342 million), including debt. Malaysian utility Tenaga Nasional Bhd TENA.KL , backed by sovereign wealth fund Khazanah Nasional KHAZA.UL , will buy a 30 percent stake in the energy unit of indebted Indian infrastructure group GMR Infrastructure Ltd GMRI.NS for $300 million in cash, the companies said. HCP Inc (NYSE:HCP) HCP.N , a real estate investment trust (REIT) focused on healthcare, said it would spin off its skilled nursing and assisted living properties into a publicly-traded REIT. Glencore Plc GLEN.L has emerged as the top shareholder of embattled Australian iron ore miner Atlas Iron Ltd AGO.AX after a debt-to-equity transaction, giving the global mining and trading company its only direct exposure to production of the steelmaking ingredient. Italian steel group Marcegaglia has made an offer for Italy's Ilva steel plant along with the world's number one steel producer ArcelorMittal SA ISPA.AS , Marcegaglia's chief executive said on Monday. European private equity firm Argus Capital is in talks to sell its stake in Turkish packaging company Kalenobel, three sources have told Reuters, as the country's fast-growing packaging industry draws investors. Japan's investment banking boutique GCA Savvian Corp 2174.T is merging with European peer Altium to increase the reach of its technology-focused advisory services. ($1 = 0.88 euros) ($1 = 1,169 won)

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