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Deals of the day- Mergers and acquisitions

Published 25/05/2016, 08:03 pm
© Reuters.  Deals of the day- Mergers and acquisitions

May 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Wednesday:

** Hewlett Packard Enterprise Co HPE.N said it would spin off and merge its struggling IT services business with Computer Sciences Corp (NYSE:CSC) CSC.N , allowing the company to focus on its cloud services business and other fast-growing units. Toyota Motor Corp 7203.T said it would invest in on-demand ride-hailing company Uber UBER.UL , the latest in a wave of high-profile moves by automakers to embrace their potential upstart rivals as partners, customers and sources of valuable data. Chinese sportswear maker Peak Sport Products 1968.HK , which has several U.S. basketball sponsorship and endorsement deals, said it may be taken private and delist from Hong Kong, joining a growing queue of mainland firms looking to exit the city's stock market. The Singapore Exchange (SGX) SGXL.SI is in exclusive talks with the London's Baltic Exchange about buying the centuries-old shipping industry hub, sources said. More than 90 percent of Norwegian online browser and advertising company Opera Software's OPERA.OL shareholders have backed a Chinese consortium's $1.24 billion takeover bid, clearing a big hurdle for the deal to go ahead, the buyers said. Australia's Telstra Corp Ltd TLS.AX said its $1.6 billion sale of a controlling stake in Chinese website operator Autohome Inc ATHM.N to Ping An Insurance Group Co of China Ltd 601318.SS is being challenged by minority shareholders. CMA CGM CMACG.UL , the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) NEPS.SI after receiving regulatory clearance from China, the French group said. Indonesia's oil and gas company PT Pertamina will sign a framework agreement with Russia's largest oil producer Rosneft ROSN.MM on Thursday for the Tuban refinery project, Pertamina's spokeswoman Wianda Pusponegoro told Reuters. U.S. antitrust officials are investigating Anheuser-Busch InBev ABI.BR over its new incentives that encourage independent distributors to sell more of its own beer brands at the expense of competing craft brews, two people with knowledge of the matter said. France's Sanofi SA SASY.PA is preparing to name candidates it will put forward to replace the entire board of U.S. cancer drug company Medivation Inc MDVN.O as early as Wednesday, according to people familiar with the matter.

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