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Deals of the day-Mergers and acquisitions

Published 12/12/2015, 08:00 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Culver City, AstraZeneca, Halliburton (N:HAL), 3i , JKX Oil & Gas, Mahindra)

Dec 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** U.S. chemical giants DuPont (N:DD) DD.N and Dow Chemical Co DOW.N agreed to merge in an all-stock deal valuing the companies at $130 billion, with plans to eventually split into three.

** Culver City, California-based jeans company Paige Denim has hired investment bank UBS for a sale that could value the company at more than $400 million, sources familiar with the situation said.

** British drugmaker AstraZeneca Plc AZN.L is in advanced talks to buy privately held cancer drug developer Acerta Pharma BV for more than $5 billion, the Wall Street Journal reported, citing people familiar with the matter.

** Oilfield services provider Halliburton HAL.N will meet EU antitrust regulators next week and is likely to be told about competition worries over its $35 billion bid for Baker Hughes (N:BHI) BHI.N , a person familiar with the matter said on Friday.

** Private equity firms are competing to buy Dutch-based testing company Element Materials Technology from owner 3i III.L , in a deal that could test the dynamics between the US and European debt markets, banking sources said.

** JKX Oil & Gas Plc's JKX.L second-largest shareholder, investment firm Proxima Capital Group Inc, said it had sought a general meeting to replace nearly all of the energy company's management with its nominees.

** Indian automaker Mahindra and Mahindra MAHM.NS is close to signing a deal to buy Italian car designer Pininfarina PNNI.MI , two sources with direct knowledge of the matter said on Friday, the latest purchase of an iconic Italian brand by an Asian company.

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** U.S.-listed energy giants ConocoPhillips (N:COP) COP.N and Chevron Corp (N:CVX) CVX.N plan to sell their interests in a key oil and gas block in Indonesia and the government has received written requests for the same, an energy ministry official said.

** Monsanto (N:MON) Co MON.N , the world's largest seed company, is open to acquisitions in Brazil, where assets have become cheaper as the local currency tumbled, its top executive in the country said on Thursday.

** French utility Engie ENGIE.PA is considering the sale of its thermal power generation plants in the United States, deputy chief executive and chief operating officer Isabelle Kocher said on Friday. Bryan Garnier analysts estimated Engie could raise 2.7-4.5 billion euros ($3.0-4.9 billion) from a sale.

** Mining and trading giant Glencore GLEN.L has provisionally agreed to sell its troubled South African coal mine for 2.15 billion rand ($136.11 million)narrowly avoiding closing the operation and saving hundreds of jobs, the unit's business rescue practitioners said.

** Seeds and chemical maker Dow Chemical Co DOW.N said it would assume full control of Dow Corning, its joint-venture with Gorilla glass maker Corning Inc GLW.N . Corning said it will swap its stake in Dow Corning for $4.8 billion in cash and a stake in chip company Hemlock Semiconductor Group, a venture of Dow Corning.

** Chinese e-commerce giant Alibaba (N:BABA) Group Holding Ltd BABA.N said it would buy publisher SCMP Group Ltd's 0583.HK media assets, including the South China Morning Post newspaper.

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** Shareholders of financial services provider Towers Watson & Co TW.O and insurance broker Willis Group Holdings WSH.N voted to approve their merger, the companies said in a statement.

** Two Taiwanese chip testing and packaging firms said Tsinghua Unigroup Ltd will buy stakes in them for $2 billion in total, the latest step by the Chinese state-backed technology conglomerate towards a goal of becoming a major global semiconductor player.

** Renault RENA.PA and Japanese affiliate Nissan 7201.T struck a deal with France to end an eight-month dispute over the state's increased influence on their carmaking alliance, sources with knowledge of the matter said following a Renault board meeting.

** Auto dealership China Grand Automotive Services Co Ltd 600297.SS purchased a controlling stake in luxury car dealer Baoxin Auto Group Ltd 1293.HK for HK$8.2 billion ($1.06 billion), Baoxin disclosed to the Hong Kong Stock Exchange.

** Indonesia's Salim Group, headed by the country's third-richest man Anthoni Salim, is raising $1 billion from a group of private equity firms including Northstar Group and TPG TPG.UL partly to repay debt, two people with knowledge of the matter said.

** Australia's CIMIC Group Ltd CIM.AX has won a A$1.3 billion ($944 million) contract to continue running operations at the Lake Vermont coal mine in the state of Queensland, the contract miner said on Friday.

** Malaysia's Felda Group still plans to buy 37 percent of PT Eagle High Plantations Tbk PT BWPT.JK in a restructured deal, a managing director of the Indonesian firm's parent company said.

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** SunEdison Inc SUNE.N said it would sell 333 megawatts (MW) of wind-power assets for $209 million to a partnership of the U.S. solar company and investors advised by JP Morgan Asset Management Ltd.

** Drugstore operator Walgreens Boots Alliance Inc WBA.O and Rite Aid Corp RAD.N said the Federal Trade Commission had asked them for more information about Walgreens' proposed acquisition of its smaller rival.

** China's State Council has approved a merger of the country's two biggest shipping conglomerates, China Ocean Shipping (Group) Co COSCO.UL and China Shipping Group Co CNSHI.UL , the state asset supervisor said on its website on Friday.

** GP Investments Ltd GPIV33.SA , the largest Latin American buyout firm, is offering up to 1.87 billion reais ($487 million) for control of BR Properties SA BRPR3.SA , the real estate company that embattled investment bank Grupo BTG Pactual SA BBTG11.SA is exiting amid efforts to divest assets.

** Serbia's government on Friday rejected as too low all offers for a majority stake in telecoms provider Telekom Srbija, the second major privatisation attempt to fail in the Balkan country this year.

** An unidentified investor raised around 530 million reais ($140 million) from the sale of about 60 million shares in BR Properties SA BRPR3.SA , one of Brazil's largest commercial real estate firms, traders said on Thursday.

** Taiwan's Eastern Media International Corp 2614.TW said on Friday it will sell its 21.32 percent stake in Eastern Broadcasting Corp (EBC) to U.S. filmmaker Dan Mintz for T$3.9 billion ($118.96 million), joining Carlyle Group LP CG.O in exiting the investment.

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** Swedish ski resort operator SkiStar AB SKISb.ST intends to buy 68 percent of Austrian ski resort St Johann and will also look to buy the remaining shares at a later stage, its chief executive said on Friday. urn:newsml:reuters.com:*:nFWN13Z022 ($1 = 0.9130 euros) ($1 = HK$7.75) ($1 = T$32.79) ($1 = 15.7966 rand)

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