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Deals of the day-Mergers and acquisitions

Published 18/05/2017, 08:18 pm
Updated 18/05/2017, 08:20 pm
© Reuters.  Deals of the day-Mergers and acquisitions

May 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Thursday:

** Australia's oldest newspaper publisher Fairfax Media Ltd FXJ.AX on Thursday said it has received a takeover bid worth as much as A$2.87 billion ($2.13 billion) from a second U.S. private equity firm, sending its shares sharply higher. British laundry services group Berendsen BRSN.L rejected on Thursday a revised, 2 billion pound ($2.6 billion) offer by French peer Elis ELIS.PA , saying it did not reflect value being added by the UK firm's expansion and modernisation plans. South Africa's Tsogo Sun Holdings TSHJ.J has sold 29 hotels to Hospitality Property Fund HPBJ.J for a 3.6 billion rand ($268 million) mix of cash and shares, the companies said on Thursday. Czech utility CEZ's CEZP.PR supervisory board decided against the sale of the 1,000 MW Pocerady coal-fired power plant to rival Czech Coal on Thursday, CTK news agency reported, citing the board's chairman. Alitalia CAITLA.UL went on the auction block on Wednesday, as Italy kicked off the process of finding a buyer to save the money-losing flag carrier. Thai telecom company Intouch Holdings Pcl INTUCH.BK on Thursday said its venture capital arm plans to finalize two deals by mid-year. Japanese automotive chip maker Renesas Electronics Corp 6723.T said on Thursday that stockholders including state-run fund Innovation Network Corp of Japan (INCJ) planned to sell a combined 16.5 percent of its shares. Russia plans to sell part of state shipping firm Sovcomflot next month, hoping to draw in a wide range of small-stake investors rather than a strategic buyer who could threaten Moscow's control of the group, banking and industry sources say. OneWeb, the U.S. satellite startup backed by Japan's SoftBank Group Corp 9984.T , has increased its merger proposal for Intelsat SA I.N by offering Intelsat's creditors a smaller discount for their bonds than it had before.

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