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Deals of the day-Mergers and acquisitions

Published 21/05/2018, 11:43 pm
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds General Electric (NYSE:GE), Blackstone (NYSE:BX), NextEra Energy, IHS Markit, Fifth Third Bancorp, Comcast, Roper Technologies, APN Outdoor Group, Hitachi; Updates Hyundai)

May 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday:

** General Electric Co GE.N confirmed it was unloading the bulk of its transportation business which makes train engines to Wabtec Corp WAB.N , a U.S. manufacturer of equipment for the rail industry, in a deal valued at about $11.1 billion. Private equity firm Blackstone Group LP BX.N said it would buy U.S. hotel owner LaSalle Hotel Properties LHO.N for $3.7 billion, topping a rival bid from Pebblebrook Hotel Trust PEB.N in April for $3.5 billion. U.S. power company NextEra Energy Inc (NYSE:NEE) NEE.N said it would buy some assets including Gulf Power Co and Florida City Gas from rival Southern Co SO.N for $5.08 billion. Data firm IHS Markit Ltd INFO.O said it will buy smaller rival Ipreo from private equity funds of BlackStone Group LP BX.N and Goldman Sachs (NYSE:GS) GS.N for $1.86 billion to expand its contracts business and shore up its financial services operations. U.S. regional bank Fifth Third Bancorp FITB.O has agreed to buy smaller rival MB Financial Inc MBFI.O in a stock-and-cash deal valued at about $4.7 billion as it looks to expand in Chicago and broaden its middle market customer base. Britain said it was unlikely to refer Comcast's CMCSA.O bid for Sky SKYB.L for a lengthy investigation after an initial review found that the $30 billion offer did not raise public concerns about media ownership. IT services provider Roper Technologies Inc ROP.N said it would buy software company PowerPlan for $1.1 billion in an all-cash deal. Australia's APN Outdoor Group Ltd APO.AX said it had offered to buy media company HT&E's HT1.AX outdoor advertising division, hours after the latter said oOh!media's OML.AX sweetened offer was not in its best interests. Japan's Hitachi is ready to buy U.S. fund Elliott's stake in Ansaldo STS STS.MI to take full control of the Italian rail-signalling company, the head of Hitachi Rail 6501.T said. Australia's BWX Ltd BWX.AX , a marketer of branded skin and hair care products, said it received an unsolicited takeover proposal from two senior company officers in partnership with Bain Capital Private Equity, valuing the company at A$803.4 million ($603.1 million). South Korea's Hyundai Motor Group has shelved a restructuring plan which would have given the son of its aging chairman more control of the conglomerate, following opposition from investors including U.S. hedge fund Elliott Management Corp. Six institutional investors from the United States and Europe are in talks with Kuwait's Noor Financial Investment NOOR.KW to buy a combined 9.59 percent stake in Pakistan's top Islamic lender Meezan Bank AMZN.KA from the Gulf company, sources familiar with the matter said. Japan's Hitachi targets Elliott's stake in Ansaldo STS STS.MI in order to fully control the rail-signalling company, Hitachi Rail Chief Executive was quoted as saying in an Italian paper. Australia's top power producer AGL Energy AGL.AX turned down a A$250 million ($188 million) offer for an ageing coal-fired energy plant from Chinese-owned Alinta Energy and shunned government pleas to keep the facility open beyond 2022. U.S.-based Harbour Energy made a final offer of $10.8 billion for Australia's Santos Ltd STO.AX , hiking its bid for a fifth time in nine months after a steep rise in oil prices and potentially deterring any rival bids. New Zealand's Comvita Ltd CVT.NZ said that talks with an unnamed third party for a possible takeover of the company have ended without a deal due to a "considerable distance" on price, sending its shares tumbling 7 percent. Egypt's Beltone Financial BTFH.CA is seeking a controlling stake in Oragroup, which owns banks in 12 African countries, as the company looks to expand its financial services on the African continent, Beltone said in a statement late on Saturday. U.S. hospital operator HCA Healthcare Inc HCA.N and private equity firm KKR & Co KKR.N have joined forces to make an offer for U.S. physician services provider Envision Healthcare Corp EVHC.N , people familiar with the matter said on Friday.

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