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Deals of the day-Mergers and acquisitions

Published 24/05/2018, 06:09 am
© Reuters.  Deals of the day-Mergers and acquisitions
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(Adds T-Mobile, Gazprom, Mothercare, EDP, Paddy Power ,Royal Golden Eagle; Updates Generali, Comcast, Aretex Capital)

May 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Comcast Corp CMCSA.O confirmed it was preparing a higher, all-cash offer for most of the media assets of Twenty-First Century Fox FOXA.O , setting up a bidding war with rival Walt Disney Co DIS.N , which already has agreed to a $52-billion deal with Fox. A U.S. Senate Committee plans to hold a hearing on June 27 on the proposed $26.5 billion merger of T-Mobile US TMUS.O and Sprint Corp S.N . Portugal's market watchdog has waived a requirement in its takeover rules that will make it easier for China Three Gorges to pursue its bid for utility EDP-Energias de Portugal EDP.LS . Russian oligarch Viktor Vekselberg, who has been placed under U.S. sanctions, has resumed talks about merging his power assets with Gazprom GAZP.MM , three sources familiar with the talks told Reuters. Singapore group Royal Golden Eagle said it had reached a deal to acquire Brazilian pulp maker Lwarcel Celulose Ltda for an undisclosed amount. Paddy Power Betfair PPB.I PPB.L has agreed to merge its U.S. business with fantasy sports company FanDuel to target the U.S. sports betting market that is set to open up in the coming years, the Irish bookmaker said. Mothercare MTC.L has decided a management buyout is "100 percent not" an option in the future, a source familiar with the matter said, after Bloomberg reported that its CEO had proposed one earlier this year. Insurer Generali CEE Holding BV, a part of Italian Generali Group GASI.MI , has agreed to buy Slovenia's third-largest insurer Adriatic Slovenica in a deal worth 245 million euros ($286.85 million) from KD Group. Aretex Capital Partners, a private equity fund that was launched just this year, has agreed to buy Alerian, the developer of the energy benchmark Alerian MLP Index .AMZ , Aretex said in a statement late. Renault RENA.PA and Nissan 7201.T are reviewing the ownership structure of their carmaking alliance but are unlikely to merge into a single listed entity this year or next, Chief Executive Carlos Ghosn said. Barclays Plc BARC.L is not actively exploring a potential merger with rivals, two sources close to the bank said, as speculation mounts about how the British lender plans to defend itself against activist investor Edward Bramson. China's Qumei Home Furnishing Group 603818.SS made an all-cash bid for Norway's Ekornes EKO.OL , valuing the Oslo-listed furniture maker at 5.1 billion Norwegian crowns ($630.75 million), the companies said in a joint statement. Global miner Rio Tinto (LON:RIO) Ltd RIO.AX confirmed it was in discussions to sell its interest in the world's second largest copper mine to Indonesia's state mining holding company Inalum. Thailand's Minor International Pcl MINT.BK said that it acquired a stake in Spain-based NH Hotel Group SA NHH.MC for 192 million euros ($225.79 million) to grow its hospitality footprint in Europe. SoftBank Group Corp 9984.T said it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart IPO- FLPK.N to Walmart (NYSE:WMT) Inc WMT.N , the first public divestment by its Vision Fund. Australia's SeaLink Travel Group Ltd SLK.AX confirmed it received an unsolicited takeover proposal for the firm worth A$480.5 million ($363.64 million) from an undisclosed buyer which it rejected, sending its shares up as much as 12.3 percent. Independent Bank Group Inc IBTX.O said on Tuesday it would buy Guaranty Bancorp GBNK.O for about $1 billion to expand its operations in the state of Colorado. American Equity Investment Life Holding Co AEL.N , a U.S. provider of annuities and life insurance products, is exploring a sale after it attracted takeover interest, people familiar with the matter said on Tuesday. Japan's Mitsui Sumitomo Insurance will take a nearly 40 percent stake in a life insurance unit of a state-owned Chinese bank, the Nikkei reported.

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