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Deals of the day-Mergers and acquisitions

Published 30/05/2018, 06:00 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Updates Bayer, Ningbo; Adds BW LPG, Petroleo Brasileiro)

May 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Britain's competition regulator set out more detail about what it intends to examine in its investigation of the tie-up between the retail power units of energy companies SSE SSE.L and Innogy's IGY.DE Npower. The independent board of South African construction group Murray & Roberts MURJ.J rebuffed the latest takeover bid offer by German investment house ATON, potentially setting the stage for another round of protracted wrangling. Russia's state railway monopoly Russian Railways (RZhD) has put up for sale its railcar leasing unit TransFin-M and its subsidiary Absolut Bank and is in discussions with potential buyers, according to three sources briefed on the sale talks. Japanese drugmaker Takeda Pharmaceutical Co Ltd 4502.T faces demands from disgruntled shareholders to put to a vote its $62-billion acquisition of London-listed Shire SHP.L and do more to assuage concerns over the record-breaking deal. Bayer BAYGn.DE won U.S. approval for its planned takeover of Monsanto (NYSE:MON) MON.N after agreeing to sell about $9 billion in assets, clearing a major hurdle for the $62.5 billion deal that will create by far the largest seeds and pesticides maker. Investment firm KKR KKR.N confirmed it would buy BMC Software from owners including Bain Capital and Golden Gate Capital, adding to a series of bets it has made on companies which provide software and IT systems for corporations. Alibaba (NYSE:BABA) Group Holding Ltd BABA.N said it has led a consortium of investors to buy about 10 percent of Chinese courier ZTO Express (Cayman) Inc ZTO.N for $1.38 billion, as part of the e-commerce firm's push into offline services. India's cash-strapped Fortis Healthcare Ltd FOHE.NS laid out plans for a fresh bidding process, after it became the subject of a bidding war by suitors seeking to cash in on an expected boom in India's private healthcare market. Auto supplier Ningbo Jifeng Auto Parts 603997.SS is aiming to buy German rival Grammer GMMG.DE in an agreed deal at a time when Chinese takeovers face increased scrutiny from German and European authorities eager to protect domestic know-how. German seed seller KWS Saat KWSG.DE has made a rival offer for Bayer's BAYGn.DE vegetable seed business, a unit Bayer had agreed to sell to BASF BASFn.DE as part of its planned merger with Monsanto MON.N . China's Ningbo Jifeng Auto Parts Co Ltd 603997.SS is offering to guarantee jobs for 7-1/2 years as part of its proposed takeover of German automotive supplier Grammer GMMG.DE , two people familiar with the matter told Reuters. British sandwich and coffee shop chain Pret A Manger was sold for $2 billion to an investment fund of Germany's billionaire Reimann family, as part of a global acquisition spree aimed at challenging Nestle NESN.S in the coffee sector. U.S. real estate investment company Prime Opportunities Investment Group said IWG Plc IWG.L had rejected its offer approach for the British serviced office provider. Chinese e-commerce giant Alibaba Group Holding Ltd BABA.N will inject some of its online pharmacy business into a listed unit in a deal valued at HK$10.6 billion ($1.35 billion), the firm said in a statement. Australia's South32 Ltd S32.AX said it has agreed to buy a 50 percent stake in the Eagle Downs metallurgical coal project in Queensland state from state-owned China BaoWu Steel Group for an upfront payment of $106 million. Australian lithium miner Galaxy Resources Ltd GXY.AX agreed to sell a package of mining tenements in Argentina to South Korean steelmaker POSCO 005490.KS for $280 million. British broadcaster ITV Plc ITV.L is considering entering into a joint venture valued at 1 billion pounds ($1.33 billion) with BBC to acquire half of broadcaster UKTV, the Telegraph newspaper reported. The world's largest liquid petroleum gas (LPG) shipper, Norway's BW LPG BWLPG.OL , is offering to buy competitor Dorian LPG LPG.N in a $1.1 billion all-stock deal in an effort to boost its earnings in a weak market, it said in a statement on Tuesday. Petroleo Brasileiro SA PETR4.SA and Brazil's government are "very close" to resolving a long-running dispute over an oil-rich offshore area, a deputy minister said, dismissing concerns a fuel pricing crisis had emerged as an obstacle in talks.

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