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Deals of the day-Mergers and acquisitions

Published 27/11/2018, 08:00 am
© Reuters.  Deals of the day-Mergers and acquisitions
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(Adds Bayer, Rheinmetall , AccorHotels, Deutsche Telekom, WPP, Paychex, HSH Nordbank; Updates Rio Tinto , Faroe Petroleum )

Nov 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** Bayer BAYGn.DE will discuss selling certain consumer health brands at a supervisory board meeting this week and will also review options for its animal health division, people close to the matter said. Rheinmetall RHMG.DE said it was in talks about buying a stake in rival KMW and Nexter Defense Systems N.V. France's AccorHotels ACCP.PA plans to buy the rest of Poland's Orbis ORBP.WA for 1.9 billion zlotys ($501 million) to strengthen its position in Central Europe. EU antitrust regulators will approve Deutsche Telekom's DTEGn.DE bid to acquire Swedish peer Tele2's TEL2b.ST Dutch unit without demanding concessions from Europe's largest telecoms operator, people familiar with the matter said. WPP WPP.L said it would merge its famous JWT agency with its digital outfit Wunderman in the most eye-catching effort yet by the world's biggest advertising group to simplify its business. Payroll processor Paychex Inc PAYX.O said it plans to buy Oasis Outsourcing Acquisition Corp for $1.2 billion in cash to expand its human resources outsourcing services. EU state aid regulators approved the sale of German lender HSH Nordbank HSH.UL to private equity funds J.C. Flowers and Cerberus CBS.UL , saying the sale did not involve public support. India's debt-laden Infrastructure Leasing & Financial Services (IL&FS) said it received more than a dozen expressions of interest for its stakes in subsidiaries IL&FS Securities Services and ISSL Settlement & Transaction Services. Britain's Faroe Petroleum FPM.L rejected a 608 million pound ($781 million) hostile bid by DNO DNO.OL , which it said substantially undervalued the Aberdeen-based firm. British regional airline Flybe Group Plc's FLYB.L shares surged 40 percent after the Sunday Telegraph reported that Richard Branson-founded Virgin Atlantic and British Airways owner IAG ICAG.L will battle it out to buy airline. Alps Electric Co's 6770.T stock jumped 8 percent after the firm promised a share buyback of about 40 billion yen ($353 million) to win support for an acquisition - a pledge backed by Elliott Management, a stakeholder in both suitor and target. Credit Agricole CAGR.PA is not planning to acquire German peer Commerzbank CBKG.DE , the chief executive officer of the French bank told daily Frankfurter Allgemeine Zeitung. Greece's third-largest lender Eurobank EURBr.AT is offering 15.8 of its shares for every one share of real estate firm Grivalia Properties GRIr.AT in an agreed acquisition via a share exchange, the bank said. New Hope Corp Ltd NHC.AX will buy a further 10 percent stake in the Bengalla thermal coal mine in Hunter Valley, New South Wales from Japan's Mitsui & Co Ltd 8031.T for A$215 million ($155.7 million), the Australian coal miner said. Private equity firm General Atlantic has led a $120 million investment and acquired a minority stake in Middle East real estate classifieds website Property Finder. Rio Tinto RIO.AX RIO.L will sell its 69 percent stake in a Namibian uranium mine to China National Uranium Corp (CNUC) for up to $106.5 million, it said, as China seeks to bolster supplies and Rio offloads less-profitable assets. Japan's Daikin Industries Ltd 6367.T said it would buy Austria-based AHT Cooling Systems for 881 million euros ($1 billion) as it seeks global growth outside the maturing air-conditioning business in the developed world. Logitech International SA LOGN.S , a Swiss manufacturer of keyboards and webcams, said it has terminated discussions to acquire Plantronics Inc PLT.N , a U.S. maker of Bluetooth earpieces and gaming headsets.

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