Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Deals of the day-Mergers and acquisitions

Published 08/01/2019, 08:00 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds QEP Resources , Bandhan Bank, Embraer, Rowan Companies Plc, Petroregional del Lago; Updates Eli Lilly (NYSE:LLY), Dollar Tree)

Jan 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** Eli Lilly and Co LLY.N said it will buy Loxo Oncology Inc LOXO.O for $8 billion, an expensive bet on a pipeline of cancer drugs that target rare genetic mutations and the biggest acquisition in Lilly's 143-year history. IT and consulting services provider DXC Technology Co DXC.N said on Monday it would buy software development company Luxoft Holding Inc LXFT.N for about $2 billion to expand its digital offerings to the financial and automotive sectors. Australian medical centre operator Healius Ltd HLS.AX on Monday rejected a A$1.7 billion ($1.21 billion) buyout approach from China's Jangho Group Co Ltd 601886.SS , denting its shares but leaving investors hoping for a higher offer. Mexican petrochemical company Alpek ALPEKA.MX , a unit of conglomerate Alfa ALFAA.MX , said on Sunday it had agreed to sell two cogeneration energy plants to a subsidiary of London-listed power generator ContourGlobal GLO.L for $801 million. Sanofi SASY.PA will pay Regeneron REGN.O some $582 million in a revision of their deal in immuno-oncology, a growing sector in healthcare research which aims to help the body's own immune system fight cancer. Activist hedge fund Starboard Value LP called on Dollar Tree Inc DLTR.O to sell its underperforming Family Dollar business and proposed replacing a majority of the board after revealing a stake in the U.S. discount retailer. India's Bandhan Bank Ltd BANH.NS will buy mortgage provider Gruh Finance Ltd GRUH.NS in a share-swap deal to build up its housing loan portfolio, the companies said. Hedge fund Elliott Management Corp offered to buy QEP Resources Inc (NYSE:QEP) QEP.N , which has a big presence in the Permian Basin near major energy producers, for $2.07 billion, or $8.75 per share, 44 percent above the stock's closing price on Friday. Brazil's national security adviser Augusto Heleno said that the government is studying if the current deal between planemakers Embraer EMBR3.SA and Boeing (NYSE:BA) BA.N is in its "ideal form" or if it will need to present suggestions. Hedge fund Canyon Capital Advisors warned it would vote against the $2.38 billion sale of offshore driller Rowan Companies Plc RDC.N to rival Ensco Plc ESV.N , casting doubt on a combination that had signaled optimism about the future of offshore exploration. France's Maurel & Prom MAUP.PA will invest $400 million to take a 40 percent stake in a Venezuela oilfield joint venture called Petroregional del Lago, state oil company PDVSA President Manuel Quevedo said.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.