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Deals of the day-Mergers and acquisitions

Published 15/11/2019, 09:15 am
Updated 15/11/2019, 09:21 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds G4S (CSE:G4S), Shell, Callon Petroleum, Eurazeo, Altice, Telecom Italia , ProSiebenSat.1, Houlihan, China Mengniu Dairy Co)

Nov 14 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2200 GMT on Thursday:

** Australia has conditionally approved China Mengniu Dairy Co's 2319.HK A$1.43 billion ($980.27 million) takeover of infant formula maker Bellamy's Australia Ltd BAL.AX , Treasurer Josh Frydenberg said on Friday. A U.S. bankruptcy judge approved a process for the sale of the Philadelphia Energy Solutions oil refinery, the largest and oldest on East Coast, under which city officials and a trade union will consult on the matter. European investment firm Eurazeo EURA.PA is exploring a partial or full sale of its near 30% stake in Europcar Mobility Group EUCAR.PA as it seeks to cash out from the troubled French car rental company, sources told Reuters. The sale of Altice's ATCA.AS Portuguese fiber optic network is expected soon and is likely to be a minority stake of 40%-49%, company executives said. Telecom Italia TLIT.MI plans to sell a stake in the mobile mast business it is creating in Italy with rival Vodafone VOD.L to infrastructure funds, the Italian group's chief executive officer said. German broadcaster ProSiebenSat.1 PSMGn.DE is more interested in collaborating in digital growth areas than in a full-blown merger, Chief Executive Officer Max Conze said after Italy's Mediaset MS.MI raised its shareholding. The casual dining chain Houlihan's filed for bankruptcy protection, unable to overcome limited liquidity and high rents despite recent above-average growth, and plans to sell itself to rival Landry's in a court-supervised auction. U.S. shale producer Callon Petroleum CPE.N sharply cut its offer for rival Carrizo Oil & Gas CRZO.O , and postponed a shareholder vote in a last ditch effort to win support for the deal. Greece plans to sell billions of euros of social security contributions owed to its pension fund to private investors to get cash upfront and facilitate recovering other receivables, senior government officials told Reuters. Russia's competition watchdog said it had decided to delay by three months Shell's RDSa.L purchase of 9.3 billion roubles ($145.73 million) worth of shares in a subsidiary of Russian oil producer Gazprom (MCX:GAZP) Neft SIBN.MM . Norway's $1.1 trillion wealth fund can no longer invest in G4S GFS.L because of the "unacceptable risk" that the security services company contributes to, or is responsible for human rights violations, the central bank said. Activist investor Carl Icahn has invested $1.2 billion in HP Inc (NYSE:HPQ) HPQ.N and is pushing for the personal computer maker's merger with printer maker Xerox Corp (NYSE:XRX) XRX.N , arguing that a union could yield big profits for investors, the Wall Street Journal reported. SoftBank's Yahoo (NASDAQ:AABA) Japan is in talks to merge with messaging app operator Line Corp (NYSE:LN) 3938.T to create a $27 billion tech giant and help the Japanese conglomerate expand e-commerce and payments services. Instruments maker Thermo Fisher Scientific Inc (NYSE:TMO) TMO.N has approached genetic testing specialist Qiagen NV QIA.DE , QGEN.N about a potential deal, Bloomberg reported on Wednesday, citing people with knowledge of the matter. Brazil's second-largest private sector lender Banco Bradesco SA BBDC4.SA will spin off its digital bank, Next, by March 2020, Chief Executive Octavio de Lazari told analysts. American Outdoor Brands Corp AOBC.O said it would split into two publicly traded companies, separating its outdoor products and firearms businesses.

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