Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Deals of the day-Mergers and acquisitions

Published 07/12/2019, 08:14 am
© Reuters.  Deals of the day-Mergers and acquisitions
DIS
-
MMM
-
SRENH
-
III
-
3IN
-
EIGE
-
NCM
-
ALXN
-
BX
-
PHNX
-
BRKM5
-
PETR4
-
LUG
-
TLEVISACPO
-
SIME
-
SCG
-
3258
-
LDG
-
AML
-

(Adds Bunge, AMS, 3M (NYSE:MMM); udpates Alexion, Petroleo Brasileiro, Eddie Stobart)

Dec 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Austrian sensor specialist AMS AMS.S said it had succeeded at its second attempt with a 4.6 billion euro ($5.1 billion) bid for Osram OSRn.DE , gaining more than 55% of the German lighting group's shares. Industrial conglomerate 3M Co MMM.N is exploring a sale of its drug delivery systems unit, which could fetch around $1 billion, Bloomberg reported, citing people with knowledge of the matter. Phoenix Group Holdings PHNX.L has agreed to buy the British ReAssure business of Swiss Re SRENH.S for 3.2 billion pounds ($4.1 billion) in cash and shares, the UK insurer's biggest deal to date as it bulks up on policies closed to new customers. Industrial conglomerate 3M Co MMM.N is exploring a sale of its drug delivery systems unit, which could fetch around $1 billion, Bloomberg reported, citing people with knowledge of the matter. French private equity group Ardian has become the new anchor shareholder of German EWE LANDWE.UL , the regional utility said, in a deal sources said was worth up to 1.4 billion euros ($1.5 billion). Blackstone (NYSE:BX) Group BX.N said it is waiting for Japanese hotel operator Unizo Holdings 3258.T to respond to its $1.6 billion takeover proposal. Alexion Pharmaceuticals Inc ALXN.O said its board of directors had unanimously rejected hedge fund Elliott Management's push for a "proactive sale" process of the entire company because it would not be in the best interest of shareholders. Aston Martin AML.L , which was reported this week to be the target of Canadian billionaire Lawrence Stroll, said it was not actively pursuing new investors as it opened a new factory to build its first sport utility vehicle. GFG Alliance, owned by British commodities tycoon Sanjeev Gupta, has agreed to buy the Duffel aluminium plant in Belgium from Novelis NVLXC.UL , the group said. Investment firm 3i (LON:III) Infrastructure 3IN.L said it would sell its projects portfolio in Britain to a range of buyers, including funds managed by Dalmore, Semperian and Innisfree for about 194 million pounds ($248.90 million). Property manager Scentre Group SCG.AX said it bought a 50% stake in shopping centre Garden City Booragoon for A$570 million ($386.80 million), beefing up its Westfield-branded portfolio in Perth months after pruning its Sydney assets. Britain's competition watchdog has flagged concerns about potential price increases at some pubs from a merger of Slug and Lettuce pub owner Stonegate and rival Ei Group EIGE.L , which would create the country's biggest pub operator. Malaysia's Sime Darby Plantation Bhd SIME.KL , the world's largest oil palm planter by land size, said it would sell its underperforming palm oil concession in Liberia to a local company. A Brazilian bankruptcy judge has pushed back the sale of two soy crushing plants after U.S-based grain trader Bunge Ltd BG.N alleged the seller provided "scarce and incomplete" information about the assets, according to court filings seen by Reuters. Eddie Stobart's ESLE.L shareholders voted in favour of a takeover from top investor DBAY Advisors, allowing the logistics company's green and red trucks to continue trading. The chief executive of Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) PETR4.SA said he wants to sell the company's stake in petrochemical company Braskem SA BRKM5.SA within a year. Australia's Newcrest Mining Ltd NCM.AX said it had raised its stake in Canadian miner Lundin Gold Inc LUG.TO to 32% with an additional C$79.6 million ($59.9 million) investment as it looks to increase its exposure in Ecuador. Mexican broadcaster Grupo Televisa TLEVISACPO.MX won an injunction against Walt Disney (NYSE:DIS) Co's DIS.N acquisition of Twenty-First Century Fox Inc's assets in Mexico, but Mexico's market regulator said on Thursday that the ruling would not stall the deal.

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.