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Deals of the day-Mergers and acquisitions

Published 17/12/2019, 09:53 pm
© Reuters.  Deals of the day-Mergers and acquisitions

Dec 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Tuesday:

** Shares of International Flavors & Fragrances Inc IFF.N sank on Monday after the company agreed to an expensive multi-billion dollar merger with a division of Dupont Inc DD.N , raising concerns about IFF's high debt pile. Swiss drugmaker Roche ROG.S plans to complete its $4.3 billion takeover of gene therapy specialist Spark Therapeutics ONCE.O after U.S. and British authorities ruled the deal would not hurt competition in hemophilia A treatment. The boards of Fiat Chrysler Automobiles NV FCHA.MI and Peugeot SA PEUP.PA will meet separately on Tuesday to discuss finalising an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. Gold miner Northern Star Resources Ltd NST.AX said it had entered into an agreement with the Australian unit of Newmont Gold Corp NEM.N to buy a 50% stake in Kalgoorlie Consolidated Gold Mines for $800 million. Canadian lumber products company Canfor Corp CFP.TO has rejected Great Pacific Capital Corp's proposal to take it private. The Benetton family's holding company Edizione intends to sell up to 49% stake in Rome airport operator Aeroporti di Roma as part of an overhaul of infrastructure group Atlantia ATL.MI , business daily Il Sole 24 Ore said. Liberty Global LBTYA.O has ended talks over combining its UPC Switzerland unit with Sunrise Communications SRCG.S , the U.S.-based cable company said, putting to rest hopes that the 6.3 billion Swiss franc ($6.32 billion) deal could be revived. Australian nickel miner Independence Group IGO.AX extended the closing date of its takeover offer for smaller peer Panoramic Resources PAN.AX , saying it required more time to assess its position due to breach of offer conditions. German broadcaster ProSiebenSat.1 Media SE's PSMGn.DE e-commerce arm NuCom Group is exploring the acquisition of U.S. live streaming app developer Meet Group Inc MEET.O , people familiar with the matter said. Daimler DAIGn.DE is seeking to buy a majority stake in its Chinese operations, three people familiar with the matter told Reuters, after initial efforts to raise its stake failed and as Chinese investors tighten their grip on the German carmaker. China's Sinopec 600028.SS and U.S.-based EIG Global Energy Partners have delivered non-binding offers to buy Brazilian refinery REGAP from state-run oil firm Petrobras, three people with knowledge of the matter said. Entities representing the Peugeot family have approved a proposed Memorandum of Understanding for PSA's PEUP.PA planned merger with Fiat Chrysler FCHA.MI , a source familiar with the situation said. U.S. businessman Mikayel Israyelyan has bought a majority stake in New York-based Russian-language television network RTVI from its Russian owner and plans to expand it in the United States, the channel said. Tallgrass Energy TGE.N said it has accepted an offer from Blackstone (NYSE:BX) Infrastructure Partners and its affiliates to acquire shares in the U.S. midstream energy company that they do not already own. The Benetton family's holding company Edizione is ready to sell a stake of up to 49% in Rome airport operator Aeroporti di Roma (ADR) as part of a strategic overhaul of infrastructure group Atlantia ATL.MI , sources close to the matter said.

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