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Deals of the day-Mergers and acquisitions

Published 07/03/2020, 07:17 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Yes Bank , OMV, US Foods Holding Corp; updates Shandong Ruyi)

March 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** U.S. regional TV station operator Gray Television Inc GTN.N has made an offer to acquire larger peer Tegna Inc TGNA.N for approximately $8.5 billion, including debt, people familiar with the matter said. India laid out a rescue plan for Yes Bank YESB.NS under which State Bank of India SBI.NS will take a 49% stake in the troubled lender, which is struggling with bad loans. Austrian oil company OMV OMVV.VI said on Friday it is preparing to increase its stake in plastics maker Borealis to 75% in a deal worth $4.7 billion. Food distribution company US Foods Holding Corp USFD.N said it would buy Smart Foodservice Warehouse Stores from private equity firm Apollo Global Management APO.N for $970 million, in a move to expand its base of restaurant customers. Brazil's state-controlled oil company Petroleo Brasileiro SA (Petrobras) PETR4.SA has begun the sale process of its stake in Petrobras Colombia Combustibles, known as PECOCO, sending information about the deal to potential investors. Chinese clothing conglomerate Shandong Ruyi has failed to secure financing for its $600 million acquisition of Swiss luxury brand Bally, more than two years after the deal was announced, according to four people with direct knowledge of the matter. Chinese gaming company Beijing Kunlun Tech Co Ltd 300418.SZ said that it has agreed to sell Grindr LLC, a popular gay dating app it acquired in 2016, for about $608.5 million. Swiss Firmenich has agreed to buy Les Dérivés Résiniques et Terpéniques (DRT), which specializes in plant-based chemistry, from private equity group Ardian, Tikehau Capital and family shareholders, the flavours and fragrances group said. Brazilian e-commerce firm Peixe Urbano on Thursday denied it was in talks to acquire Latin American scooter company Grow Mobility even as a person with direct knowledge of the matter said the startup was in talks with chairman of the firm's board. Australia's Nufarm Ltd NUF.AX said a Brazilian competition regulator has cleared the sale of its South American crop protection and seed treatment assets as it looks to pay down debt amid a severe domestic drought.

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