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Deals of the day-Mergers and acquisitions

Published 25/08/2020, 08:00 pm
© Reuters.

(Updates Glencore )

Aug 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Brooklyn-based technology startup ConsenSys has acquired JPMorgan Chase (NYSE:JPM) & Co's JPM.N marquee blockchain platform Quorum, the companies said. Zambia's mining investment arm, ZCCM-IH ZCCM.LZ , is seeking a controlling stake in Glencore GLEN.L subsidiary Mopani Copper Mines, Zambia's mines minister said, after a disagreement over Glencore's plan to halt production. JPMorgan JPM.N would need to pay $1 billion for full ownership of its Chinese mutual fund venture, a statement on the Shanghai United Asset and Equity Exchange showed, a price tag that analysts said was expensive. Japanese fast-food restaurant group Colowide Co 7616.T has extended its hostile bid for rival Ootoya Holdings 2705.T after failing to secure enough shares by Tuesday's deadline, despite offering a hefty premium. British industrial software provider Aveva Group AVV.L is buying SoftBank-backed peer OSIsoft for an enterprise value of $5 billion, it said, as it seeks to expand its services with the California-based firm's PI system. Virgin Australia Holdings Ltd's VAH.AX unsecured creditors will receive an average return of 9% to 13% of their funds as part of U.S. private equity group Bain Capital's proposed purchase of the airline, administrator Deloitte said in a report. Japanese trading house Itochu Corp 8001.T boosted its stake in convenience store chain FamilyMart Co 8028.T to about two-thirds after a $5.5 billion tender offer that was criticised by some activist investors as being too low. Yara YAR.OL , one of the world's largest fertiliser makers, has completed a long-awaited sale of its stake in Qatar Fertiliser Company, paving the way for a significant share buyback program, the Norwegian company said. Spectacles maker EssilorLuxottica ESLX.PA said that it may appeal against an earlier court verdict regarding its planned takeover target GrandVision GVNV.AS after it lost a Dutch court case which could jeopardise the deal. Kirin Holdings Co 2503.T and China Mengniu Dairy Co 2319.HK said they have given up on the sale of the Japanese company's wholly owned Australian dairy firm Lion-Dairy and Drinks Pty Ltd to the Chinese company.

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