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Deals of the day-Mergers and acquisitions

Published 29/09/2020, 11:30 pm
Updated 30/09/2020, 06:00 am
© Reuters.

(Updates AppHarvest, LVMH; Adds Mubadala Investment, Pihlajalinna, Rosneft, General Motors)

Sept 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Abu Dhabi state fund Mubadala Investment Co is in advanced talks to invest up to $1 billion in the retail division of India's Reliance Industries Ltd RELI.NS , two sources told Reuters, as investor interest in the Indian company surges. Finland's competition authority has recommended blocking Mehilainen's 362 million euros ($403 million) purchase of rival Pihlajalinna PIHLIS.HE , as the deal would reduce the number of nationwide healthcare companies to just two. Oil majors Rosneft ROSN.MM and Saudi Aramco 2222.SE are unlikely to bid in the privatization of Indian refiner Bharat Petroleum Corp BPCL.NS , sources familiar with the matter said, as low oil prices and weak fuel demand curb investment plans. General Motors Co (NYSE:GM) GM.N and Nikola Corp NKLA.O have not finalized their deal to jointly build electric pickup trucks and hydrogen fuel cell tractor-trailers, one day ahead of the date targeted, and are continuing discussions, GM said. Agricultural technology firm AppHarvest said it would go public through a merger with a blank-check company in a deal that will value the company at $1 billion. Sogou Inc SOGO.N said shareholder Tencent Holdings Ltd 0700.HK would take the web search firm private in a $3.5 billion deal, making it the latest Chinese company to exit U.S. markets as tensions mount between the world's two largest economies. German energy firm Uniper UN01.DE is exploring a sale of its 20% stake in gas pipeline Opal, which links the Nord Stream 1 (NS 1) pipeline with onshore European grids, three people familiar with the matter said. Alphabet's GOOGL.O Google is set to win EU antitrust approval for its $2.1 billion acquisition of fitness tracker maker Fitbit FIT.N with its latest concessions to address EU antitrust concerns, people familiar with the matter said. A war of words between LVMH and Tiffany escalated with the French group describing Tiffany's prospects as "dismal" and the U.S. jeweller accusing LVMH of improperly trying to renegotiate a takeover deal. French utility Engie ENGIE.PA called on Suez's management to start talks with bigger rival Veolia VIE.PA after Veolia offered last month to buy Engie's 29.9% stake in Suez SEVI.PA for 2.9 billion euros ($3.4 billion). Chinese state-owned car maker FAW Group held talks to acquire Italian truck group Iveco earlier this year but these have now been put on hold, two people close to the matter said. Japan's Nippon Telegraph and Telephone Corp (NTT) 9432.T said it will spend 4.25 trillion yen ($40 billion) to take its wireless carrier business private, in a deal that opens the path to lower prices as the government calls for cuts. Hitachi Ltd 6501.T plans to launch a sale of its materials unit as early as next month in a deal that could be worth more than 700 billion yen ($6.6 billion), three people with knowledge of the matter said. Finland's Valmet VALMT.HE has approached valves maker Neles NELES.HE with a merger proposal, challenging a $2 billion bid that Neles agreed with Swedish engineering group Alfa Laval ALFA.ST in July. Finnish alcoholic drinks maker and distributor Altia ALTIA.HE has agreed to buy Norwegian rival Arcus ARCUS.OL in an all-share deal, the two companies said. Australia's Jervois Mining JRV.AX said it would buy a nickel and cobalt refinery from a unit of Votorantim SA, one of Brazil's biggest diversified holding companies, as demand for metals used in batteries for electric vehicles grows. Walmart (NYSE:WMT) Inc WMT.N is in talks with Tata Group TATAS.UL for an investment of up to $25 billion in the Indian salt-to-software conglomerate's new "super app", the Mint newspaper reported, citing people familiar with the matter.

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