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Deals of the day-Mergers and acquisitions

Published 15/04/2021, 08:55 pm
© Reuters.
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(Adds Sinclair Capital, SK Hynix, Borsa Italiana and Aroundtown; updates Thermo Fisher, Cia Hering and Creval)

April 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Sinclair Capital will not tender its shares in Italy's Cerved CERV.MI under a buyout offer ION Group is about to launch because the price is not adequate, founder Massimo Stabilini told Reuters, the first investor to express a view on the bid. Shares in Brazilian apparel retailer Cia Hering HGTX3.SA soared more than 25% in morning trading after it rejected an unsolicited merger offer from competitor Arezzo Industria e Comercio SA ARZZ3.SA . EU antitrust enforcers will decide by May 20 whether to clear South Korean chipmaker SK Hynix Inc 's 000660.KS $9 billion buy of Intel Corp 's INTC.O NAND memory chip business, according to a European Commission filing. Consob gave a green light to pan-European stock market operator Euronext 's ENX.PA takeover of Borsa Italiana, a source close to the Italian market regulator said. A top executive at German real estate company Aroundtown AT1.DE said its proposed 1.57 billion euro ($1.88 billion) takeover bid, made with partner CPI Property O5G.DE , for Globalworth Real Estate GWI.L was attractive for shareholders but he did not rule out lifting the offer. Medical device maker Thermo Fisher Scientific Inc (NYSE:TMO) TMO.N said it would acquire contract researcher PPD Inc PPD.O for $17.4 billion as it looks to add more muscle to its pharmaceutical services business. Credit Agricole (PA:CAGR) Italia (CAI) has raised its bid for Italy's Creval PCVI.MI by 140 million euros ($167.6 million) in an effort to secure backing for plans to expand in Italy's consolidating banking sector. UK's competition watchdog has provisionally found that the 2019 acquisition of investment technology firm GBST Holdings by rival FNZ raises competition concerns and has asked it to sell the business with an option to buy back certain capital markets assets. Shares in New Zealand's Tilt Renewables Ltd TLT.NZ were halted as the wind farm operator held talks for a better takeover offer than the NZ$2.9 billion ($2.07 billion) deal it agreed to last month. Japan Investment Corp (JIC) and Norinchukin Bank are considering buying Toshiba Corp 6502.T , the Nikkan Kogyo Shimbun reported, a Japan-led bid which may be more palatable to regulators and management than rival offers by foreign funds. UK Prime Minister Boris Johnson acted on a personal plea from Saudi Crown Prince Mohammed bin Salman over the axed 300 million pounds ($413.34 million) deal to buy Premier League club Newcastle United, the Daily Mail newspaper reported on Wednesday. China's state-owned Ansteel Group is planning a "strategic restructuring" of regional rival Ben Gang Group, a filing showed, in a sign that the government is seeking to step up consolidation of its mammoth steel sector. Norway's largest bank DNB DNB.OL launched an all-cash offer to buy domestic rival Sbanken SBANK.OL for 11.1 billion Norwegian crowns ($1.3 billion) in a bid supported by both companies. Facebook FB.O has signed a deal to buy renewable energy in India from a local firm's wind power project, the social media giant's first such deal in the South Asian nation, the companies said. Australia's oil and gas explorer FAR Ltd FAR.AX postponed a vote on the sale of its stake in an oil project off Senegal for the third time while investors study a takeover offer from private investment firm Remus Horizons. Austria's takeover commission will take more time to review property group Immofinanz 's IMFI.VI takeover offer for peer S Immo SIAG.VI , it said. Shopping center owner Kimco Realty Corp (NYSE:KIM) KIM.N said it would buy rival Weingarten Realty Investors WRI.N for about $3.87 billion, adding heft to its business just as more parts of the U.S. economy reopen with the rollout of COVID-19 vaccines.

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