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Deals of the day-Mergers and acquisitions

Published 20/04/2021, 08:30 pm
Updated 21/04/2021, 05:54 am
© Reuters.

(Adds Microsoft, Creval; Updates Toshiba, Innospec)

April 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1950 GMT on Tuesday:

** Messaging platform Discord Inc has ended deal talks with Microsoft Inc MSFT.O and plans to focus on expanding the business as a standalone company, sources familiar with the matter told Reuters. Creval investors have tendered only 22.6% of the Italian bank's shares targeted in a Credit Agricole (PA:CAGR) Italia (CAI) buyout offer, leaving the outcome of the bid in doubt to its last day. Canadian National CNR.TO said on Tuesday it had offered to buy railroad operator Kansas City Southern (NYSE:KSU) KSU.N for about $30 billion, trumping a rival bid by Canadian Pacific CP.TO and sending the U.S. company's shares up more than 20%. Banks including DBS Group DBSM.SI , Mitsubishi UFJ Financial Group (MUFG), OCBC OCBC.SI and Standard Chartered STAN.L are set to bid for parts of Citigroup (NYSE:C)'s C.N consumer business in Asia, people with direct knowledge of the matter said. Toshiba Corp 6502.T dismissed a $20 billion buyout offer from CVC Capital Partners as lacking detail, putting a question mark over the future of the proposal. Italy's Eni ENI.MI is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. DBS Group DBSM.SI has agreed to buy a 13% stake in privately owned Shenzhen Rural Commercial Bank Corp (SZRCB) for 5.29 billion yuan ($814.3 million), marking the Southeast Asian lender's biggest acquisition in China. Bookmaker William Hill moved closer to being taken over by Caesars Entertainment on Tuesday, saying it had gained approval in a British court for the 2.9 billion pound ($4 billion) deal, which was opposed by minority shareholder HBK. Australia's biggest supermarket chain Woolworths Group WOW.AX sought to take control of data analytics firm Quantium by raising its stake in the company to 75% from 47%, signaling its increasing reliance on analytics to target and retain customers. Britain's Issa brothers and private equity group TDR Capital must address the competition regulator's concerns that their purchase of the Asda supermarket chain could lead to higher fuel prices to avoid the deal being referred for an in-depth probe. Innospec Inc IOSP.O said it was no longer considering a possible offer for rival Elementis ELM.L after the British company rejected a 160-pence per share takeover approach from the U.S. chemicals firm. Investment funds Ardian and Global Infrastructure Partners may not participate in the plan to create a new French water company after the takeover of Suez SEVI.PA by its bigger rival Veolia, VIE.PA , a spokesman for the funds said.

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