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Deals of the day-Mergers and acquisitions

Published 29/12/2017, 09:57 pm
© Reuters.  Deals of the day-Mergers and acquisitions

Dec 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Friday:

** Oil and gas producer SandRidge Energy SD.N backed out from its plan to buy smaller rival Bonanza Creek Energy BCEI.N , giving in to pressure from activist investor Carl Icahn and other shareholders. Swiss-based trading and mining giant Glencore Plc GLEN.L has partly completed the sale of a 51 percent stake in its storage and logistics businesses to a unit of China's HNA Group, although transfer of some assets is pending U.S. clearance. Britain's Balfour Beatty BALF.L said it has agreed to sell a further 7.5 percent stake in Connect Plus, the operator of London's M25 orbital motorway for 62 million pounds ($83.5 million) in cash, a week after it announced the sale of a 12.5 percent stake. Debt-laden Reliance Communications RLCM.NS has signed a deal to sell its wireless assets to Reliance Jio Infocomm RELIB.UL , for a total value of nearly 240 billion rupees ($3.75 billion), two sources familiar with the matter told Reuters. Australian casino operator Crown Resorts CWN.AX said it has agreed to sell its 62 percent stake in online betting firm CrownBet to a consortium including the unit's chief executive for A$150 million ($117 million). Specialty chemicals and pharmaceuticals manufacturer Aarti Industries Ltd ARTI.NS signed a supply contract with a U.S. affiliate of Saudi Basic Industries Corp (SABIC) 2010.SE worth 100 billion rupees ($1.56 billion).

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