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Deals of the day -- mergers and acquisitions
August 21, 2012 / 10:43 AM / 5 years ago

Deals of the day -- mergers and acquisitions

(Adds Dex One, Exelon Corp, AXA, Fresensius)

Aug 21 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S., Canadian and Asian companies were reported by 2000 GMT on Tuesday:

** Directors of Australia’s Hastings Diversified Utilities Fund on Tuesday recommended a A$1.4 billion ($1.46 billion) bid by rival gas distributor APA after an alternative suitor bowed out.

** Buyout fund KKR & Co L.P. has placed a bet on China’s $38 billion youth apparel retail market, saying on Tuesday that it will acquire a stake in privately held retailer Novo Holdco Ltd for $30 million.

** Hedge fund SAC Capital Advisors is applying fresh pressure on Clearwater Paper Corp to raise its share price by urging the company to split itself into two parts and consider selling one or both businesses, according to a regulatory filing.

** The supervisory board of German healthcare company Fresenius will look into the possibility of a fresh takeover offer for rival hospitals operator Rhoen-Klinikum this week, three people familiar with the process said on Tuesday.

** Danish brewer Carlsberg said its ownership of Baltika Breweries in Russia has risen by about 12 percentage points to 96.77 percent, satisfying the conditions of its buyout offer that expired on Aug. 9.

** Hong Kong conglomerate Hutchison Whampoa said on Tuesday it had ended a deal to regain control of Israel’s second largest mobile phone operator Partner Communications .

** Finnish industrial automation company Cencorp is to buy a business making conductive back sheets for solar power cells from U.S. company Avery Dennison for $500,000 and 6.7 million Cencorp shares.

** Japan’s top oil and gas explorer Inpex Corp said it has agreed to acquire a 9.99 percent stake in Angola’s offshore oilfield block 14 from France’s Total. [ID: nL4E8JL2FA]

** Heritage Oil Plc will sell part of a gas block and borrow money from Genel Energy Plc to raise $450 million, easing concerns about how it will fund oilfield purchases in Nigeria.

** Glencore’s $30 billion bid for miner Xstrata Plc is not a “must-do deal,” its chief executive said on Tuesday, in the company’s strongest yet warning that it will not yield to rival shareholder Qatar’s demands for a higher price.

** The sovereign wealth funds of China and Singapore have invested a combined $1 billion in a U.S. plant that will export cheap liquefied natural gas to Asia, a source said, becoming the latest Asian institutions to tap into the gas boom in the United States.

** Directory publishers Dex One Corp and SuperMedia Inc on Tuesday said they will combine in a stock-for-stock merger. The combined company, to be called Dex Media, expects to save between $150 million and $175 million annually by 2015 by cost-cutting measures including reducing headcount.

** Power company Exelon Corp said it sold stakes in five California power plants, acquired as part of its merger with Constellation Energy Group, to Japan’s IHI Corp.

** French insurer AXA is close to a long-awaited deal to sell control of its private equity unit to its management company, with an agreement possible as soon as September, Financial News reported on Tuesday.

** French bank Societe Generale, which recently agreed to the sale of its U.S. asset management unit TCW, is now looking to sell its substantially smaller German leasing unit, called Pema, financial newsletter Agefi reported.

** Singapore state investor Temasek Holdings has sold its roughly 1.4 percent stake in Asia Pacific Breweries to Dutch brewer Heineken, two sources with direct knowledge of the deal said.

** Barclays is in talks about combining its African operations with that of majority-owned subsidiary Absa Group in a move aimed at accelerating expansion on the continent, the British bank said on Tuesday.

** Electrolux AB is among three bidders who made a binding bid to acquire unlisted South Korean home appliance maker Daewoo Electronics, a source with direct knowledge of the matter said on Tuesday. (Compiled by Shubham Singhal and Garima Goel in Bangalore)

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