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Deals of the day- Mergers and acquisitions
March 9, 2016 / 10:39 AM / in 2 years

Deals of the day- Mergers and acquisitions

(Adds Teva Pharmaceuticals, Lyondell Basell Industries, Mediaset, Corus Entertainment, Intel Corp, Mediaset)

March 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2045 GMT on Wednesday:

** Teva Pharmaceutical Industries is expected to win EU antitrust approval for its $40.5 billion bid for Allergan’s generics unit after agreeing to sell off some of its products to appease regulators, three people familiar with the matter said on Wednesday.

** Lyondell Basell Industries Chief Executive Bob Patel said on Wednesday the chemical company may at some stage sell its 263,776 barrel per day (bpd) Houston refinery.

** Silvio Berlusconi’s broadcaster Mediaset is close to selling its pay-TV unit to Vivendi, three sources close to the matter said, a move that would strengthen the French media group’s grip on Italy.

** Minority shareholders in Corus Entertainment Inc voted in favor of the media company’s planned C$2.65 billion purchase of Shaw Media from its sister company Shaw Communications Inc.

** Intel Corp said it bought Israel’s Replay Technologies, which developed a 3D video technology that has started to be used by U.S. professional sports broadcasters.

** Toshiba Corp has granted Canon Inc exclusive negotiating rights for its medical equipment unit after a hotly contested auction, with a report putting Canon’s offer at more than $6 billion.

** Burberry has been told by HSBC that a stake of nearly 5 percent built up in the British luxury brand was the result of a series of trades by client funds rather than done on behalf of a single investor, dampening hopes of a potential takeover bid.

** India is set to raise about $170 million from the sale of a 5 percent stake in state-run Container Corp, with institutional investors bidding for twice the number of shares on offer for them on the first day of the sale.

** Russian state conglomerate Rostec wants to merge its Novikombank with other banks to turn it into a top 10 player in the country, Rostec CEO Sergei Chemezov told TASS news agency in an interview.

** Sharp Corp’s two main banks are set to lower interest rates on billions of dollars in loans and offer other financial support as part of a planned takeover by Taiwan’s Foxconn, a source with direct knowledge of the plan said.

** G4S, the world’s largest security firm, said it planned to sell more of its businesses in the next two years, after it took an additional 65 million pound ($92.5 million) charge on onerous British government contracts, including services for asylum seekers.

** India’s Crompton Greaves Ltd said it would sell its overseas power business to a U.S. private equity fund for an enterprise value of 115 million euros ($126 million), to pay down debts and invest in faster growing Indian businesses.

** China’s Hunan Valin Iron and Steel Group said on Wednesday it supported a proposed tie-up between top iron ore producers Vale of Brazil and Australia’s Fortescue Metals Group, in which it is a shareholder. (Compiled by Rosmi Shaji and Vishaka George in Bengaluru)

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