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Deals of the day-Mergers and acquisitions
February 15, 2017 / 3:12 PM / 9 months ago

Deals of the day-Mergers and acquisitions

(Adds Wal-Mart Stores, MDC Partners, Verizon Communications, PSA Group; Updates Integra LifeSciences Holdings Corp, Procter & Gamble Co, Toshiba Corp, Anthem)

Feb 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Wal-Mart Stores Inc has acquired online outdoor clothing and gear retailer Moosejaw for $51 million in an all-cash deal, the company said, as it works to boost its competitive standing in U.S. e-commerce.

** PSA Group and General Motors mobilised their chief executives to defend the Peugeot maker’s planned acquisition of GM’s Opel against a German-led backlash that could derail the deal even before its terms are finalised.

** Verizon Communications Inc is close to a revised deal to buy Yahoo Inc’s core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter.

** Ad agency owner MDC Partners Inc said Goldman Sachs Group Inc would invest $95 million and get a seat on its board, sending its shares up about 30 percent.

** Anthem Inc said it filed a lawsuit to block smaller rival Cigna Corp from officially terminating their proposed $54 billion merger, a transaction already rejected by U.S. antitrust regulators.

** Medical device maker Integra LifeSciences Holdings Corp said it would buy Johnson & Johnson’s Codman neurosurgery business for $1.05 billion in cash, to expand its presence outside the United States.

** NBCUniversal, the U.S. media conglomerate owned by Comcast Corp, is in the final stage of talks to buy a 25 percent stake in European broadcaster Euronews, a source close to the Euronews management told Reuters.

** South Africa’s Comair will submit a proposal to Botswana take over the nation’s carrier, Comair’s chief executive said.

** A consortium of Hong Kong-based private equity fund Gaw Capital Partners and individuals including Pony Ma, founder of China’s Tencent Holdings Ltd, is looking to buy the Four Seasons Resort in Bora Bora, French Polynesia, Basis Point reported.

** Chinese cable maker Recon Wenyuan Cable Co Ltd is set to snap up a majority stake in a U.S. movie production company for up to $100 million, the company said in a statement, without naming the target.

** South African logistics group Imperial Holdings will buy a 70 percent stake in Kenyan pharmaceutical distributor Surgipharm for $35 million in line with its African growth strategy, the company said.

** Zhenai.com, one of China’s largest matchmaking websites, has found itself an unlikely suitor in drone manufacturer DEA General Aviation that said it wants to buy the popular dating website to expand its business.

** Japan’s SoftBank Group Corp said it has agreed to buy Fortress Investment Group LLC for about $3.3 billion, looking to add investment expertise as it prepares to launch the world’s largest private equity fund.

** Germany’s Pfeiffer Vacuum publicly rejected a takeover bid from rival Busch, saying it lacked a control premium and did not reflect the growth potential for vacuum pumps.

** Procter & Gamble Co, maker of Tide detergent and Gillette razors, will face ever greater pressure to slice costs and slow-growing divisions now that activist investor Trian Partners is a major shareholder.

** Toshiba Corp may delay the sale of its prized flash-memory chip unit after the conglomerate said it would consider selling most, even all, of the marquee business, a person with direct knowledge of the matter said.

** After Norway’s Yara pulled out as a potential bidder, Vale SA has resumed searching for a buyer for four fertilizer plants that were not included in a $2.5 billion sale to Mosaic Co, according to three people with direct knowledge of the matter.

** European bourse operator Euronext said it planned to become a content provider of reference on agricultural products and other commodity markets, and would seek “a suitable acquisition target.”

** Slovenia hopes to sell 75 percent of its largest bank, state-owned Nova Ljubljanska Banka (NLB), for at least 1 billion euros ($1.06 billion), newspaper Delo reported citing unofficial sources.

** U.S. rail operator CSX Corp said its board has called for a special meeting of its shareholders to discuss requests made by hedge fund Mantle Ridge LP, which is trying to install Hunter Harrison, outgoing chief executive of Canadian Pacific Railway Ltd as the company’s chief executive.

** Warren Buffett’s Berkshire Hathaway Inc was an aggressive buyer of stocks in last year’s fourth quarter, nearly quadrupling its stake in Apple Inc and increasing its stake seven-fold in the four biggest U.S. airlines. (Compiled by Vishaka George and Akankshita Mukhopadhyay in Bengaluru)

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