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Deals of the day-Mergers and acquisitions
November 6, 2017 / 11:02 AM / 17 days ago

Deals of the day-Mergers and acquisitions

(Adds Malaysia Building Society Bhd, Bayer, German Energy Group Innogy, Chicago Stock Exchange, Twenty-First Century Fox; updates Sprint, Broadcom, ABB)

Nov 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Monday:

** Malaysia Building Society Bhd (MBSB) said it plans to acquire Asian Finance Bank (AFB) from its foreign shareholders for 645 million ringgit ($152.5 million) in a deal that would give the non-bank lender a banking license.

** The European Commission has resumed its antitrust review of Bayer’s planned takeover of U.S. seed maker Monsanto after the companies were given time to provide more information.

** German Energy Group Innogy could sell its troubled British retail business Npower, or combine it with a local rival, four people familiar with the matter said, in a move that would end years of cost-cutting and losses.

** Sprint Corp’s shares fell more than 13 percent on Monday after the No. 4 U.S. wireless carrier called off merger talks with T-Mobile US Inc and a wireless partnership with cable company Altice USA failed to appease investors.

** U.S. investors have agreed to increase their stake in a deal to buy the Chicago Stock Exchange (CHX) to prevent the politically sensitive bid, led by China-based investors, from falling apart, sources familiar with the matter said.

** Chip maker Broadcom Ltd made an unsolicited $103 billion bid for Qualcomm Inc on Monday, setting the stage for a major takeover battle as it looks to dominate the fast-growing market for semiconductors used in mobile phones.

** Rupert Murdoch-controlled Twenty-First Century Fox has held talks to sell most of the company to Walt Disney Co, CNBC reported on Monday, citing unnamed people familiar with the matter.

** Marvell Technology Group Ltd is in advanced talks to buy Cavium Inc - a deal that would create a chipmaker worth about $14 billion, the Wall Street Journal reported on Friday.

** State-owned Israel Aerospace Industries said on Sunday it signed a deal with the FIMI private equity fund to invest in IAI’s subsidiary ImageSat.

** India’s antitrust regulator has approved Singapore’s sovereign wealth fund GIC’s bid to acquire a stake in a firm owned by DLF for 89 billion rupees ($1.4 billion), the country’s biggest real estate developer said in a statement late Saturday.

** Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG as it overhauls its activities following a series of major overseas acquisitions.

** South African lender FirstRand has agreed a 1.1 billion pound ($1.3 billion) takeover of British banking newcomer Aldermore Group ALD.L>, seeking to grow its revenue beyond its home continent.

** Air China, said it viewed Qatar Airways’ acquisition of a 9.61 percent stake in Cathay Pacific Airways Ltd “positively” and that it hoped the shareholders could work together to find synergies.

** Telecom operator Reliance Communications Ltd (RCom) said it signed an agreement to sell its non-core Direct-to-Home business, in a bid to reduce debt load.

** ABB is reorganizing part of its global power grids operations as the Swiss engineering group responds to the division’s sluggish profitability and falling orders.

** Britain’s Prudential plans to break up its 10 billion pound ($13 billion) British pensions annuities book into four parts, in a move that could see the insurer leave its domestic market, Sky News said.

** Japan’s ANA Holdings Inc has dropped a plan to form a joint venture in Myanmar, the airline said on Monday, after its application for an air operator’s certificate (AOC) was rejected by the authorities in the Southeast Asian country. (Compiled by Diptendu Lahiri and Vibhuti Sharma in Bengaluru)

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