April 30, 2018 / 10:38 AM / 10 months ago

Deals of the day-Mergers and acquisitions

(Updates Marathon and Sainsbury’s; adds Contura Energy, Baidu, Savannah Petroleum and Amer Sports)

April 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2010 GMT on Monday:

** Marathon Petroleum Corp agreed to buy rival Andeavor for more than $23 billion in the largest-ever tie-up between U.S. refiners, giving the combined company a nationwide presence and increased access to growing export markets.

** Sainsbury’s is to buy Walmart’s Asda for around 7.3 billion pounds ($10 billion) in a bold attempt to overtake long-time leader Tesco as Britain’s biggest supermarket group by market share.

** Contura Energy Inc and Alpha Natural Resources Holdings Inc said they agreed to merge, creating the largest U.S. producer of metallurgical (met) coal, used in steelmaking, and reuniting the two businesses that were split following a 2015 bankruptcy.

** China’s Baidu Inc said it will sell a majority stake in its financial services business for about $1.9 billion to a consortium led by TPG Capital Management LP and Carlyle Group LP, as it looks to deepen its push into financial services.

** West Africa-focused oil and gas group Savannah Petroleum is considering selling a minority stake in its Niger assets before first oil flows there, which is expected in 2021, Chief Executive Andrew Knott said.

** Finland’s Amer Sports has agreed to buy Swedish sports fashion brand Peak Performance from IC Group for about 255 million euros ($309 million), the companies said.

** Marriott Vacations Worldwide Corp will buy timeshare operator ILG Inc for $4.7 billion, the companies said, grabbing the chance to merge operations and brands spun out of Starwood and Marriott hotels.

** Private equity firm Hellman & Friedman said it agreed to acquire investment adviser Financial Engines Inc in an all-cash deal valued at about $3.02 billion.

** ExxonMobil has agreed to acquire Indonesian motorcycle lubricant maker PT Federal Karyatama (FKT) in a $436 million transaction, FKT’s parent PT Mitra Pinasthika Mustika said.

** Mondi has agreed to buy a privately owned industrial bags maker operating in Egypt for 23.7 million euros ($28.75 million) to expand deeper into the Middle East, the South African packaging group said.

** AccorHotels has agreed to buy rival Movenpick Hotels & Resorts for 560 million Swiss francs ($567 million), in a deal which Accor said would boost its earnings and marks the latest example of the French group’s ambitious takeover strategy.

** German chemicals maker BASF secured EU antitrust approval to acquire a package of businesses from Bayer after pledging to sell some assets to address competition concerns.

** EU antitrust authorities approved U.S. wheel parts supplier Accuride’s acquisition of German peer Mefro Wheels after it agreed to sell an Italian business.

** Prologis Inc, a logistics company with a global footprint, will acquire smaller U.S. rival DCT Industrial Trust Inc in an $8.4 billion all-stock transaction, including the assumption of debt, the two companies said.

** Finnish utility Fortum said Russian authorities had approved its acquisition of up to 50 percent of German counterpart Uniper, playing down the decision to effectively deny it a controlling stake.

** The boss of Kantar, the data and market research division of advertising giant WPP, has been sounding out backers for a potential 3.5 billion pounds ($4.8 billion) management buyout of the unit, The Times reported.

** Generics drug companies Amneal Pharmaceuticals LLC and Impax Laboratories Inc have won U.S. antitrust approval to merge, the U.S. Federal Trade Commission said on Friday.

** Activist Crystal Amber disclosed a 3.11 percent stake in De La Rue, the company that makes British passports, in a filing to the London Stock Exchange. (Compiled by Ahmed Farhatha and Sanjana Shivdas in Bengaluru)

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