August 24, 2018 / 10:13 AM / 2 months ago

Deals of the day-Mergers and acquisitions

(Adds Cigna, ISS, Abu Dhabi National Oil, Haniel, Arconic, Papa John’s)

Aug 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Enbridge Inc, Canada’s largest pipeline operator, said it would buy its U.S. master limited partnership Spectra Energy Partners for a sweetened deal of $3.3 billion.

** Cigna Corp shareholders voted in favor of the health insurer’s proposed $52 billion acquisition of pharmacy benefit manager Express Scripts Holding Co, although the deal still needs clearance from antitrust authorities.

** Papa John’s International Inc, the world’s third-largest pizza delivery company, has hired Bank of America Corp and Lazard Ltd to help find ways to stabilize the restaurant chain, which has come under pressure from its founder John Schnatter, people familiar with the matter said.

** State-owned Abu Dhabi National Oil Co (ADNOC) is in advanced talks with more than one potential buyer, including Italy’s ENI, as it prepares to sell minority stakes in its refining business, two sources familiar with the matter said.

** Family-owned German investment group Haniel has agreed to sell a 7.3 percent stake in retailer Metro AG to a Czech-Slovak investor group for an undisclosed sum, with the option of selling the rest of its holding at a later date.

** Aluminum products maker Arconic Inc is discussing acquisition offers for the entire company, even though it announced a sale process last month only for its building and construction systems unit, people familiar with the matter said.

** UniCredit and Societe Generale declined to comment on a report that Italy’s biggest bank was working with a senior Rothschild banker to advise it on a possible merger with the French lender.

** Brazil antitrust agency Cade is considering imposing restrictions on the merger of Fibria Celulose SA and Suzano Papel e Celulose SA that would create the world’s largest wood pulp producer, a Brazilian newspaper reported, citing sources.

** China Biologic Products Holdings Inc rejected a $3.9 billion offer from a consortium led by its former chief executive and said an affiliate of CITIC Capital had also withdrawn a competing bid.

** Talks between U.S. fund manager Guggenheim Partners and German reinsurer Munich Re have concluded without a deal, Bloomberg News reported.

** Shareholder advisory firm Glass Lewis & Co has recommended that shareholders of hotel owner LaSalle Hotel Properties oppose the buyout by private equity firm Blackstone Group LP, in a victory for LaSalle’s unwelcome suitor Pebblebrook Hotel Trust.

** Abu Dhabi’s Sheikh Khaled bin Zayed Al Nehayan, cousin of Manchester City owner and Arab billionaire Sheikh Mansour bin Zayed Al Nahyan, failed in a 2 billion pounds ($2.55 billion) proposal to buy UK’s Liverpool Football Club, the Daily Mail reported.

** Electra Private Equity has ended talks about a possible buyout of the company after failing to receive a firm offer from interested parties, it said.

** Australian pallets and container firm Brambles said it intends to demerge and list its IFCO Systems reusable-plastic-containers business and that it was also weighing selling IFCO, sending its shares to one-and-a-half-year highs.

** Platinum Equity is exploring a potential sale or initial public offering of Vertiv, a provider of backup power and fail-safe systems for data centers, which its private equity owner hopes will value the company close to at least $6 billion, according to sources familiar with the matter.

** Japan’s Fair Trade Commission said it had approved the merger of two small regional banks after a lengthy review that had sparked a battle between the antitrust watchdog and financial regulators. (Compiled by Karan Nagarkatti and Tamara Mathias in Bengaluru)

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