April 29, 2019 / 11:00 AM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Parker Hannifin, CaixaBank; Updates Anadarko)

April 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Sub-prime lender Non-Standard Finance (NSF) expressed “strong confidence” in its bid to buy rival Provident Financial, giving Provident’s investors more time to accept its 1.3 billion pound ($1.68 billion) offer.

** Anadarko Petroleum Corp said on Monday it would negotiate with Occidental Petroleum Corp over its $38 billion cash-and-stock bid, after determining it could get a better deal than its agreed $33 billion sale to Chevron Corp .

** Criteria, the holding company of CaixaBank, is looking to sell a stake in car park group Saba in a deal that could value Saba at up to 1.2 billion euros ($1.3 billion) including debt, according to five sources with knowledge of the matter.

** A consortium of investors managed by Macquarie Infrastructure and Real Assets has bought the rest of Innogy Grid Holding for around 1.8 billion euros, previous owner RWE said.

** Three of Bayer’s largest German investors said the drugmaker’s embattled management needed to stay at the helm to avoid further upheaval, despite their unease over a share price slump in the wake of the $63 billion Monsanto takeover.

** France has raised its stake in car parts group Valeo to just above 7 percent through state bank Bpifrance, as it looks to protect leading companies from activist shareholders.

** Israel’s Delek Group confirmed it submitted a proposal through its Ithaca unit to buy Chevron’s oil and gas fields in the British North Sea.

** Saudi Arabia’s Industrialization and Energy Services Company (TAQA) said its drilling subsidiary, Arabian Drilling Company, has agreed to buy Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million.

** Bahrain has signed 12 agreements and memoranda of understanding with French companies and institutions worth $2 billion, Bahrain news agency (BNA) reported.

** U.S. industrial conglomerate Parker Hannifin Corp said it would buy privately held adhesives and coatings maker Lord Corp for about $3.68 billion in cash, in a move to strengthen its aerospace and defense businesses.

** Brazil’s JBS SA, the world’s largest meatpacker, said it closed a deal to buy local pork processor Adelle Industria de Alimentos Ltda for 235 million reais ($59.8 million).

** Pioneer Natural Resources is in advanced talks to sell its Eagle Ford acreage in South Texas to privately owned energy producer Ensign Natural Resources, five sources familiar with the matter said.

** Intel Corp is exploring strategic options for its modem chip business, including a possible sale to Apple or another acquirer, the Wall Street Journal reported, citing people familiar with the matter. (Compiled by Shradha Singh and Uday Sampath in Bengaluru)

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