August 31, 2017 / 10:10 AM / 4 months ago

Deals of the day-Mergers and acquisitions

(Updates Air Berlin, AstraZeneca; Adds Rathbone Brothers, Stada)

Aug 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Rathbone Brothers has abandoned an attempt to merge with rival wealth manager Smith & Williamson (S&W) after failing to agree a deal that would have been “in the best interests” of its shareholders.

** Activist investor Elliott Management said it wanted at least 74.40 euros per share for its stake in Stada as private equity firms Bain Capital and Cinven seek to tighten their grip on the German generic drugmaker.

** Canadian miner First Quantum Minerals Ltd said it would boost its stake in unit Minera Panama SA to 90 percent in a deal valued at $635 million to increase its copper mining operations.

** Deutsche Asset Management plans to launch the sale of its stake in British water company Kelda Group as soon as next month with an estimated valuation of close to 1 billion pounds ($1.3 billion), sources close to the matter told Reuters.

** BBVA said it was looking at the possible sale of its retail bank in Chile after Canada’s Bank of Nova Scotia expressed an interest in buying up to 100 percent.

** The field of bidders for Air Berlin’s assets appeared to narrow further when aviation investor Hans Rudolf Woehrl stepped back from the process to search for a partner.

** French luxury department store Galeries Lafayette is to buy a majority stake in online and catalog retailer La Redoute, the companies said, in a deal Lafayette said would deliver cost-savings and boost its digital businesses.

** Japanese drugmaker Daiichi Sankyo denied that it received a takeover bid last year from Britain’s AstraZeneca , following speculation that sent its share price soaring as much as 13 percent and triggered a trade suspension.

** Brazil’s Equatorial Energia SA is among the companies interested in bidding for the control of Companhia Energética de São Paulo, which will be auctioned on Sept. 26, two sources with knowledge of the matter said on Wednesday.

** BroadSoft Inc, a U.S. provider of software that helps companies offer cloud-based communications services, is exploring its options, including the potential sale of the company, according to people familiar with the matter. (Compiled by Akankshita Mukhopadhyay and Laharee Chatterjee in Bengaluru)

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