February 27, 2018 / 11:16 AM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Comcast, AccorHotels, POSCO, Kushner Cos, Bayer, Crispian, Embraer, ScotiaMocatta, Exxon, Alibaba, Blackstone’ Yunnan Aluminium; Updates Qualcomm)

Feb 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** U.S. cable giant Comcast Corp has offered $31 billion for Sky Plc, threatening a plan hatched by Rupert Murdoch’s Twenty-First Century Fox Inc and Walt Disney Co to seize control of Europe’s biggest pay-TV group.

** A national security panel that can stop mergers that could harm U.S. security has begun looking at Singapore-based chipmaker Broadcom Ltd’s plan to take over rival Qualcomm Inc, according to three sources familiar with the matter.

** Thai property firm Singha Estate Pcl said it would buy six hotels across four countries from a Hawaii-based hotel group for about $250 million.

** British engineering group GKN has set a deadline to break itself up by the middle of next year to help boost value for shareholders as it seeks to stave off a 7 billion-pound hostile bid from Melrose Industries.

** The Chinese buyer of a Hong Kong skyscraper from billionaire Li Ka-shing in a record $5.2 billion deal in the Asian financial hub has pulled out from the purchase, according to people with direct knowledge of the matter.

** Austrian lender BAWAG is looking at takeover targets in Germany and Austria with a combined balance sheet size of around 25 billion euros ($31 billion), its chief executive said.

** Fresenius may back out of the planned acquisition of Akorn if its probe into data integrity at the U.S. maker of liquid generic drugs yields evidence of wrongdoing, the German healthcare group’s chief executive said.

** Chipmaker Microchip Technology is in talks to buy Microsemi Corp, the largest U.S. commercial supplier of military and aerospace semiconductor equipment, a source familiar with the matter said.

** Certain lenders and noteholders of iHeartMediaInc on Monday said John Malone’s Liberty Media Corp proposed to buy a 40 percent stake in a restructured version of iHeart for $1.16 billion.

** French hotel group AccorHotels said it had agreed to sell 55 percent of its AccorInvest property business to a group of sovereign and institutional investors for 4.4 billion euros ($5.3 billion).

** South Korean steelmaker POSCO said it had agreed to buy up to 240,000 tonnes of lithium concentrate a year from Australian miner Pilbara Minerals, the latest Asian company to secure supply of this critical ingredient for electric vehicle batteries.

** Kushner Cos, the real estate company once headed by President Donald Trump’s son-in-law, is in talks to buy the stake it doesn’t already own in its flagship New York City property from Vornado Realty Trust, a company spokeswoman confirmed.

** Bulgaria’s prime minister urged the central bank and intelligence service to look into the purchase of key energy assets by a little known local company, denying any involvement in or backing for the deal.

** Russian billionaire Vladimir Potanin’s Cyprus-based firm Whiteleave, aluminium giant Rusal and Roman Abramovich’s Crispian have agreed to delay a sale of a 2 percent stake in Norilsk Nickel by Abramovich to Potanin, a lawyer for Whiteleave said.

** Brazil’s President Michel Temer is weighing whether to support a proposal for a joint commercial aviation company between Boeing Co and Brazilian aircraft maker Embraer , a presidential spokesman said.

** Talks with Bayer to reintroduce genetically modified (GM) cotton in Burkina Faso are on hold pending the German drug and crop chemicals maker’s acquisition of U.S. rival Monsanto, the head of the West African nation’s top cotton company said.

** Canadian lender Bank of Nova Scotia said it would keep its ScotiaMocatta metals trading business, ending months of speculation that it could be sold, and the bank also reported earnings that beat market expectations.

** Exxon Mobil Corp is selling its 19-percent stake in the Terra Nova project off the eastern coast of Canada, according to data from Schlumberger’s oil and gas asset sale business.

** A judge postponed a court hearing between Italy’s Mediaset and France’s Vivendi over a pay-TV dispute that threatens to disrupt the French group’s plans to create a European media champion.

** Chinese e-commerce giant Alibaba Group Holding Ltd is in talks to buy the food delivery platform Ele.me but no deal is yet in place, a stakeholder in Ele.me said in a filing.

** Poland’s government plans to merge the country’s two biggest refiners, PKN Orlen and Grupa Lotos, in a bid to create a bigger player capable of competing on international markets, PKN said.

** Brazilian electricity transmission company Taesa is looking to buy assets that Ambar Energia Ltda, the energy arm of J&F Investimentos SA, has put up for sale, the firm’s chief executive told Reuters late on Monday.

** Yunnan Aluminium said its board had unanimously approved a joint venture with Israel’s Phinergy and another Chinese firm that will make aluminium-air batteries, its latest bid to cash in on China’s electric vehicle (EV) boom.

** Travel Service is raising its stake in national carrier Czech Airlines to 97.74 percent after Korean Air and Czech state firm Prisko sold their 44 percent and 19.74 percent stakes, Travel Service said.

** Private equity firm Blackstone’s and U.S. specialty material company Celanese have offered concessions in an attempt to address EU antitrust concerns over the planned merger of their acetone tow units.

** Two hedge funds that have criticised Twenty-First Century Fox’s takeover of Britain’s Sky have said Comcast Corp’s rival $31 billion offer for the broadcaster is likely to trigger a higher counter-bid for the company.

** A merger of German chemicals group BASF’s oil and gas subsidiary Wintershall with rival DEA will likely close by the end of the third quarter of 2018, BASF Chief Financial Officer Hans-Ulrich Engel said during an earnings presentations. (Compiled by John Benny and Uday Sampath in Bengaluru)

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