December 7, 2018 / 9:02 PM / 11 days ago

Deals of the day-Mergers and acquisitions

Dec 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Activist investor Elliott has taken a position in Germany’s Bayer, the latest in a string of investments in German companies, three people familiar with the matter told Reuters.

** Brazilian food processor BRF SA has agreed on the sale of around 800 million reais ($206 million) in assets as part of a plan to raise 5 billion reais to reduce debt, vice president of operations Lorival Luz told journalists.

** Germany’s Fresenius SE properly terminated its merger agreement with Akorn Inc, the Delaware Supreme Court said, sending shares of the U.S generic drugmaker down more than 30 percent.

** Brazil’s state-controlled oil company Petróleo Brasileiro could present a new sale and purchase agreement (SPA) before the end of December for the sale of the Transportadora Associada de Gás (TAG) pipeline, after a Brazilian Supreme Court injunction in July stalled the sale.

** Marlboro cigarette maker Altria Group Inc made a big bet on the rapidly growing marijuana industry with a $1.8 billion investment in Canadian cannabis producer Cronos Group Inc.

** Brazil’s government said that it would appeal an injunction issued Thursday blocking a proposed tie-up between planemakers Embraer and <Boeing BA.N>, joining Embraer, which has also said it will challenge the decision.

** Baring Private Equity Asia will buy cash-strapped Japanese electronics firm Pioneer Corp for $900 million, in a two-stage investment that marks the latest attempt by the country’s car navigation system makers to survive.

** Sabadell wants its British unit TSB to start buying other businesses once it has cleared up the fallout from an IT meltdown, a spokesman for the Spanish group said.

** A consortium led by China’s Anta Sports made an offer to acquire Finland’s Amer Sports in a deal that values the company at 4.6 billion euros ($5.23 billion), the Chinese firm said.

** Kenya’s Finance Minister Henry Rotich said that he welcomed merger talks between NIC Bank and Commercial Bank of Africa as it would help strengthen the financial sector.

** Spain’s Sabadell plans an eventual merger or sale of its TSB unit once it has returned the British bank to profitability, Sabadell’s chairman was quoted as saying. [nL8N1YC14A

** Billionaire global investor Warren Buffett’s Berkshire Hathaway Inc is looking to pick up a 10 percent stake in Kotak Mahindra Bank Ltd, according to a media report, a plan the Indian bank said it was unaware of.

** HCL Technologies will buy some software assets from U.S.-based IBM Corp for $1.8 billion, the companies said, marking the largest purchase ever by an Indian IT services firm.

** Walmart Inc said it has acquired online retailer Art.com for an undisclosed amount to boost its home decor business and expand its online offering, as part of the retailer’s efforts to attract more millennials. (Compiled by Bharath Manjesh in Bengaluru)

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