July 15, 2019 / 10:03 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Symantec Corp, Callon Petroleum Co, ROK, PPC, updates Gilead Sciences, Yandex NV)

July 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Monday:

** Cybersecurity company Symantec Corp and chipmaker Broadcom Inc have ceased deal negotiations, CNBC reported, citing sources.

** Australian wealth manager AMP Ltd said it would likely pull the A$3.3 billion ($2.3 billion) sale of its life insurance unit after the intervention of New Zealand’s central bank, raising concerns about its recovery strategy and sending its shares tumbling.

** Callon Petroleum Co said it would buy Carrizo Oil & Gas Inc in a $3.2 billion deal, the latest in a string of acquisitions as energy companies scale up to boost cash flow in the face of investor criticism.

** Vietnam’s Military Commercial Joint Stock Bank is seeking to sell a 7.5% stake to one or more foreign investors this year, its chief executive officer said.

** China’s Xiaomi Corp has taken a stake of roughly 6% in compatriot chip designer VeriSilicon Holdings Co Ltd, as the smartphone maker revamps its years-long pursuit of success in semiconductors which it sees as central to driving innovation.

** Russian internet company Yandex NV said its ride-sharing and food delivery joint venture with Uber had agreed to buy intellectual property and local call centres from Vezet group as it plans further expansion in the country.

** South Africa’s Bidvest Group said on Monday it would acquire Enx Group’s Eqstra Fleet Management and Logistics in a deal worth 3.1 billion rand ($222.3 million) on an enterprise value basis.

** French pay-TV group Canal+ has acquired African film and television studio ROK, marking the first international acquisition in Nigeria’s film industry, popularly known as Nollywood.

** Greece’s electricity utility PPC failed to attract any binding bids for three coal-fired plants it is selling as part of reforms Athens has agreed with its lenders to help open up its electricity market.

** U.S. antiviral drugmaker Gilead Sciences will invest $5.1 billion in a major expansion of its partnership with Belgo-Dutch biotech Galapagos NV, news that lifted Galapagos’s shares 18 percent to an all-time high on Monday (Compiled by Soundarya J in Bengaluru)

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