November 25, 2019 / 11:03 AM / 11 days ago

Deals of the day-Mergers and acquisitions

(Adds CBS Corp, Viacom, StubHub, Wincanton, Curium, Altran; updates Charles Schwab, LVMH, Just Eat)

Nov 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 21:00 GMT on Monday:

** The all-stock merger of CBS Corp and Viacom Inc is expected to close on Dec. 4, the companies said.

** EBay Inc will sell ticketing unit StubHub to ticket reseller Viagogo Ltd for $4.05 billion in cash, the companies said, nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses.

** Logistics company Wincanton Plc has decided to drop plans to make an offer to buy rival Eddie Stobart Logistics , citing concerns about the target’s financial performance and liquidity.

** European private equity firm CapVest has tapped potential bidders for its French nuclear medicine provider Curium, sources told Reuters, aiming for a deal that values the business at up to 3 billion euros ($3.31 billion).

** Software company Capgemini will stick to its bid of 14 euros ($15.43) per share for smaller rival Altran , its chief executive told Reuters, as it tries to fend off pressure from activist hedge fund Elliott for a higher offer.

** Charles Schwab Corp agreed to buy TD Ameritrade Holding Corp in an all-stock deal valued at $26 billion, creating a brokerage giant in a market that has been ravaged by price wars.

** Louis Vuitton owner LVMH has agreed to buy Tiffany for $16.2 billion in its biggest acquisition yet, as the French luxury goods maker bets it can restore the U.S. jeweller’s lustre by investing in stores and new collections.

** A group led by Japan’s Mitsubishi Corp will buy Eneco in a deal valuing the Dutch energy firm at 4.1 billion euros ($4.52 billion), Eneco said, beating off rival bids from Shell and private equity firm KKR.

** Canadian miner Kirkland Lake Gold Ltd said it would buy smaller rival Detour Gold Corp for about C$4.89 billion ($3.68 billion) in an all-stock deal, as it looks to scale up its mining operations and boost reserves.

** Shipping group CMA CGM said it planned to raise $2 billion to help finance its takeover of CEVA Logistics, with half the cash coming from selling port assets to its joint venture with China Merchants Port Holdings Co..

** Insurer Chubb Ltd said it will buy up to an additional 22.4% stake in Chinese insurer Huatai Insurance Group Co Ltd for 10.8 billion yuan ($1.53 billion), as it looks to bank on a rapidly growing sector in the country.

** Russia’s biggest mobile phone operator MTS has agreed to sell its Ukrainian business to Azerbaijan’s Bakcell for what analysts said was a cut-price $734 million.

** Blackstone Group Inc said it will invest $400 million in a joint venture with Swiss drug company Ferring that is working on an experimental gene therapy for bladder cancer, the private equity giant’s largest ever bet on drug development.

** Sorrento Therapeutics Inc said it had rejected an unsolicited buyout proposal from two pharmaceutical companies, saying it significantly undervalued the drugmaker and was not in the best interests of its shareholders.

** BHP Group will pay 17.1 million pounds ($21.9 million) to become the biggest shareholder in SolGold Plc , the majority owner of the Cascabel copper-gold project in Ecuador.

** Daimler’s main Chinese joint venture partner BAIC Group signalled its intention to increase its stake in the German luxury car manufacturer last month, sources briefed on the matter said, after it built up a 5% Daimler stake in July.

** A group led by Japan’s Mitsubishi Corp will buy Eneco in a deal valuing the Dutch energy firm at 4.1 billion euros ($4.52 billion), Eneco said, beating off rival bidders including Shell and private equity firm KKR.

** Unilever Plc denied that its tea business was up for sale, following reports over the weekend that the consumer goods giant was looking to unload the division that sells PG Tips and Lipton brands due to cooling demand for black tea.

** Debt-ridden telecoms and cable company Altice Europe said it would acquire French fibre wholesale operator Covage for about 1 billion euros ($1.1 billion), expanding the range of its fibre network business.

** Norway’s sovereign wealth fund and property investment group Prologis Inc have agreed to jointly buy a $1.99 billion logistics real estate portfolio, Norges Bank Investment Management (NBIM) said in a statement.

** Asahi Kasei has offered 8.9 billion Danish crowns ($1.31 billion) to buy Veloxis, it said, a deal that would give the Japanese electronic materials maker access to the U.S. pharmaceutical market.

** Swiss steelmaker Schmolz+Bickenbach STLN.S said its survival was on the line after the country’s Takeover Board rejected a request from its two largest shareholders which could make their participation in a capital hike less likely.

** Euromoney agreed to buy specialist news and data firm Wealth-X for $20.4 million in cash to expand its portfolio of business-to-business information providers.

** Swiss drugmaker Novartis is betting on heart drug prospect inclisiran in a $9.7 billion takeover of The Medicines Co as it challenges cardiovascular medicines from Amgen Inc, Sanofi and Regeneron Pharmaceuticals.

** Indian digital payments company Paytm said it has raised fresh funds from a group of investors including existing backers SoftBank’s Vision Fund and China’s Ant Financial Services in a deal valuing the firm at $16 billion.

** The Italian government will lend additional money to carrier Alitalia to keep it afloat after a group of potential rescuers backtracked last week, two sources close to the matter said.

** Britain’s Just Eat urged shareholders to shun a $6.3 billion cash offer from Prosus, saying a currently lower valued deal with Takeaway.com was a better bet as it would create the largest food delivery firm outside China.

** Telecoms and cable company Altice Europe said that its SFR FTTH unit had agreed to buy French fibre wholesale operator Covage for around 1 billion euros ($1.1 billion).

** South African retailer Pepkor Holdings said it will exit Zimbabwe after an economic crisis in the country hurt its performance.

** French lottery operator FDJ (Francaise des Jeux) , whose high-profile privatisation was launched by the government this month, said it would buy software publisher Bimedia.

** Sika is buying Romanian mortar and thermal insulations company Adeplast, the Swiss construction chemicals maker said.

** China Mengniu Dairy Co Ltd plans to buy the owner of some of Australia’s best known milk brands from Japan’s Kirin Holdings Co Ltd for A$600 million ($407 million), its second Down Under dairy buyout in two months.

** HP Inc HPQ.N reiterated on Sunday its rejection of Xerox Corp’s XRX.N $33.5 billion cash-and-stock offer for the company, adding that the proposal “significantly undervalues HP.”

** Private equity firm Silver Lake is nearing a deal to acquire First Advantage that could value the background checks provider at more than $1.5 billion, including debt, people familiar with the matter said on Sunday.

** Japanese hotel operator Unizo Holdings said on Sunday it had received six more buyout offers at a price competitive with an existing $1.6 billion bid proposed by Blackstone Group.

** Abu Dhabi has partnered with U.S. non-profit organisation Mayo Clinic in a joint venture to operate one of the largest hospitals in the United Arab Emirates as it seeks to become a regional hub for world-class healthcare.

** Creditors of Abu Dhabi-based Al Jaber Group are considering enforcing claims against the owners of the group after delays in executing a restructuring agreement, the latest in a long-running debt dispute, two sources familiar with the matter said.

** Singapore’s state investor Temasek, the biggest shareholder in Austria’s AMS, backs the sensor maker’s planned $5 billion takeover of German lighting group Osram , the fund’s managing director told a magazine on Saturday.

** German chemical giant BASF has begun construction of its $10-billion integrated petrochemicals project in China’s southern province of Guangdong, the company said in a statement on Saturday.

** UniCredit has struck a deal to reduce its exposure to Turkey’s Yapi Kredi, three sources told Reuters, a move seen as a first step towards the Italian bank’s full exit from the recession-hit country. (Compiled by Praveen Paramasivam and Ambhini Aishwarya in Bengaluru)

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