June 10, 2020 / 10:30 AM / 23 days ago

Deals of the day-Mergers and acquisitions

(Adds DSM, Simon Property Group, Deliveroo, Grubhub, Fiat)

June 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Fiat Chrysler and Peugeot maker PSA face a lengthy EU antitrust investigation after they declined to offer concessions in a bid to allay EU antitrust concerns about their planned $50 billion merger, people familiar with the matter said.

** European food ordering firm Just Eat Takeaway.com NV said it was in advanced talks to buy Grubhub Inc in an all-stock deal that, if completed, would create the world’s largest food delivery company by revenue.

** Britain’s competition regulator has given itself two more months to make a final ruling on Amazon’s purchase of a minority stake in online delivery group Deliveroo so it can take full account of representations from all interested parties.

** Simon Property Group Inc, the biggest U.S. mall operator, said it was ending its $3.6-billion deal to buy Taubman Centers Inc, citing the beating the retail sector has taken during the COVID-19 pandemic.

** Dutch company DSM is among the final candidates to buy animal feed additives maker Erber Group, sources close to the matter told Reuters.

** ProSiebenSat.1 Media’s new CEO resisted calls for a European TV industry merger, saying cross-border consolidation would yield scant benefits and vowing the company would rebound from the coronavirus shock on its own.

** Israel’s antitrust authority cleared the proposed acquisition of Golan Telecom by Cellcom Israel, the country’s largest mobile operator.

** A consortium led by French private equity firm Ardian is nearing a deal with Telecom Italia to buy part of the former phone monopoly’s stake in mobile tower group INWIT INWT.MI, three sources told Reuters.

** German minerals miner K+S aims to agree a sale of its salt business in the Americas by the end of 2020 and has applied for an additional state-secured credit line to cut debt, Chief Executive Burkhard Lohr said.

** Embattled Swiss asset manager GAM Holding is no longer actively looking for a buyer or major strategic investor, Chief Executive Peter Sanderson said in a newspaper interview.

** Vietnam is seeking to raise around $50 million by selling a 9% stake in Haiphong Thermal Power via an auction on June 18, the government said.

** South Korea’s LG Chem Ltd said it has signed a conditional contract with China’s Ningbo Shanshan Co Ltd to sell most of its liquid crystal display (LCD) polarizer business for $1.1 billion. (Compiled by C Nivedita and Ayanti Bera)

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