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Deals of the day-Mergers and acquisitions December 11, 2019
December, 12th 2019

The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Commerzbank will offer minority shareholders of its Comdirect online brokerage unit Commerzbank shares as part of a planned full merger, following the failure of its cash offer.

** Aurubis AG, Europe’s biggest copper producer, is in advanced talks to sell its flat rolled products (FRP) division and hopes to agree a deal in 2020, CEO Roland Harings said.

** Amazon’s purchase of a stake in online food delivery group Deliveroo has been put in doubt by Britain’s competition regulator which said it raised “serious competition concerns” for consumers and may require an in-depth investigation.

** Correvio Pharma Corp said it would explore options including a sale, a day after its heart drug failed to win the backing of a panel of experts advising the U.S. Food and Drug Administration.

** Hudson’s Bay Co Chairman Richard Baker won the support of proxy advisory firm Glass Lewis for the takeover of the Canadian retailer, just days after a rival adviser recommended stakeholders vote against the plan.

** Thyssenkrupp’s elevator unit, which has been put up for sale by the ailing conglomerate, will cut costs, add lucrative service contracts and boost factory efficiency in a bid to raise margins and increase its appeal to potential buyers.

** Swiss buyout firm Partners Group has entered exclusive talks to buy Austrian packaging maker Schur Flexibles from fellow private equity investor Lindsay Goldberg Vogel, people close to the matter said.

** Metro expects net proceeds of 1.5 billion euros ($1.65 billion) from the sale of a majority stake in its China business and its struggling Real hypermarkets unit, both of which it said it hopes to close soon, the German wholesaler said.

** Nestle SA has agreed to sell its U.S. ice cream business to Froneri in a deal valued at $4 billion, moving control of brands including Häagen-Dazs to a joint venture the Swiss group set up in 2016.

** Activist investor Starboard Value LP is pushing healthcare service provider Mednax Inc to sell all or part of itself, the Wall Street Journal reported, citing people familiar with the matter.

** Brazil’s GOL Linhas Aereas Inteligentes SA said that Delta Air lines Inc has sold more than 32.9 million shares it held in the company, a few months after the Atlanta-based airline announced its decision to exit stake.

** Qatar’s sovereign wealth fund will invest about $450 million in a power distribution company controlled by Indian billionaire Gautam Adani, the latest in a series of foreign investments in India’s energy sector.

** Israeli conglomerate Delek Group said it was selling its remaining 14.99% stake in its Delek Automotive unit to an unnamed third party for 269 million shekels ($78 million).

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