Deals of the day-Mergers and acquisitions Apr 4, 2017
April, 04th 2017
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday:
** British consumer goods maker Reckitt Benckiser is reviewing strategic options for its small food business, it said, as it seeks to pay down debt following its planned $16.6 billion purchase of Mead Johnson.
** Top-10 Tesco shareholder Magellan Financial Group said it had some concerns about the firm's 3.7 billion pound ($4.63 billion) takeover of British wholesaler Booker , but was "strongly supportive" of the firm's management.
** French electrical components maker Schneider Electric has agreed to sell agricultural information company Telvent DTN to private Swiss group TBG AG in a deal worth around $900 million based on enterprise value, Schneider said.
** Nordic telecom operator Telia Co said a deal to sell its stake in Tajik operator Tcell had lapsed as the authorities in Tajikistan had not given their approval in time.
** British luxury brand Burberry said it would transfer its beauty business to U.S. group Coty in a deal that will bring in around $225 million plus ongoing royalty payments in a bid to revitalise the division.
** Shares in Imagination Tech crashed more than 70 percent after the British company said its biggest customer, Apple, would stop using its graphics technology in iPhones, iPads and Apple Watches.
** The chairman of German industrial gases group Linde is prepared to use his casting vote to push through a $65 billion merger with U.S. rival Praxair in the face of worker opposition, he told the Financial Times.
** Southeast Asian ride-hailing firm Grab said it has agreed to buy Indonesian online payment startup Kudo, marking the first investment under a recently announced plan to commit $700 million to its largest market.
** Credit data company Experian Plc said it would sell a 75 percent stake in its email marketing business to private equity firm Vector Capital, to focus on its core businesses.
** Essar Global Ltd said it would sell Aegis Ltd to Singapore-based private equity firm Capital Square Partners, marking its exit from the BPO business and helping to retire its debt.
** German precious metals group Heraeus said it had taken full control of Swiss gold and silver processor Argor-Heraeus.
** Chinese conglomerate HNA Group and Apollo Global Management are looking to bid for German shipping finance provider HSH Nordbank, according to two people familiar with the matter.
** British private equity fund Apax Partners is close to finalizing a deal to buy Israel-based Syneron Medical , an aesthetic device company, for about $500 million, Israeli media reported on Sunday.
** The merger of Qatari banks Masraf Al Rayan, Barwa Bank and International Bank of Qatar will take six months to complete, Masraf Al Rayan's chairman Hussain Ali al-Abdulla said on Sunday. (Compiled by Aishwarya Venugopal in Bengaluru)