Deals of the day-Mergers and acquisitions june 28, 2017
June, 28th 2017
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:
** Dutch healthcare company Philips has agreed to buy U.S.-based Spectranetics Corp, a maker of devices to treat heart disease, for 1.9 billion euros ($2.16 billion) including debt, as it expands its image-guided therapy business.
** Chinese e-commerce giant Alibaba Group Holding Ltd will invest an additional $1 billion in Southeast Asian online retailer Lazada Group, boosting its stake by nearly a third to 83 percent, the two companies said in a joint statement.
** Japan's Toshiba Corp has pushed back its timeline to clinch a sale of its prized flash memory chip unit, saying the $18 billion deal was being held up due to differences of opinion within the consortium chosen as preferred bidder.
** French industrial group Legrand has agreed to buy U.S. infrastructure company Milestone AV Technologies in a transaction worth $950 million based on enterprise value, Legrand said.
** U.S. private equity group Blackstone Group LLP agreed to buy Singapore-listed and Japan-focused Croesus Retail Trust (CRT) for S$900.6 million ($650 million), part of an trend of buyouts of real estate investment trusts (REITs).
** Brazil's Centrais Energeticas de Minas Gerais received a proposal from China's State Power Investment Overseas Co. for its stake in Santo Antonio dam, the company said in a securities filing.
** Canada's Competition Bureau said it would allow a planned merger between DuPont and Dow Chemical Co after both firms agreed to dispose of some assets.