Deals of the day-Mergers and acquisitions

In this article:

(Updates Pebblebrook, Vermilion Energy, Volkswagen, Tropicana Entertainment and Fortis; adds Bayer, Marriott Vacations, Gatemore Capital, Murray & Roberts, Manikay Partners, Bouygues, Intrum Justitia, Incarlopsa, Atlantia, Coinbase and DESFA)

April 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: ** Shire, the London-listed rare diseases specialist that is a potential takeover target for Japan's Takeda Pharmaceutical, is selling its oncology business to unlisted French drugmaker Servier for $2.4 billion. ** Pebblebrook Hotel Trust has sweetened its $3 billion-plus offer to buy U.S. peer LaSalle Hotel Properties after the owner of high-end locations including 'W' Los Angeles saw an initial bid rebuffed last month. ** Oil and gas producer Vermilion Energy Inc, said it would buy rival Spartan Energy Corp for C$1.40 billion ($1.11 billion), which will raise its light oil production in Canada and the U.S. ** Volkswagen is open to buying a majority stake in U.S. truckmaker Navistar "at some point," it said, as the German automaker prepares its trucks business for a possible stock market listing that could help raise funds to expand. ** German drugmaker Bayer is raising 3 billion euros ($3.7 billion) towards its planned $62.5 billion takeover of seed maker Monsanto by selling a 3.6 percent stake to Singapore's state investment company Temasek.

** Marriott Vacations Worldwide Corp, a U.S. provider of vacation timeshare properties, is in advanced discussions to merge with peer ILG Inc, according to people familiar with the matter.

** Gatemore Capital Management has built a stake in Wincanton and called on the British logistics company to break itself up by selling one of its two divisions, according to a letter sent by Gatemore to its own investors. ** Billionaire investor Carl Icahn is cashing out of casino business Tropicana Entertainment in a $1.85 billion deal that will see Eldorado Resorts picking up Tropicana's casino operations including its crown jewel in Atlantic City. ** South Africa's Public Investment Corporation, the second biggest shareholder in Murray & Roberts (M&R), said it had rejected an offer by Germany's ATON to acquire the engineering and construction firm.

** U.S.-based investment fund Manikay Partners will buy 19.9 percent of the Tel Aviv Stock Exchange in a deal valuing it at 551 million shekels ($156 million) while at least 30 percent of the exchange will be sold to the public, TASE said.

** Fortis Healthcare Ltd said its board would meet on Thursday to consider options after the hospital company became the target of rival takeover bids. ** French construction and telecoms group Bouygues said that it was not in discussions with any other operator, denying a news report that it was weighing a bid to acquire the French SFR telecoms unit of rival Altice. ** Sweden's Intrum Justitia has filed a binding bid for Intesa Sanpaolo's debt collection unit in a 3.6 billion euro deal that rids the Italian bank of 10.8 billion euros ($13 billion) in bad debts. ** China's Kam Fung Group Company Ltd is in talks to acquire the bulk of Incarlopsa, in a deal that would value the Spanish meat producer at 1 billion euros ($1.2 billion), people with knowledge of the matter said. ** Greece's privatisation agency asked a consortium led by Italy's Snam, which made the highest bid for a 66 percent stake in gas grid operator DESFA, to further improve its offer. ** Italy's Atlantia said it would sell a 29.9 percent stake in Spanish telecoms mast group Cellnex to Edizione, which is the Benetton family holding company and also its controlling shareholder. ** U.S.-based digital currency exchange Coinbase said it acquired Earn.com, and as part of the agreement, Earn's Chief Executive Balaji Srinivasan would join the company as chief technology officer. ** China National Chemical Corp, or ChemChina, confirmed that it plans to increase its stake in global energy trader Mercuria Group and sell the trader a minority stake in the state firm's refining business. ** Swiss staffing company Adecco Group is buying U.S.-based technology education provider General Assembly for $412.5 million including debt, it said, adding heavy investments in the business would initially drag on earnings. ** U.S. chipmaker Qualcomm will refile as early as Monday an application with the Chinese government to clear its $44 billion takeover of NXP Semiconductors, sources said, giving regulators more time to decide on the deal and averting a collapse. ** French healthcare and drugs group Sanofi has agreed to sell a portfolio of 12 pharmaceutical brands to Charterhouse Capital Partners' Cooper-Vemedia drugs manufacturing arm for 158 million euros ($195 million), the companies said. ** Australian investment firm Ellerston Capital said it has built a 5.1 percent stake in New Zealand's Fletcher Building Ltd - a disclosure that comes amid speculation that the embattled construction firm has become a takeover target. ** New Zealand honey maker Comvita Ltd said it is in talks with an unnamed party about a possible takeover, as it slashed its full-year profit forecast after bad weather and poor yields affected its crop. ** A lawsuit is alleging that Xerox Corp Chief Executive Officer Jeff Jacobson pursued a deal with Fujifilm Holdings Corp, even after Xerox's board advised him to halt negotiations, the Wall Street Journal reported on Sunday. ** Private equity firms Partners Group Holding AG and Charlesbank Capital Partners LLC are nearing a deal to acquire Hearthside Food Solutions LLC, a U.S. contract manufacturer used by food and drink companies such as Kellogg Co and PepsiCo Inc, for more than $2.4 billion, including debt, two people familiar with the matter said on Sunday. ** Goldman Sachs Group Inc bought Clarity Money, a personal finance startup, to bolster its Marcus online lending business, it said Sunday. ** Dutch pension fund APG Asset Management said on Friday it will vote against the Hammerson Plc's acquisition of shopping centre operator Intu Properties Plc if the company tables the deal for approval at its shareholder meeting. ** Brazilian President Michel Temer said on Friday that he has not yet received a proposal for a tie-up between Boeing and Brazilian planemaker Embraer that is expected to entail the creation of a third company. ** Private equity firm Vista Equity Partners Management LLC has agreed to merge two education technology firms it owns, PowerSchool and PeopleAdmin, with an investment from buyout firm Onex Corp, valuing the combined company at close to $3 billion, including debt, people familiar with the matter said. ** Brazil's central bank is considering rejecting or imposing restrictions on Itaú Unibanco Holding SA's purchase of a non-controlling stake in financial services firm XP Investimentos SA, a Brazilian newspaper reported. (Compiled by Ahmed Farhatha and Akshara P in Bengaluru)

Advertisement