4 Min Read
(Adds Rockwell Collins; Updates Stada, Akzo Nobel)
March 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:
** China's Shanghai Fosun Pharmaceutical is planning a bid for German generic drugmaker Stada, already the centre of a 3.6 billion euro ($3.8 billion) takeover battle between two private equity consortia, two people close to the matter said.
** German drug and crop chemical maker Bayer and U.S. seeds company Monsanto are launching asset sales worth roughly $2.5 billion as they seek regulatory clearance for their $66 billion merger, people close to the matter said.
** Malaysian state-owned oil company Petroliam Nasional Bhd (Petronas) has signed an agreement to supply liquefied natural gas to Japan's Hokkaido Electric Power Company for 10 years.
** Exxon Mobil Corp, the world's biggest publicly traded oil producer, has agreed to pay Italy's Eni $2.8 billion for a 25 percent stake in a giant Mozambique gas field to strengthen its position supplying rich Asian markets.
** Vietnam's state oil company Petrovietnam Oil Corp plans to sell a 35-40 percent stake to strategic investors and expects to raise at least $270 million, it said.
** Germany's Merck KGaA said it was seeking a buyer for its biosimilars unit, confirming a Reuters report in October.
** Dutch paints and coatings maker Akzo Nobel NV rejected a 21 billion euro ($22 billion) bid from larger U.S. rival PPG Industries Inc on Thursday, saying instead it wanted to "unlock value" by spinning off its chemicals business.
** Alphabet Inc's venture arm has invested in Currencycloud, a UK startup that provides technology to enable businesses to provide cross-border payments services to their customers.
** An investor group led by former music executive Edgar Bronfman Jr has dropped out of bidding for Time Inc, owner of People and Sports Illustrated magazines, according to a source familiar with the matter.
** Shares of Yingde Gases Group Co Ltd climbed 2.4 percent to a near two-year high after shareholders voted for major board changes, ending a four-month battle for control of China's top industrial gases company.
** French dairy group Lactalis has raised the price of an offer for shares in Parmalat it does not already own to 3 euros per share after complaints from some investors that its previous bid undervalued the Italian dairy group.
** German industrial gases group Linde said its planned merger with U.S. rival Praxair was on track and it aimed to raise its profitability this year, lifting its shares to the top of the German blue-chip DAX.
Merger talks between German industrial gases group Linde and U.S. rival Praxair are moving speedily and constructively, Linde's chief executive said, but workers must be persuaded of the benefits of the planned $65 billion deal.
** Royal Dutch Shell has agreed to sell most of its Canadian oil sands assets for $7.25 billion to Canadian Natural , the company said.
** Taiwan's Foxconn, the world's largest contract electronics maker, is not a favoured bidder for Toshiba Corp's memory chip business due to its close ties with China, sources with direct knowledge of the deal said.
** Taiwan's Cathay Financial Holding Co is in exclusive talks to acquire the Malaysian unit of Canada's Bank of Nova Scotia, in a deal that could be valued at around $200 million to $300 million.
** Tabcorp Holdings plans to sell its Queensland electronic gaming machine monitoring business to address competition concerns over its proposed A$6.4 billion ($4.9 billion) takeover of rival Tatts Group, Australia's competition regulator said.
** U.S. buyout firm Advent International Corp has acquired a minority stake in Brazilian online broker Easynvest for an undisclosed sum, the companies said in a statement on Wednesday.
** Aircraft component maker Rockwell Collins Inc's acquisition of aircraft interior maker B/E Aerospace Inc has been approved by the companies' shareholders, the companies said. (Compiled by Akankshita Mukhopadhyay and Arunima Banerjee in Bengaluru)