3 Min Read
(Adds Tesco, Southeastern Asset Management ; Updates Sealed Air, Emaar Malls, Dow Chemical)
March 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:
** Dow Chemical and DuPont won the blessing of the European Union for their $130 billion merger on Monday by agreeing to sell substantial assets including key research and development activities.
** Sealed Air Corp said it would sell its cleaning and chemicals systems division, Diversey Care, and its food hygiene and cleaning business to Bain Capital Private Equity for about $3.2 billion, as it focuses on its higher-margin businesses.
** Indian auto parts maker Motherson Sumi Systems Ltd said it had completed the buyout of Finland's PKC Group for 571 million euros ($620 million).
** AccorHotels and French investment firm Edmond de Rothschild are in talks to buy Groupe Potel & Chabot, a company with sales of around 100 million euros ($105 million) which runs up-market conference centers and hospitality events.
** UK-based materials testing company Exova Group said it had received proposals for a possible cash offer, including one from Dutch firm Element Materials Technology.
** China Southern Airlines is in talks over a tie-up with American Airlines that could involve the U.S. carrier taking a stake in the state-owned airline, boosting routes between the world's two largest travel markets.
** The European Commission is open to talks over changes in commitments made by the Portuguese government on the sale of Novo Banco but wants counterbalancing measures, the EU executive body said.
** Dubai's Emaar Malls, operator of glitzy Middle East shopping centres, has made an $800 million offer for regional online retailer Souq.com IPO-SOUQ.DU, setting up a potential bidding war with Amazon.com.
** Two of Tesco's biggest shareholders have called on the supermarket group to withdraw its 3.7 billion pound ($4.7 billion) agreed offer for wholesaler Booker, potentially casting doubt on the deal's progress.
** Southeastern Asset Management has sold all its shares in Sika, the investor, which has previously backed the Swiss company's efforts to fend off a hostile takeover from Saint-Gobain, said on Monday.
$1 = 0.9203 euros Compiled by Laharee Chatterjee and Komal Khettry in Bengaluru