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Mergers & Acquisitions

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Saudi's Alawwal Bank picks JPMorgan to advise on merger -sources

DUBAI, May 29 Saudi Arabian lender Alawwal Bank , 40 percent owned by Royal Bank of Scotland, has picked JPMorgan to advise it on a proposed merger with Saudi British Bank (SABB), sources familiar with the matter told Reuters on Monday.

UPDATE 1-Moody's sees Glencore paying up to $6 billion in possible Bunge deal

* Glencore would be likely to keep Baa2 rating (Adds Moody's comments, details of a possible deal)

Regulatory News, Bonds 26 May 2017

Moody's sees Glencore paying up to $6 billion in possible deal with Bunge

LONDON, May 26 Miner and trader Glencore may have to pay up to $6 billion in cash in a possible tie-up with U.S. grains trader Bunge based on current valuations, Moody's ratings agency said on Friday, adding it did not expect an outright acquisition.

Bonds, Regulatory News 26 May 2017

UPDATE 1-UK's Sainsbury's exploring bid for Palmer & Harvey - Sky News

LONDON, May 26 Sainsbury's, Britain's second largest supermarket group, is in the early stages of examining a takeover bid for wholesaler Palmer & Harvey (P&H), Sky News reported.

26 May 2017

UK's Sainsbury's exploring bid for Palmer & Harvey - Sky News

LONDON, May 26 Sainsbury's, Britain's second largest supermarket group, is in the early stages of examining a takeover bid for tobacco distributor Palmer & Harvey, Sky News reported.

26 May 2017

Safran investor TCI says reduced offer for Zodiac still too high

LONDON, May 26 UK hedge fund TCI said aero engine maker Safran's reduced offer for Zodiac Aerospace was still too high and it would vote against the deal.

26 May 2017

BRIEF-Valiant Holding achieves a stake of 89.8 percent in Triba

* VALIANT ACHIEVES A STAKE OF 89.8 PERCENT IN TRIBA Source text for Eikon: Further company coverage: (Gdynia Newsroom)

26 May 2017

UPDATE 1-Intesa Sanpaolo moves to syndicate Rosneft deal loan - sources

LONDON, May 25 Intesa Sanpaolo has launched the process to syndicate a loan it provided to Glencore and a Qatari sovereign wealth fund for their purchase of a 19.5 percent stake in Russia's Rosneft, banking sources said on Thursday.

25 May 2017

Thyssen, Tata see 400-600 mln euros of potential savings - report

FRANKFURT, May 25 German industrial group Thyssenkrupp and India's Tata Steel expect a merger of their European steel businesses to yield annual savings of 400 to 600 million euros ($448-673 million), a German magazine reported on Thursday.

Company Outlooks 25 May 2017

Russia's Megafon net profit dented by forex losses, debt

MOSCOW, May 25 Russia's second-biggest mobile operator Megafon said on Wednesday its first-quarter net profit more than halved year on year due to higher foreign exchange losses and debt raised to acquire internet group Mail.ru.

25 May 2017

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