April 18, 2017 / 10:17 AM / 9 months ago

Deals of the day-Mergers and acquisitions

(Adds Warburg Pincus, Verizon, Atlantia and Iberdrola; updates Cardinal Health)

April 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** U.S. drug distributor Cardinal Health Inc agreed to buy medical device maker Medtronic Plc’s medical supplies units for $6.1 billion and said it expected full-year adjusted earnings at the lower end of its forecast.

** U.S. annuities and life insurer Fidelity & Guaranty Life said it has terminated its agreement to be acquired by Anbang Insurance Group Co Ltd, becoming the latest deal involving the Chinese insurer to have fallen through in recent years.

** U.S. company Post Holdings is buying Weetabix from China’s Bright Food Group Co Ltd for 1.4 billion pounds ($1.8 billion), putting the British breakfast favorite back into the hands of a cereal company.

** South32 Ltd killed a $200 million deal to buy Peabody Energy’s Metropolitan coal mine in Australia after running into competition concerns about supply of coal to local steel makers.

** The state-backed fund Innovation Network Corp of Japan is looking at the auction of Toshiba Corp’s chip unit but did not participate in first-round bidding, INCJ Chairman Toshiyuki Shiga said.

** South African miner Sibanye Gold plans to tap shareholders for about $1 billion to partly fund a takeover of U.S.-based Stillwater Mining Co, it said, a day after the deal secured a U.S. regulatory approval.

** Cabela’s Inc said it agreed to be bought by fellow outdoor goods retailer Bass Pro Shops for a lower price than agreed, and that it would sell its bank unit in a two-step deal as it seeks regulatory clearance for the transactions.

** South Korea’s Netmarble Games Corp said it expects to have a war chest of some $4.4 billion for acquisitions after an imminent IPO, and plans to roll out its new blockbuster game to Japan and China this year.

** Vietnam’s trade ministry has submitted a plan for the divestment of the government’s majority stake in Sabeco , the company’s CEO said, moving the country’s largest brewer one step closer to a long-awaited privatization.

** Malaysia’s $28 billion Retirement Fund Inc (KWAP) has picked a $100 million stake in edotco, the telecommunications infrastructure services unit of mobile network operator Axiata Group Bhd.

** A Brazilian court has ordered state-controlled oil company Petróleo Brasileiro SA to suspend the sale of its stake in an exploratory block to Norway’s Statoil ASA after a union argued there should have been an open bidding process.

** China Hongqiao Group Ltd said it has terminated plans to subscript non-public A shares of Loften Environmental Technology Co and sell Loften the entire equity interest in Innovative Metal, as the plans did not comply with regulatory rules.

** The U.S. Federal Communications Commission said on Monday it approved Time Warner Inc’s sale of a broadcast station in Atlanta to Meredith Corp, a transaction that could help speed Time Warner’s planned merger with AT&T Inc .

** SharkNinja Operating LLC, the privately held U.S. manufacturer of Ninja blenders and Shark vacuum cleaners, is exploring a sale that it hopes will value it at more than $1.5 billion including debt, people familiar with the matter said on Monday.

** Spanish power utility Iberdrola is considering merging the operations of two Brazilian companies in which it is a major shareholder and eventually offer shares of the combined companies, newspaper O Estado de S.Paulo said.

** Russian tycoon Mikhail Prokhorov is in talks to sell his RBC media holding, which angered some in the Kremlin with its reporting on the business interests of people close to President Vladimir Putin, according to people briefed on the discussions.

** Italian toll-road company Atlantia is looking at the possibility of making a bid for Spanish rival Abertis in a deal that would create an industry giant with a market value of more than 35 billion euros ($37 billion), a source close to the matter said.

** Verizon Communications Inc has agreed to buy optical fiber from Corning Inc for at least $1.05 billion over the next three years as the No. 1 U.S. wireless carrier aims to improve its network infrastructure, the companies said.

** Private equity firm Warburg Pincus LLC said it had agreed to acquire a majority equity stake in CityMD, a privately held urgent care provider with a large presence in the New York metropolitan area. (Compiled by Ahmed Farhatha and Divya Grover in Bengaluru)

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