March 27, 2018 / 10:39 AM / 2 years ago

Deals of the day-Mergers and acquisitions

March 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Tuesday:

** GlaxoSmithKline is buying Novartis out of their consumer healthcare joint venture for $13 billion, taking full control of products including Sensodyne toothpaste, Panadol headache tablets, muscle gel Voltaren, and Nicotinell patches.

** Akzo Nobel has agreed to sell its specialty chemicals business to investors led by U.S. private equity firm Carlyle Group for 10.1 billion euros ($12.54 billion)including debt, a milestone for the Dutch company as it struggles to recover from a tempestuous 2017.

** Melrose committed to a five-year ownership of GKN’s Aerospace division if it succeeds in its hostile bid for the engineering company after the British government made a rare intervention in the high-profile takeover battle.

** Property developer China Vanke Co Ltd said talks to buy a stake in Russia’s O1 are still ongoing and that no decision has yet been reached.

** Toshiba Corp looks set to have more options for its chip unit after China said it was still reviewing a proposed $18 billion acquisition by a Bain Capital-led consortium, making it highly unlikely that an imminent deadline for the deal will be met.

** Britain’s Green Investment Group (GIG), a Macquarie Group unit, said it acquired a 25-percent interest in the Westermost Rough offshore wind farm from Marubeni Corporation .

** Chinese conglomerate CEFC China Energy plans to sell its entire global property portfolio with a book value of over 20 billion yuan ($3.18 billion), Bloomberg reported citing sources familiar with the matter.

** Austrian property group CA Immo needs to see a concrete offer from Starwood before it can say whether it makes sense and if the price is fair, its finance chief said.

** FIT Hon Teng Ltd, the cable and connector division of Taiwan’s Foxconn, said it planned to buy Belkin International, a maker of smartphone accessories and home networking products, for $866 million.

** Hospital chain Fortis Healthcare Ltd said it was evaluating an unsolicited offer received from rival Manipal Health Enterprises Pvt Ltd on March 23.

** Holding company Discount Investment Corp said it has offered to buy the 54.7 percent stake in Space Communications held by Eurocom for 160 million shekels ($45.89 million).

** Commercial real estate company Brookfield Property Partners LP said on Monday it would acquire the 66 percent of GGP Inc that it does not already own in a cash-and-stock deal that values GGP at about $15.3 billion.

** A top executive of DISH Network Corp argued on Monday that AT&T Inc’s planned purchase of Time Warner Inc would give AT&T too much power to block competitors’ access to crucial content.

** Brazil’s power company Furnas Centrais Elétricas SA, a subsidiary of state-controlled Eletrobras, signed a $175-mln contract with the construction unit of Odebrecht for the expansion of a power plant in Rio, according to a document and a statement from Furnas. ($1 = 0.8053 euros) ($1 = 3.4868 shekels) ($1 = 6.2810 Chinese yuan renminbi) (Compiled by Nikhil Subba in Bengaluru)

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