August 29, 2018 / 11:12 AM / 2 years ago

Deals of the day-Mergers and acquisitions

(Adds Sinclair Broadcast Group, Wilsonart, UBS, Together Pharma)

Aug 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday: ** Advisory firm CamberView Partners agreed to sell itself to boutique investment bank PJT Partners Inc in a deal that comes as public companies seek help defending against activist investors demanding corporate changes. ** Fast-food chain operator Yum China Holdings Inc has rejected a $17.6 billion buyout offer from a consortium led by Chinese investment firm Hillhouse Capital Group, quashing what would have been one of Asia’s biggest deals this year, people with direct knowledge of the matter said. ** U.S. cable and satellite TV providers Altice USA Inc and Dish Network Corp have urged U.S. regulators not to approve the planned merger between T-Mobile US Inc and Sprint Corp in its current form, according to filings published. ** Sotera Health, a private-equity owned company that operates facilities that sterilize medical products and food, is exploring a potential sale worth as much as $5 billion including debt, people familiar with the matter told Reuters. ** Emergent BioSolutions Inc said it would buy privately held Adapt Pharma for up to $735 million to acquire its drug Narcan, the only needle-free emergency treatment approved to treat opioid overdose. ** German motor-home maker Hymer GmbH has attracted bids from Airstream parent Thor Industries Inc and private equity firm Centerbridge Partners that could value the company at about 2 billion euros ($2.3 billion), people familiar with the matter said, as reported by Bloomberg. ** The family that controls Campbell Soup Co looks to be on a collision course this week with new hedge fund investors pushing for the company to sell itself, heralding a potential proxy fight industry analysts have labeled the “fight of the fall”. ** European broadcaster RTL Group has withdrawn its interest in buying Dutch production company Endemol Shine to focus on developing its own scripted shows and expanding its new video-on-demand platforms. ** Dutch insurer ASR said it would consider bidding for Dutch rival Vivat if its Chinese owner Anbang sells it as part of wider plans to offload European assets. ** Brazilian conglomerate J&F Investimentos SA and Netherlands-based Paper Excellence are disagreeing on the final price for pulpmaker Eldorado Brasil Celulose SA, local newspapers reported citing unnamed sources. ** UBS is closing its British digital wealth management platform and selling the intellectual property rights to wealth management startup SigFig, executives at the Swiss bank told staff. ** HanksBrand licensor Bluestar Alliance LLC, managing women’s fashion labels including bebe and Tahari, is challenging competitor Authentic Brands Group LLC for the intellectual property of bankrupt gadget and gift retailer Brookstone Company Inc with a bid of $40 million, according to papers filed. ** Together Pharma, which produces medical cannabis, said it had signed a deal to buy a controlling 50.01 percent stake in an unnamed German company, which is one of its customers, for 2 million euros. ** Activist hedge fund Taconic Capital Advisors said that it would sell a 3.55 percent stake in Iraq-based oil producer Gulf Keystone Petroleum Ltd. ** Wilsonart, the maker of countertops and other furniture-manufacturing materials whose owners include industrial conglomerate Illinois Toolworks Inc, is exploring a sale that could value the private company at $2.75 billion, three people familiar with the matter said. ** Activist hedge fund Elliott believes Walt Disney’s deal to buy assets from Twenty-First Century Fox has valued Sky at more than $34 billion, higher than any of the current offers for the British broadcaster, Britain’s takeover regulator disclosed. ** Sinclair Broadcast Group Inc said it has filed a counterclaim in a Delaware court to Tribune Media Co’s lawsuit filed in early August against the company claiming a breach of contract. ** The French government will announce the merger of CNP Assurances and La Poste, which will fall under state-owned investment fund Caisse des Depots, a government source told Reuters confirming a report in Les Echos. (Compiled by Manogna Maddipatla in Bengaluru)

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