January 7, 2019 / 11:17 AM / 10 days ago

Deals of the day-Mergers and acquisitions

(Adds QEP Resources, Bandhan Bank, Embraer, Rowan Companies Plc, Petroregional del Lago; Updates Eli Lilly, Dollar Tree)

Jan 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** Eli Lilly and Co said it will buy Loxo Oncology Inc for $8 billion, an expensive bet on a pipeline of cancer drugs that target rare genetic mutations and the biggest acquisition in Lilly’s 143-year history.

** IT and consulting services provider DXC Technology Co said on Monday it would buy software development company Luxoft Holding Inc for about $2 billion to expand its digital offerings to the financial and automotive sectors.

** Australian medical centre operator Healius Ltd on Monday rejected a A$1.7 billion ($1.21 billion) buyout approach from China’s Jangho Group Co Ltd, denting its shares but leaving investors hoping for a higher offer.

** Mexican petrochemical company Alpek, a unit of conglomerate Alfa, said on Sunday it had agreed to sell two cogeneration energy plants to a subsidiary of London-listed power generator ContourGlobal for $801 million.

** Sanofi will pay Regeneron some $582 million in a revision of their deal in immuno-oncology, a growing sector in healthcare research which aims to help the body’s own immune system fight cancer.

** Activist hedge fund Starboard Value LP called on Dollar Tree Inc to sell its underperforming Family Dollar business and proposed replacing a majority of the board after revealing a stake in the U.S. discount retailer.

** India’s Bandhan Bank Ltd will buy mortgage provider Gruh Finance Ltd in a share-swap deal to build up its housing loan portfolio, the companies said.

** Hedge fund Elliott Management Corp offered to buy QEP Resources Inc, which has a big presence in the Permian Basin near major energy producers, for $2.07 billion, or $8.75 per share, 44 percent above the stock’s closing price on Friday.

** Brazil’s national security adviser Augusto Heleno said that the government is studying if the current deal between planemakers Embraer and Boeing is in its “ideal form” or if it will need to present suggestions.

** Hedge fund Canyon Capital Advisors warned it would vote against the $2.38 billion sale of offshore driller Rowan Companies Plc to rival Ensco Plc, casting doubt on a combination that had signaled optimism about the future of offshore exploration.

** France’s Maurel & Prom will invest $400 million to take a 40 percent stake in a Venezuela oilfield joint venture called Petroregional del Lago, state oil company PDVSA President Manuel Quevedo said. (Compiled by Vibhuti Sharma and Manogna Maddipatla in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below