January 22, 2019 / 10:51 AM / 9 months ago

Deals of the day-Mergers and acquisitions

(Adds eBay, Arconic, Public Power, Telefonica, PKN Orlen, Moldindconbank, Colfax, EWE, Telecom Italia, RWE, Trans-Amazonian Highway, Gold Fields)

Jan 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Hedge funds Elliott Management and Starboard Value have taken stakes in eBay Inc and are pushing for changes including the sale of some of the e-commerce company’s businesses.

** U.S. aluminum products maker Arconic Inc said it was no longer pursuing a sale of the company because it had not received an acceptable offer, sending its shares plunging as much as 21 percent.

** Colfax Corp is pressing ahead with plans to sell its air and gas handling unit Howden as part of a shift to focus on the medical devices industry and has hired Goldman Sachs to handle the process, four sources close to the matter told Reuters.

** The Indian government is likely to seek to raise about 800 billion rupees ($11.21 billion) through the sale of state-owned assets in the next fiscal year, beginning April 1, two government sources with direct knowledge of budget discussions told Reuters.

** German utility EWE aims to sell a minority stake seen worth up to 1.6 billion euros ($1.8 billion) in the second half of 2019, its chief executive said, adding it was open to foreign investors.

** Australian cobalt developer Jervois Mining said it has agreed to buy a Canadian cobalt explorer with operations in Uganda, as the hunt for quality mines in the battery materials sector gains pace.

** Italy’s Banca Carige needs 200 million euros ($227 million) of fresh capital to clean its balance sheet from soured loans and to attract a potential buyer in the future, daily II Sole 24Ore reported.

** Singapore conglomerate Keppel Corp and Singapore Press Holdings (SPH) said they will not raise their offer price to gain majority control of mobile operator M1 Ltd, a move that could put pressure on Axiata Group, M1’s single largest shareholder.

** TomTom, the Dutch navigation and digital maps company, said it has agreed to sell its Telematics, or the fleet management business, to Japan’s Bridgestone for 910 million euros ($1.03 billion).

** Australia’s competition watchdog has delayed its decision on whether to approve the A$15 billion ($10.68 billion) merger of TPG Telecom Ltd and the local arm of Britain’s Vodafone Group PLC after raising concerns in December.

** Spain’s Telefonica is negotiating the sale of its relatively small Central American operation in a move that should allow the company to focus on core regions and reduce its large debt, it said.

** Telecom Italia’s main shareholder Vivendi VIV.PA notes that the phone group’s chief executive seems to view separation of its fixed line network as not that easy, a Vivendi spokesman said.

** Brazil will add the Trans-Amazonian Highway, which cuts across the rainforest, to the list of projects for privatization, the infrastructure minister said, seeking new investment to pave the roadway that has been blamed for deforestation.

** French dairy group Lactalis announced the acquisition of Egyptian firm Green Land Company via its joint venture Lactalis-Halawa.

** Italy’s Autogrill has submitted a bid for the railways, motorway and airport catering business of France’s Elior, a source told Reuters.

** Greece’s Public Power Corp extended a deadline for binding bids for three coal-fired plants until Feb. 6 to give investors more time to review data on the sale.

** EU antitrust regulators will decide by Feb. 26 whether to wave through German utility RWE’s breakup of its networks and renewables unit Innogy with the assets to be divided between RWE and E.ON.

** State-run oil firm PKN Orlen has offered liquidity to newspaper distributor Ruch ahead of a possible plan to take over the company, two sources familiar with the matter said.

** Moldova has approved the sale of a 64 percent stake in its second-largest lender Moldindconbank to Bulgarian fund DOVERIE United Holding, the central bank said.

** South Africa’s Gold Fields said that rumours it was looking to merge with rival bullion firm AngloGold Ashanti were “absolutely false” after shares of both companies firmed on speculation of a merger. (Compiled by Manogna Maddipatla and Soundarya J in Bengaluru)

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