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Deals of the day-Mergers and acquisitions
September 18, 2017 / 10:11 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds Jimmy Choo, Mitsui OSK Lines; Updates IAG, Telia)

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

** U.S. defense contractor Northrop Grumman Corp said it would buy missile and rocket maker Orbital ATK Inc for about $7.8 billion in cash, giving it access to lucrative contracts with NASA and the U.S. Army.

** Teva Pharmaceutical Industries Ltd said it would sell the remaining assets in its specialty women’s health business for $1.38 billion in two separate transactions.

** Luxury shoemaker Jimmy Choo Plc said its shareholders voted in favour of a $1.2 billion takeover by fashion group Michael Kors Holdings Ltd.

** Struggling retailer Sears Canada Inc’s top executive is negotiating a private-equity backed deal that could be valued at more than C$650 million ($533 million), the Wall Street Journal reported, citing people familiar with the matter.

** Itron Inc, which makes technology to monitor energy and water usage, said it would buy Silver Spring Networks Inc in a deal valued at about $830 million, to expand its presence in the smart city and smart grid markets.

** Brazilian renewable energy company Renova Energia SA has extended the deadline for exclusivity talks with a unit of Canada’s Brookfield Asset Management for a capital injection to Oct. 17

** AT&T is evaluating a sale of its pay TV operations in Latin America as it seeks to pay down debt following its planned $85.4 billion acquisition of Time Warner Inc, people familiar with the matter said.

** Chinese payments company Ant Financial is planning to resubmit its application for U.S. review of its deal to buy MoneyGram International Inc for $1.2 billion, a source familiar with the matter said.

** Zhongwang USA, an investment firm backed by a Chinese aluminium tycoon, and its acquisition target Aleris Corp have decided to extend a deadline to complete their merger by two weeks, according to representatives of the two companies.

** Chinese brokerage First Capital Securities Co Ltd denied that a unit of e-commerce firm JD.com was in talks to purchase a 24 percent stake.

** Shanghai Fosun Pharmaceutical Group is trimming the size of the stake it will buy in India’s Gland Pharma to 74 percent for $1.1 billion, in a bid to salvage the stalled deal that would be the biggest takeover by a Chinese firm in India.

** O.G. Oil & Gas Ltd’s Singapore unit intends to buy a 65.7 percent stake in New Zealand Oil & Gas Ltd, it said in a notice.

** Two Australian media moguls have lost a court challenge to CBS Corp’s planned buyout of bankrupt television broadcaster Ten Network Holdings Ltd, giving the U.S. media giant a strong upper hand ahead of a creditor vote.

** Wenner Media said it is exploring strategic options for its majority interest in the Rolling Stone magazine, as the New York-based publisher continues to shift from its print media business amid falling ad revenues.

** Spanish builder OHL, 51 percent owned by the Villar Mir family, said on Monday it had been in contact with China State Construction Engineering (CSCE) over potentially selling a stake, though no offer or decision had been made.

** Major shareholder Kuwait Investment Authority has hired Bank of America as a consultant to conduct feasibility study on potential merger of Kuwait Finance House and Bahrain-based Ahli United Bank, Kuwaiti newspaper al-Rai reports citing sources.

** Kenya’s Nakumatt Supermarkets will merge with local retailer Tuskys to help alleviate a severe cash flow problem that has left it with empty shelves and led to the closure of some outlets, Nakumatt’s managing director said.

** Australia and New Zealand Banking Corporation said Baoshan Iron & Steel Co would buy part of its stake in Shanghai Rural Commercial Bank Co, rather than Shanghai Sino-Poland Enterprise Management Development Corp.

** DP World, one of the world’s largest port operators, has agreed to buy two fellow state-owned maritime companies from its parent for $405 million.

** Walgreens Boots Alliance Inc is set to revise its agreement to buy some Rite Aid Corp stores, a move that may be enough for the drugstore chain operator to resolve outstanding antitrust concerns, Bloomberg reported.

** Jollibee Foods Corp, popular in the Philippines for its sweet-style spaghetti and fried chicken, is exploring a bid for Britain’s Pret A Manger which could value the upscale sandwich chain at over $1 billion, sources familiar with the matter said.

** Buyout group Blackstone has tasked Morgan Stanley with finding a buyer for its 45 percent stake in German iconic camera maker Leica, people close to the matter said.

** Investment firm Fir Tree Partners said on Monday it would immediately begin talks with Ultra Petroleum Corp’s management to pursue strategic alternatives.

** British Airways owner IAG has joined the field of bidders for parts or all of insolvent German airline Air Berlin, two people familiar with the matter told Reuters.

** Nordic telecom group Telia Company launched on Monday an offer to sell its remaining direct stake in Turkish operator Turkcell to institutional investors as part of a bid to focus on core markets.

** Japan’s leading shipper Mitsui OSK Lines aims to buy at least a 26 percent stake in a floating storage regassification unit (FSRU) in India, a company official said, to boost its exposure in the west coast project of Swan Energy . (Compiled by Roopal Verma and Anirban Paul in Bengaluru)

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