February 14, 2018 / 11:07 AM / 3 months ago

Deals of the day-Mergers and acquisitions

Feb 14 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Thyssenkrupp is not in talks with Finland’s Kone about its elevator business, Thyssenkrupp’s Chief Financial Officer Guido Kerkhoff told journalists after the group published first-quarter results.

** A decision on the sale of SkyBridge Capital LLC, owned by former White House communications director Anthony Scaramucci, to a consortium that includes Chinese conglomerate HNA Group should be made by the end of February, the firm’s chief investment officer said on Tuesday.

** Insurer Kemper Corp will acquire Infinity Property and Casualty Corp for about $1.3 billion in cash and stock to boost its nonstandard auto insurance business, the two companies said on Tuesday.

** Xerox Corp shareholder Darwin Deason asked a court on Tuesday to block the company’s merger with Japan’s Fujifilm Holdings Corp, claiming the U.S. photocopier maker’s board failed shareholders by approving a deal that undervalues the company.

** Broadcom Ltd cut the number of board seats it was trying to win at Qualcomm Inc to six from 11 on Tuesday, saying this would let Qualcomm shareholders push the U.S. chip maker toward a sale while ensuring continuity.

** Twitter Inc Chief Executive Jack Dorsey said on Tuesday that he saw value in the social media network remaining an independent company, downplaying recent speculation by analysts that it could be an acquisition target.

** Portuguese retail conglomerate Sonae SGPS SA denied an interest in Walmart Inc’s Brazilian operations after Brazilian newspaper Valor Economico reported the company could partner with buyout firms.

** German energy firm Innogy on Wednesday bought project rights for two solar power plants in Australia worth more than 460 megawatts, continuing its renewables expansion outside its core market Europe.

** Sky has tightened its grip on English Premier League soccer rights at a lower price than it currently pays, fuelling speculation that Twenty-First Century Fox could now be forced to pay more to buy the broadcaster.

** The decision by regulators that Twenty-First Century Fox would be a “fit and proper” owner of Sky will be challenged in court, campaign group Avaaz said.

** Online gambling company GVC has given away its Turkey business, hoping the move will help smooth its takeover of Ladbrokes after GVC’s lenders baulked at its exposure to a country where internet betting is illegal.

** More banks are poised to join a US$14bn financing backing US private equity firm Blackstone Group’s acquisition of a majority stake in the Financial and Risk business of Thomson Reuters Corp, banking sources said.

** Indian wireless carrier Idea Cellular on Wednesday launched a share sale to institutional investors to raise up to 35 billion rupees ($546 million) ahead of its merger with Vodafone’s Indian business. (Compiled by Sonam Rai and Karan Nagarkatti in Bengaluru)

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