July 6, 2018 / 10:02 AM / 2 years ago

Deals of the day-Mergers and acquisitions

(Adds BP, Generali; Updates EchoStar)

July 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** U.S. satellite group EchoStar dropped a $3.2 billion takeover approach for Inmarsat after failing with a late attempt to persuade the British company into talks.

** BP Plc is in the lead to acquire the U.S. onshore shale assets of BHP Billiton Ltd, after submitting an offer worth well in excess of $10 billion, people familiar with the matter said.

** Rolls-Royce Holdings said it would sell its loss-making commercial marine business to Norway’s Kongsberg Gruppen ASA for 500 million pounds ($661 million), in the latest reshaping of the engineering company by CEO Warren East.

** The German government dismissed a report that it had privately raised concerns about Deutsche Bank, while JPMorgan denied it was interested in a stake in Germany’s biggest lender.

** Saks Fifth Avenue owner Hudson’s Bay confirmed that it was in talks with Austria’s Signa Holding over a potential joint venture for its European business.

** Spanish ride-hailing app Cabify said it had held no talks over selling any part of its business, after newspaper El Confidencial said it was considering selling to U.S. peer Lyft.

** Norway’s oil and gas firm Equinor is acquiring Danish power and natural gas trading firm Danske Commodities (DC) for 400 million euros ($468 million), it said.

** ABB will acquire Turkey’s AB Rotech, a privately-owned company specialising in robotic welding solutions and services for the automotive industry, the Swiss engineering company said.

** Apax Partners does not intend to make further offers for UK used car auctioneer BCA Marketplace after the WeBuyAnyCar owner rejected two acquisition proposals, the companies said in separate statements.

** Japanese trading house Mitsui & Co may boost its stake in Brazil’s Vale SA if other shareholders sell part of their holdings, a senior executive said, giving it greater influence over the iron ore giant’s management.

** Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said.

** Italy’s Generali, fresh from agreeing to sell a majority of its German life insurance unit, has almost wrapped up all of its planned disposals as it prepares for a new phase of expansion, Chief Executive Philippe Donnet said.

** Belgian diaper maker Ontex has rejected a takeover approach from private equity firm PAI Partners, arguing the swoop was too low. (Compiled by Manas Mishra and Nivedita Balu in Bengaluru)

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