July 15, 2019 / 8:08 PM / 3 months ago

Deals of the day-Mergers and acquisitions

(Updates Yandex; Adds Atlantia, Osram Licht, Symantec, Callon Petroleum, Actis, Denel)

July 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Italy’s state railway Ferrovie dello Stato picked motorway operator Atlantia as a partner to join a consortium of investors for the rescue of national carrier Alitalia, Ferrovie said.

** Osram Licht has been approached by Austria’s AMS to discuss a non-binding 38.50 euros ($43.32) per share takeover offer, sparking a potential bidding war for the German lighting company.

** Cybersecurity company Symantec Corp has walked away from negotiations to sell itself to chipmaker Broadcom Inc over price disagreements, people familiar with the matter said.

** Callon Petroleum Co said it would buy Carrizo Oil & Gas Inc for $1.2 billion in stock, the latest in a string of acquisitions as energy companies scale up to boost cash flow and quell investor criticism over lack of returns.

** Private equity firm Actis said it had acquired the rights to manage two private equity funds previously managed by collapsed buyout firm Abraaj, in a deal aimed at strengthening its position in the Middle East and Africa.

** Saudi Arabia’s state defence company is continuing to hold commercial partnership talks with South Africa’s Denel which said this month it would not sell a stake to the Saudi firm.

** Australian wealth manager AMP Ltd said it would likely pull the A$3.3 billion ($2.3 billion) sale of its life insurance unit after the intervention of New Zealand’s central bank, raising concerns about its recovery strategy and sending its shares tumbling.

** Vietnam’s Military Commercial Joint Stock Bank is seeking to sell a 7.5% stake to one or more foreign investors this year, its chief executive officer said.

** China’s Xiaomi Corp has taken a stake of roughly 6% in compatriot chip designer VeriSilicon Holdings Co Ltd, as the smartphone maker revamps its years-long pursuit of success in semiconductors which it sees as central to driving innovation.

** Russian internet company Yandex’s joint venture with Uber has agreed to buy Russian taxi firm Vezet’s core business, further cementing Yandex’s role as a major online taxi operator in Russia and neighbouring countries.

** South Africa’s Bidvest Group said it would acquire Enx Group’s Eqstra Fleet Management and Logistics in a deal worth 3.1 billion rand ($222.3 million) on an enterprise value basis.

** Gilead Sciences Inc will invest $5.1 billion to raise its stake in Galapagos NV and partner with the Belgian-Dutch biotech firm to develop and commercialize its treatments for a ten-year period, the companies said on Sunday. (Compiled by Soundarya J and Shanti S Nair in Bengaluru)

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