February 10, 2020 / 9:07 PM / 6 days ago

Deals of the day-Mergers and acquisitions

Feb 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** Billionaire hedge fund manager Steve A. Cohen has cut his stake in Britain’s Metro Bank for the fifth time in just over two months following a difficult year in which the lender was engulfed in a damaging accounting scandal.

** Spanish lender Abanca said it had agreed to buy 95% of the shares in Portugal’s EuroBic, in which Angolan billionaire Isabel dos Santos has been trying to sell a 42.5% stake, in a bid to boost revenues.

** Xerox Holdings Corp raised its offer to buy HP Inc by $2 to $24 per share, following several rejections of its previous buyout offer by the PC maker.

** Simon Property Group Inc, the biggest U.S. mall operator agreed to buy rival Taubman Centers Inc in a deal valued at $3.6 billion.

** Edgewell Personal Care scrapped its debt-heavy$1.37 billion deal for peer Harry’s Inc after the U.S. competition regulator sought to stop the deal.

** China’s Geely Automobile and Volvo are in talks to combine their businesses to create a stronger global carmaker with listings in Hong Kong and possibly Stockholm.

** Google’s plans to buy a 12.5% stake in Africa’s largest wind farm have been canceled after delays to the project, Danish wind turbine maker Vestas said.

** Investors EQT and OMERS have agreed to buy German fibre-optic network company Deutsche Glasfaser from buyout firm KKR, increasing pressure on incumbents Deutsche Telekom and Vodafone to roll out high-speed internet access more widely.

** Atlas Copco made a takeover bid in cash for German vision technology group Isra Vision, valuing the company at 1.09 billion euros ($1.19 billion), including debt, expanding the Swedish company’s business in automated manufacturing and quality control.

** Investment group Exor, which controls carmaker Fiat Chrysler, is in exclusive talks to sell reinsurer PartnerRe to France’s Covea in a deal one source familiar with the matter said was worth around $9 billion.

** Europe’s Airbus SE is likely to acquire Canadian plane and train maker Bombardier Inc’s remaining stake in the A220 passenger jet program, two industry sources said. (Compiled by Sanjana Shivdas in Bengaluru)

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