Deals of the day-Mergers and acquisitions

  • Reuters
  • Stock Market News
Deals of the day-Mergers and acquisitions
Credit: © Reuters.

(Updates Intesa)

June 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Italy's antitrust authority cannot clear Intesa Sanpaolo 's ISP.MI offer for rival UBI UBI.MI for now because of uncertainties over a planned asset sale aimed at solving competition issues, a document showed on Tuesday. U.S. luxury jeweler Tiffany & Co TIF.N , which is being bought by France's LVMH (PA: LVMH ) for $16 billion, said it had amended some of its debt agreements to bolster its liquidity amid the coronavirus pandemic after its quarterly sales sank 44%. AllianceBernstein AWF.N , which holds around a 1.25% stake in MasMovil MASM.MC , said a takeover offer for the Spanish telecoms company from three private equity funds was too low and asked the board to seek better terms or rival bids. Gauging the market impact of Italian shipyard Fincantieri's FCT.MI bid for France's Chantiers de l'Atlantique is proving difficult and is likely to take some time, the European Union's antitrust chief Margrethe Vestager said. The founding family of Britain's Iceland Foods and its chief executive have taken full ownership of the frozen food specialist, which has seen a two decade-high market share during the coronavirus crisis. Japanese luxury toilet maker Lixil Group Corp 5938.T said it was selling its stake in household goods retailer Lixil Viva 3564.T as it continues to streamline its operations following a high-profile boardroom drama last year. South African retailer Steinhoff SNHJ.J warned of a "material" hit to revenue in 2020 and said its planned disposal of home furnishings chain Conforama Iberia had lapsed due to the coronavirus crisis. German freight technology firm Sennder said it was merging with French peer Everoad in a deal that keeps it on track for its target of 1 billion euros ($1.1 billion) in revenue by 2024. U.S. investment fund Blackrock (NYSE: BLK ) Inc BLK.N and other investors have built stakes in Spanish telecom operator MasMovil MASM.MC in the days after the filing of a formal bid on June 1, according to the Spanish stock market regulator. South Korea's Hyundai Development Co 294870.KS said it wants new terms for its acquisition of Asiana Airlines 020560.KS after the carrier's already hefty debt burden increased by some $3.8 billion. Private equity investors are seeking Chinese companies to take private in the hope they can snap up bargains amid the coronavirus-related sell-off, but the banks that help find such deals are proving less keen to finance them. Administrators in charge of South Africa's Edcon are proposing selling parts or all of the country's oldest non-food retailer under a plan that may lead to significant job losses, after the company filed for a form of bankruptcy protection in April. Oil and gas producer Occidental Petroleum (NYSE: OXY ) OXY.N is reviewing options for its Middle Eastern assets in a bid to ease its debt load, Bloomberg News reported on Monday, citing people familiar with the matter.

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