Deals of the day-Mergers and acquisitions

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

May 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:

Danone ( DANO.PA ), under pressure from investment funds over its returns, will sell a 9.8% stake in China Mengniu Dairy Company ( 2319.HK ), the food group said.

Private equity firm Clayton, Dubilier & Rice (CD&R) has agreed to buy London-listed UDG Healthcare ( UDG.L ) for 2.6 billion pounds ($3.7 billion), the pharmaceuticals services company said.

The Polish state will increase its stake in PKN Orlen ( PKN.WA ) to 50% as part of its plan for the refiner to take over smaller peer Grupa Lotos ( LTSP.WA ) and gas company PGNiG ( PGN.WA ), the state assets minister said.

Amsterdam-based technology investor Prosus NV (JO: PRXJn ) ( PRX.AS ) announced plans to acquire up to 45.4% of shares in its parent Naspers ( NPNJn.J ) of South Africa by issuing new Prosus shares in a deal aimed at moving part of the value of their massive stake in Tencent ( 0700.HK ) to Europe from Africa.

Japan's oil and metals giant Eneos Holdings Inc ( 5020.T ) will exit the coal mining business and sell some stakes in upstream oil assets, along with real estate and securities by March 2023 to improve cash flow, its president said.

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