Deals of the day- Mergers and acquisitions

  • Reuters
  • Stock Market News
Deals of the day- Mergers and acquisitions

(Adds Monsanto (NYSE: MON ), UniCredit, Poste Italiane, SABMiller, Gecina ,
PSA; Updates Shanks Group)
May 24 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Tuesday:

** Monsanto Co MON.N , the world's largest seed company,
turned down Bayer AG's BAYGn.DE $62 billion acquisition bid as
"incomplete and financially inadequate" on Tuesday, but said it
was open to engage further in negotiations. The world's largest brewer Anheuser-Busch InBev ABI.BR
gained EU antitrust approval on Tuesday for its $100
billion-plus acquisition of SABMiller SAB.L on condition it
sell almost the whole of SABMiller's beer business in Europe.
French commercial property group Gecina GFCP.PA said it
would maintain its offer worth at least 1.5 billion euros ($1.67
billion) for Fonciere de Paris (FdP) after the company's biggest
shareholder backed a lower rival bid. Aircraft components maker TransDigm Group Inc TDG.N
said it would buy ILC Holdings Inc from private equity firm
Behrman Capital for $1 billion to expand its spare parts
business. Cartier owner Richemont CFR.VX is in exclusive talks to
buy a controlling stake in Italian jewellers Buccellati from
local private equity firm Clessidra, two sources familiar with
the matter said. A long-delayed deal between UniCredit CRDI.MI and
Santander SAN.MC to merge their fund management businesses has
been put on hold as the Italian bank looks for a new CEO, four
sources with knowledge of the matter said. Italy plans to transfer 35 percent of Poste Italiane
PST.MI to state lender Cassa Depositi e Prestiti,
strengthening ties between the two groups ahead of a possible
new Poste share sale on the market, four sources close to the
matter said. The French government is weighing a possible sale of part
or all of its 14 percent stake in PSA PEUP.PA , the maker of
Peugeot , Citroen and DS cars, Les Echos reported. Unilever (LON: ULVR ) NV UNc.AS , Henkel & Co KgaA AG HNKG_p.DE ,
L'Oreal SA OREP.PA and other companies have submitted
first-round bids in the auction for OGX shampoo maker Vogue
International LLC, people familiar with the matter said.
Nissan Motor Co 7201.T is considering selling its 41
percent stake in auto parts supplier Calsonic Kansei Corp
7248.T to raise cash for research and development in electric
cars and artificial intelligence, the Nikkei newspaper reported.
South Africa's Ascendis Health Ltd ASCJ.J said it
bought two European companies as part of its plan to expand
globally and diversify its pharmaceutical products. Dubai Group is in the process of selling its stake in
Shuaa Capital SHUA.DU and is also obliged to divest its
holdings in EFG Hermes HRHO.CA and Bank Muscat BMAO.OM this
year, the chief executive of Dubai Group's parent firm said.
PTT Exploration and Production Pcl (PTTEP) PTTEP.BK ,
Thailand's largest oil and gas explorer, said on Tuesday it was
keen to buy a stake in Yadana gas field in Myanmar from Chevron (NYSE: CVX )
Corp CVX.N . Papua New Guinea may challenge the $2.2 billion merger
between Oil Search Ltd OSH.AX and InterOil Corp IOC.N if
they fail to comply with anti-competition procedures, the
country's corporate watchdog said. Creditors of struggling South Korean shipper Hyundai
Merchant Marine Co Ltd 011200.KS have agreed to a 680 billion
won ($570 million) debt-for-equity swap, lead creditor bank
Korea Development Bank said. Britain's Shanks Group Plc SKS.L is considering a bid
for Van Gansewinkel Groep BV, Benelux's largest waste management
company, for an undisclosed sum, the companies said.
A Chinese investment group has bought a 65 percent stake
in Italy-owned sports media rights group MP & Silva, one of the
investors Beijing Baofeng Technology Co Ltd 300431.SZ said in
a filing on Tuesday.
($1 = 0.90 euros)

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