Deals of the day-Mergers and acquisitions

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

(Adds Sabre, Nova Ljubljanska Banka, Cigna, Avaya Holdings; updates Elanco)

Aug 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** The U.S. Justice Department sued to block travel technology firm Sabre Corp's SABR.O $360 million acquisition of Farelogix Inc, saying in court papers that it was a "dominant firm's attempt to eliminate a disruptive competitor." Nova Ljubljanska Banka (NLB) NLBR.LJ and Belgian insurer KBC Insurance NV are considering a sale of their life insurance venture NLB Vita, Slovenia's largest bank said in a statement. Elanco Animal Health ELAN.N agreed to buy Bayer's BAYGn.DE veterinary drugs unit in a cash and stock deal valued at $7.6 billion, creating the second largest animal health business and expanding Elanco's reach online. U.S. health insurer Cigna Corp (NYSE: CI ) CI.N is exploring a sale of its group benefits insurance business, which could be valued at as much as $6 billion, four people familiar with the matter said. Telecommunications equipment and software vendor Avaya Holdings Corp AVYA.N is considering an all-cash offer from private equity firm Clayton Dubilier & Rice LLC (CD&R) as an alternative to a potential merger with Mitel Networks Corp, people familiar with the matter said. The head of Egypt's state-owned Banque du Caire told reporters that he expects to sell 30-40% of the bank by the end of 2019 or in early 2020. Tod's TOD.MI Chairman Diego Della Valle has raised his stake in the luxury goods group he founded to 81.2%, making good on a pledge to buy shares after disappointing first-half results earlier this month, a regulatory filing showed. Japan's Ichigo Asset Management disclosed a 5.56% stake in hotel chain Unizo Holdings Co Ltd 3258.T , days after a SoftBank Group 9984.T firm swooped in with a $1.3 billion 'white knight' bid that investors see going higher. Private equity firms Bain and Carlyle CG.O are considering raising their offer for German lighting group Osram OSRn.DE , two people familiar with the matter told Reuters. French supermarket retailer Casino CASP.PA is targeting a further 2 billion euros ($2.2 billion) of asset sales as it steps up plans to cut debt and improve its financial performance. Activist investor Edward Bramson, who lost his battle for a seat on the board of Barclays BARC.L in May, is still pushing to overhaul the British lender, a report from his investment vehicle Sherborne Investors SIGC.L shows. Facebook Inc's FB.O messaging service WhatsApp is in talks with multiple Indonesian digital payment firms to offer their mobile transaction services, in a bid to tap the nation's fast growing e-commerce sector, people familiar with the matter said. British oilfield services provider Wood Plc WG.L said it would sell its nuclear energy business for about $305 million to Jacob Engineering JEC.N , acting to reduce its debt burden. South Africa's Harmony Gold HARJ.J is interested in many projects including AngloGold Ashanti's ANGJ.J Mponeng operations, CEO Peter Steenkamp said. French supermarket retailer Casino said it had raised its offer price to buy the 50% stake held in Brazilian retailer GPA PCAR4.SA by its Colombian unit Exito IMI.CN , as part of a plan to simplify its Latin American operations. PlayStation console maker Sony Interactive Entertainment said it would buy privately held Insomniac Games Inc, known for developing games such as Marvel's "Spider-Man" and third-person shooter "Ratchet & Clank" franchise.

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