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Deals of the day: Mergers and acquisitions

Published 2019-10-31, 09:33 a/m
Updated 2019-10-31, 09:51 a/m
© Reuters.  Deals of the day-Mergers and acquisitions

Oct 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 13:30 GMT on Thursday:

** Fiat Chrysler FCHA.MI and Peugeot owner PSA PEUP.PA plan a 50-50 share merger to create the world's fourth-largest automaker, seeking scale to cope with costly new technologies and slowing global demand.

Marathon Petroleum Corp (NYSE:MPC) MPC.N chief Gary Heminger will leave the company next year after almost a decade in charge, launching sweeping changes demanded by investors at the biggest U.S. refiner, including the spinoff of its Speedway retail arm.

Canada's Bombardier BBDb.TO said it had agreed to sell its aerostructures business to Spirit AeroSystems SPR.N for more than $1 billion in cash and debt.

Carlsberg (CSE:CARLa) CARLb.CO reported a 5.3% rise in third quarter sales, boosted by strong sales in Asia and Western Europe, and said it had agreed to buy the remaining stake in a Cambodian brewery that it does not already own.

ABB ABBN.S is divesting its stake in two Chinese electrification businesses, the Swiss engineering company said, as it presses ahead with reviewing its operations and ditching underperformers.

Britain's Carpetright CPRC.L is in talks with its largest shareholder Meditor over a possible takeover at a huge discount to its closing value on Wednesday, prompting a 50% crash in its shareprice.

India's Yes Bank Ltd YESB.NS said it has received a binding offer of $1.2 billion from a global investor as the private-sector lender looks to raise capital through a fresh issue of shares, sending its stock 39% higher.

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German carrier Lufthansa LHAG.DE is ready to invest up to 200 million euros ($223 million) in struggling Italian airline Alitalia CAITLA.UL , a source close to the matter said on Thursday.

** Turkey's sovereign wealth fund (TVF) wants to buy the European Bank for Reconstruction and Development's (EBRD) 10% stake in the Istanbul stock exchange, broadcaster CNN Turk reported TVF general manager Zafer Sonmez as saying. South African telecoms major MTN Group Ltd MTNJ.J has ditched a plan to sell its 53% stake in Mascom Wireless Botswana, which was supposed to net the company $300 million. China is planning to abandon a planned merger of state-owned chemical firms ChemChina and Sinochem Group due to challenges in bringing the two management teams together, the Financial Times reported, citing two people close to the matter. Australia's Iluka Resources Ltd ILU.AX , the world's largest producer of zircon, said it was considering a demerger of an asset that earns royalties from a BHP Group BHP.AX iron ore operation - Mining Area C (MAC). Peruvian Airlines and Star Perú are set to merge after both were purchased by investment fund Global Investment Platform, the fund said on Wednesday. Diamond Eagle Acquisition Corp DEAC.O , a special purpose acquisition company, is in advanced talks to buy fantasy sports provider DraftKings Inc, Bloomberg reported on Wednesday.

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