Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Deals of the day-Mergers and acquisitions

Published 2018-08-24, 04:10 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Cigna, ISS, Abu Dhabi National Oil, Haniel, Arconic, Papa John's)

Aug 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Enbridge Inc ENB.TO , Canada's largest pipeline operator, said it would buy its U.S. master limited partnership Spectra Energy (F:SEP) Partners SEP.N for a sweetened deal of $3.3 billion. Cigna Corp (NYSE:CI) CI.N shareholders voted in favor of the health insurer's proposed $52 billion acquisition of pharmacy benefit manager Express Scripts Holding Co ESRX.O , although the deal still needs clearance from antitrust authorities. Papa John's International Inc PZZA.O , the world's third-largest pizza delivery company, has hired Bank of America Corp (NYSE:BAC) BAC.N and Lazard Ltd LAZ.N to help find ways to stabilize the restaurant chain, which has come under pressure from its founder John Schnatter, people familiar with the matter said. State-owned Abu Dhabi National Oil Co (ADNOC) is in advanced talks with more than one potential buyer, including Italy's ENI ENI.MI , as it prepares to sell minority stakes in its refining business, two sources familiar with the matter said. Family-owned German investment group Haniel FHANI.UL has agreed to sell a 7.3 percent stake in retailer Metro AG B4B.DE to a Czech-Slovak investor group for an undisclosed sum, with the option of selling the rest of its holding at a later date. Aluminum products maker Arconic Inc ARNC.N is discussing acquisition offers for the entire company, even though it announced a sale process last month only for its building and construction systems unit, people familiar with the matter said. UniCredit CRDI.MI and Societe Generale SOGN.PA declined to comment on a report that Italy's biggest bank was working with a senior Rothschild banker to advise it on a possible merger with the French lender. Brazil antitrust agency Cade is considering imposing restrictions on the merger of Fibria Celulose SA FIBR3.SA and Suzano Papel e Celulose SA SUZB3.SA that would create the world's largest wood pulp producer, a Brazilian newspaper reported, citing sources. China Biologic Products Holdings Inc CBPO.O rejected a $3.9 billion offer from a consortium led by its former chief executive and said an affiliate of CITIC Capital had also withdrawn a competing bid. Talks between U.S. fund manager Guggenheim Partners and German reinsurer Munich Re MUVGn.DE have concluded without a deal, Bloomberg News reported. Shareholder advisory firm Glass Lewis & Co has recommended that shareholders of hotel owner LaSalle Hotel Properties LHO.N oppose the buyout by private equity firm Blackstone (NYSE:BX) Group LP BX.N , in a victory for LaSalle's unwelcome suitor Pebblebrook Hotel Trust PEB.N . Abu Dhabi's Sheikh Khaled bin Zayed Al Nehayan, cousin of Manchester City owner and Arab billionaire Sheikh Mansour bin Zayed Al Nahyan, failed in a 2 billion pounds ($2.55 billion) proposal to buy UK's Liverpool Football Club, the Daily Mail reported. Electra Private Equity ELTA.L has ended talks about a possible buyout of the company after failing to receive a firm offer from interested parties, it said. Australian pallets and container firm Brambles BXB.AX said it intends to demerge and list its IFCO Systems reusable-plastic-containers business and that it was also weighing selling IFCO, sending its shares to one-and-a-half-year highs. Platinum Equity is exploring a potential sale or initial public offering of Vertiv, a provider of backup power and fail-safe systems for data centers, which its private equity owner hopes will value the company close to at least $6 billion, according to sources familiar with the matter. Japan's Fair Trade Commission said it had approved the merger of two small regional banks after a lengthy review that had sparked a battle between the antitrust watchdog and financial regulators.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.