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Deals of the day-Mergers and acquisitions

Published 2017-09-13, 06:19 a/m
© Reuters.  Deals of the day-Mergers and acquisitions

Sept 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:

** About two dozen bidders, mainly from China, are vying to buy the Hong Kong wealth management unit of AXA SA AXAF.PA , which the French insurer is looking to sell as it focuses on fast-growing businesses in Asia, three people familiar with the matter said. Michelin MICP.PA , which in July bought a stake in the influential Robert Parker wine guide, said it was not ruling out further acquisitions of similar upmarket, gastronomy brands. Britain's Clinigen Group CLINC.L agreed to buy Quantum Pharma QP.L for 150.3 million pounds ($200 million), bringing together two companies that specialise in the supply of unlicensed medicines to doctors and hospitals. Wood Textiles Holding will make way for R2G Rohan Czech's takeover of Pegas Nonwovens PGSN.PR after reversing course and agreeing to sell its 29.98 percent stake in the artificial fabrics maker, the company said. German drugs and pesticides group Bayer (DE:BAYGN) BAYGn.DE has further reduced its holding in Covestro 1COV.DE to 31.5 percent from 40.9 percent by selling 19 million shares in the plastics business for a total of 1.2 billion euros. ($1.4 billion). Dutch insurer ASR ASRNL.AS said it would buy the Dutch operations of Italy's Generali GASI.MI for 143 million euros ($171 million). Toshiba Corp 6502.T said it has signed a memorandum to accelerate talks to sell its memory chip business to a group led by private equity firm Bain Capital and chipmaker SK Hynix Inc 000660.KS . Home Capital Group Inc 's HCG.TO shareholders rejected a proposal for Warren Buffett's Berkshire Hathaway (NYSE:BRKa) to raise its stake in the company, voting against the board's recommendation in a third defeat for the U.S. billionaire this year. Nordstrom (NYSE:JWN) Inc's JWN.N founding family has selected private equity firm Leonard Green & Partners to help take the high-end retailer private, according to a source familiar with the matter. Health insurer Centene Corp CNC.N said it would buy privately held Fidelis Care for $3.75 billion to enter New York, the second largest managed care state by membership in the United States. Insolvent German airline Air Berlin AB1.DE has attracted buyer interest from China's LinkGlobal Logistics, which is likely to join a growing list of suitors, German newspaper Bild said. Energen Corp EGN.N sought guidance from an Alabama court on the state's shareholder rights laws which an activist investor had said it would use to force a sale of the U.S. oil and gas producer, a regulatory filing shows.

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