Deals of The Day — Mergers and Acquisitions
The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:
- Cisco Systems Inc said it will buy Israeli software maker Intucell for about $475 million in cash to expand its mobile network management offerings. (Full Story)
- Three private equity firms have gone through to the second round of bidding for R&R Ice Cream, the maker of Fab lollies and Skinny Cow ice cream, banking sources said.Clayton, Dubilier & Rice (CD&R), Ontario Teachers Pension Plan and PAI Partners are interested in buying the firm, which could fetch around 900 million euros ($1.2 billion), the sources said on Wednesday. (Full Story)
- U.S. specialty drugmaker Allergan Inc said it would buy MAP Pharmaceuticals Inc for about $958 million in cash, an acquisition intended to widen its presence in the treatment of adult migraines. (Full Story)
- German travel and tourism group TUI AG has no intention of making an offer for majority-owned unit TUI Travel it said Travel, Europe's largest tour operator, said last week it had received an approach regarding a potential merger from the German company, which owns 56.4 percent of its shares.
- Chinese state-owned auto maker Dongfeng Motor Group Co is set to announce as early as this weekend a strategic alliance with Swedish truck maker Volvo AB, according to a Dongfeng official.
- Austrian man-made fibres group Lenzing may sell its plastics unit, which has 350 staff and more than 100 million euros ($133 million) in sales, its chief executive told a newspaper.
- Poland's No.1 refiner PKN Orlen has no plans to sell its Ceska Rafinerska unit, viewing it as its strategic asset, PKN's chief financial officer said.
- An Omani sovereign wealth fund is in advanced talks to buy a near 42 percent stake in Oman National Investment Corp Holding from a unit of Dubai's ruler's personal investment firm, two sources aware of the matter said.
- Bahrain-based Gulf Finance House is studying options to merge its affiliate, Khaleeji Commercial Bank, with other Bahraini banks, it said.
- Canadian grocer Metro Inc said it would sell nearly half of its stake in Alimentation Couche-Tard Inc for C$479 million ($482 million), cashing in some of its investment in the gas-bar and convenience store operator.
- Yahoo Inc said it bought "social news" start-up Snip.it, the latest acquisition to be announced under Chief Executive Marissa Mayer.
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