Deals of the Day - Mergers and Acquisitions

By Staff Reporter

Jun 11, 2013 09:26 PM EDT

The following bids, mergers, acquisitions and disposals were reported on Tuesday:

- Google Inc bought Israeli mapping startup Waze on Tuesday for just over $1 billion, a source familiar with the matter said, acquiring an online real-time mapping service to safeguard its lead in one of the most crucial aspects of smartphone usage. 

- Japanese mobile operator SoftBank Corp said it agreed to raise its offer for U.S. wireless carrier Sprint Nextel to $21.6 billion from $20.1 billion as it fights off a counter bid by Dish Network Corp. 

- U.S. energy firm Chevron is selling its stake in two Nigerian shallow water oil blocks, the company said, the latest oil major seeking to sell assets in Africa's biggest oil producer. 

- BC Partners is the last remaining bidder for Springer Science+Business Media, three people familiar with the negotiations said, as the publisher's owners plan to decide by the end of this week whether to sell or float the group. According to the sources, private equity firm BC Partners has made an offer valuing the German academic publisher between 3.1-3.5 billion euros ($4.1-4.6 billion). 

- China's state-owned Shenhua Group Corp Ltd and India's Aditya Birla Group are among companies considering bids for some of Rio Tinto Ltd's Australian coal assets, valued at an estimated $3.2 billion, people familiar with the matter told Reuters on Monday. 

- At an age when many 90-year-olds are satisfied with playing gin rummy in a nursing home, Dole Food Co Inc Chief Executive David Murdock is planning his next big deal. The billionaire, who already owns 40 percent of one of the world's largest producers and marketers of fruit and fresh vegetables, made an offer to buy out the rest of the company in a deal that values it at just over $1 billion.

- Malaysia's second-largest lender, CIMB Group Holdings Bhd, has decided to pursue a deal worth nearly $300 million to buy 58 percent stake in San Miguel Corp's banking unit, the president of San Miguel said. 

- Fortis Healthcare, India's No. 2 hospital chain, said it agreed to sell its stake in its Vietnam unit to Singapore-based Chandler Corp for $80 million, in a deal that would help cut its debt. 

- The Canadian-led consortium wooing Severn Trent walked away empty handed on Tuesday after the British water company refused to engage in talks before a bid deadline expired. 

- Dubai World, the state-linked group whose $25 billion of debt brought the emirate to the brink of financial collapse in 2009, has sold one of its UK assets as part of its efforts to repay creditors. 

- Phillips 66 said it is to sell Ireland's only refinery, another blow to Europe's ailing oil refining industry. An analyst said it was likely the 71,000 barrels per day Whitegate facility in Cork would have to shut as it will be hard to find buyers for it. 

- Generali SpA Chief Executive Officer Mario Greco took another step towards meeting a 4 billion euro ($5.3 billion) disposal target, agreeing to sell out of two Mexican companies for $858 million. The Italian insurer said it would bag a net capital gain of 500 million euros from the sale of 49 percent stakes in Seguros Banorte Generali, the larger or the two assets, and Pensiones Banorte Generali to Grupo Financiero Banorte, Mexico's No.4 bank. 

- Exxon Mobil Corp is in talks with Turkey's TPAO to buy a stake in a block in the Black Sea, and the country is on the hunt for shale gas in its own territory, the acting head of the state-owned energy company said. 

- British soft drinks maker Britvic Plc played down the chances of resurrecting merger talks with smaller rival A.G. Barr Plc, after the proposed deal was finally given the blessing of the competition watchdog. 

- Nedbank Group's purchase of an initial 36.4 percent stake in Mozambique's Banco Unico is expected to be approved by regulators in two to three months, the chief executive of the Mozambican lender said. 

- Royalty Pharma, pursuing a hostile $8 billion takeover of Irish drugmaker Elan Corp Plc, moved on Tuesday to make sure it is not blocked by a potential $200 million share buyback and drug spinoff at the target company.  

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