Deals of the day - mergers and acquisitions

June 13
10:58 PM 2013

The following bids, mergers, acquisitions and disposals were reported on Thursday.

U.S.-based Royalty Pharma said it did not appear to have the backing of Elan shareholders in a vote that is set to decide the fate of its hostile bid of up to $8 billion for the Irish drug firm. 

Gannett Co Inc, the largest U.S. newspaper chain, struck a $1.5 billion deal for television company Belo Corp.

Poland's biggest bank PKO BP is not looking for more domestic deals after its $887 million purchase of the local arm of Sweden's Nordea, it said on Thursday, leaving rivals to fight out an expected further consolidation in the sector. 

Indonesian conglomerate Bosowa Corp is set to be announced as the preferred buyer of a 30 percent stake in mid-size lender Bank Bukopin, worth about $250 million, two sources with direct knowledge of the auction said. 

French utility EDF could take a stake of up to 40 percent in Rio Tinto's Saint-Jean-de-Maurienne aluminum plants in exchange for agreeing a discount on the electricity it supplies, financial daily Les Echos reported. 

British utility Centrica said it had bought a 25 percent stake in a venture licensed to explore for shale gas in northern England from Cuadrilla Resources and AJ Lucas for 40 million pounds ($62.8 million). 

Russian billionaire Alexander Lebedev has been in talks with investors about selling his 4.5 percent stake in flagship carrier Aeroflot OAO, the tycoon was quoted as saying by business daily Vedomosti. 

State-run Korea Electric Power Corp (KEPCO) denied a local media report that it is planning to bid for a stake in European nuclear fuel producer Urenco. A KEPCO spokesman said KEPCO instead has been considering investing in the expansion of Urenco's U.S. plant in the state of New Mexico. 

Abu Dhabi property firms Aldar Properties PJSC and Sorouh Real Estate SOR.AD said the two companies expect to close their state-backed merger by June 30, pending a ministerial resolution approving the deal. 

Kawasaki Heavy Industries Ltd said on Thursday it had ended merger talks with shipbuilding rival Mitsui Engineering & Shipbuilding Co Ltd and demoted its president, Satoshi Hasegawa, who supported the discussions. 

India kicked off its plan to raise 400 billion rupees ($6.92 billion) through asset sales this fiscal year with the sale of a stake in trading firm MMTC Ltd, whose discounted share offering was oversubscribed on Thursday. 

French bank Societe Generale is in talks to buy out rival Credit Agricole's 50-percent stake in their jointly owned brokerage Newedge, several sources familiar with the matter told Reuters. 

Shares of Alacer Gold Corp rose nearly 9 percent on Thursday after the mid-tier gold miner said it was looking to sell its Australian assets and focus on mining and exploring in Turkey. 

New York utility regulators approved Canadian power company Fortis Inc's $1.5 billion agreement to buy CH Energy Group Inc, the parent of New York power company Central Hudson.  

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