Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Deals of the day-Mergers and acquisitions

Published 18/05/2020, 08:00 pm

(Adds Tianqi Lithium Corp, Eneva SA , Cattolica Assicurazioni, FAB; Updates Total , Thyssenkrupp)

May 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** First Abu Dhabi Bank (FAB) said it mutually agreed with Lebanon's Bank Audi to stop the potential acquisition of its Egypt business, according to a statement. Brazilian power company Eneva SA ENEV3.SA is not planning a new bid for a merger with rival AES Tiete SA TIET11.SA , Eneva's chief executive told analysts, although it is still eyeing acquisition opportunities. Italian insurer Cattolica Assicurazioni CASS.MI could expand an insurance partnership with bank Banco BPM, while the fate of a similar joint venture with rival UBI is still unclear, the company's CFO said. China's Tianqi Lithium Corp 002466.SZ , one of the world's biggest lithium producers, said its controlling shareholder planned to sell around a sixth of its holding, which could raise more than $200 million in much-needed cash. U.S. life science tools company Thermo Fisher TMO.N launched its agreed $11.5 billion takeover offer for Qiagen QIA.DE , calling on investors of the German genetic testing specialist to tender their shares. Thyssenkrupp TKAG.DE said it would pool units that it plans to sell or shut down while singling out three businesses that will definitely stay within the group: materials services, industrial components and car parts. French energy group Total TOTF.PA said it had agreed to buy up a large customer portfolio from Energías de Portugal EDP.LS and two of EDP's gas-fired combined cycle power plants in Spain, making it a leading player in the Iberian market. Total TOTF.PA has called off a plan to acquire Occidental Petroleum (NYSE:OXY)'s OXY.N assets in Ghana, which was conditional on the completion of the acquisition of Occidental's other assets in Algeria, the French energy company said. SoftBank Group Corp 9984.T is in talks to sell "a significant portion" of its T-Mobile US TMUS.O stake to controlling shareholder Deutsche Telekom AG DTEGn.DE , the Wall Street Journal reported, citing unidentified sources. Virgin Australia Holdings Ltd's VAH.AX administrators have short-listed potential buyers BGH Capital, Bain Capital, Indigo Partners and Cyrus Capital Partners, a source with knowledge of the matter said. Australia's Village Roadshow Ltd VRL.AX said it had granted private equity firm BGH Capital exclusive access to its books, even after the suitor cut its bid by 40% and made it conditional on Village re-opening its theme parks and cinemas. U.S. Senator Amy Klobuchar on Sunday blasted merger talks between ride-hailing firm Uber Technologies Inc UBER.N and online food delivery company Grubhub Inc GRUB.N , calling any deal bad for competition and consumers. First Abu Dhabi Bank FAB.AD (FAB) has put on hold discussions to acquire the Egyptian assets of Lebanon's Bank Audi AUDI.BY due to difficult market conditions, two sources told Reuters.

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.