Deals of the day-Mergers and acquisitions

Alliance Aviation Services

20/04/2023 12:31

April 20 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 11:00 GMT on
Thursday:

    ** Britain's Competition and Markets Authority said that
Australian hearing device maker Cochlear's purchase of Demant's
hearing implants business could hurt competition and mean higher
prices for the National Health Service.
    
    ** Sumitomo Metal Mining  5713.T  said it supports Teck
Resources'  TECKb.TO  plan to create two separate companies, as
the Vancouver-based miner fends off an unsolicited takeover bid
from mining giant Glencore  GLEN.L .
    
    ** Russia's second-largest oil producer Lukoil  LKOH.MM  has
bought into insurance company GARDIA, a former subsidiary of AIG
 AIG.N , one of the world's biggest commercial insurers, GARDIA
said earlier this week.

    **  Russia's government has approved the sale of
Volkswagen's  VOWG_p.DE  factory in the city of Kaluga, the
Vedomosti daily reported, citing two unnamed sources, a step
towards the German carmaker finalising its exit from Russia.
    
    ** Evonik's new Chief Financial Officer Maike Schuh sees a
wide range of potential investors for the German firm's
superabsorbents division, she said on Wednesday evening.
    
    ** Australian share registry firm Link Administration
 LNK.AX  said it will sell its UK-based Link Fund Solutions
(LFS) for up to $174.1 million to Dublin-based Waystone Group.
    
    ** Agricultural and construction machine maker CNH
Industrial  CNHI.MI  on Wednesday ceased its operations in
Russia and said it sold its business in the region for about $60
million.
    
    ** Australia's Essential Metals Ltd  ESS.AX  said that its
shareholders had rejected a A$136 million ($91.16 million)
takeover offer from a joint venture led by China's Tianqi
Lithium  002466.SZ  and Australian miner IGO Ltd  IGO.AX .
    
    **  Virgin Media O2 has kicked off the sale of all or part
of its share in Cornerstone, which owns and manages Britain's
largest mobile tower network and is likely to be valued at up to
3 billion pounds ($3.73 billion), the Financial Times reported.
    
    ** Australia's competition regulator blocked Qantas Airways
Ltd's  QAN.AX  A$611 million ($409 million) buyout of charter
flight operator Alliance Aviation Services Ltd  AQZ.AX ,
curtailing the airline's ability to tap demand from the
resources sector.


 (Compiled by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))