Deals of the day-Mergers and acquisitions

Franchise

07/06/2022 14:47

(Adds: PKN Orlen ; Updates: Ted Baker, Repsol)
    June 7 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 1340 GMT on Tuesday:
    
    ** A Polish court rejected an appeal from the country's
Human Rights Ombudsman against oil company PKN Orlen's  PKN.WA 
takeover of newspaper publisher Polska Press, PKN told Reuters
confirming an earlier report by state-run news agency PAP.
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    ** Ted Baker  TED.L  shares tumbled by more than 20% after
the company said its first-choice suitor had decided not to make
an offer, forcing the British fashion chain to consider other
options.
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    ** EIG Global Energy Partners is in early discussions with
Repsol  REP.MC  to buy a slice of the Spanish company's oil and
gas exploration and production business, three sources with
knowledge of the matter told Reuters.
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    ** Italy's top commercial broadcaster MediaForEurope (MFE)
 MFEA.MI   MFEB.MI  increased the cash part of its offer for its
Spanish-listed unit  TL5.MC  by 16.1% as it seeks to win
investor backing for its plans to create a European-TV group.
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    ** British waste-management specialist Biffa  BIFF.L  said
it has received a possible buyout offer from a private equity
firm that values it at about 1.36 billion pounds ($1.69
billion), sending shares to an all-time high.
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    ** Abu Dhabi state fund Mubadala and a fund managed by
European buyout firm EQT have agreed to buy Envirotainer, a
Swedish company which leases out cold containers for shipping
temperature-sensitive healthcare products.
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    ** Intesa Sanpaolo's  ISP.MI  private banking arm Fideuram
will resume looking for acquisition targets in its key markets
once the implications of the Ukraine crisis are clearer,
Fideuram CEO Tommaso Corcos was quoted as saying.
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    ** Global education group Pearson  PSON.L  has agreed to
sell its local K12 Courseware businesses in Italy and Germany to
Sanoma Corporation  SAA1V.HE  for 163 million pounds ($203
million), it said.
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    ** China's Yankuang Energy  600188.SS   1171.HK  said that
it was open to negotiations to buy the remaining shares in its
majority-owned unit Yancoal Australia  YAL.AX , after the
Australian coal firm rejected a $1.8 billion offer.
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    ** Coal miner Yancoal Australia  YAL.AX   3668.HK  said  a
proposed acquisition by major shareholder Yankuang Energy
 600188.SS  would not be in the best interest of its minority
shareholders.
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    ** Kohl's Corp  KSS.N  has entered exclusive negotiations
with retail store operator Franchise Group Inc  FRG.O  over a
potential sale of the department store chain, valuing it at
nearly $8 billion, the companies said late on Monday.
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    ** Elon Musk warned Twitter Inc  TWTR.N  on Monday that he
might walk away from his $44 billion deal to acquire the social
media company if it fails to provide the data on spam and fake
accounts that he seeks.
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    ** JetBlue Airways Corp  JBLU.O  on Monday improved its
offer for Spirit Airlines Inc  SAVE.N , intensifying the bidding
war for the ultra-low-cost-carrier whose shareholders are due to
vote this week on a merger agreement with Frontier Group
Holdings Inc  ULCC.O .
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    ** Nigeria's newest lender Titan Trust Bank has raised $300
million from African Export Import Bank (Afreximbank) for its
buyout of Union Bank, Afrexim bank said on Monday.
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    ** Saudi Arabia's sovereign wealth fund, the Public
Investment Fund (PIF), has been shortlisted to buy a stake in
the Middle East, North Africa and central Asia Starbucks
franchise held by Alshaya Group, two sources told Reuters.
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    ** The board of Spanish steel maker Acerinox  ACX.MC 
announced on Monday that it was walking away from preliminary
talks with Dutch rival Aperam  APAM.AS  for a potential tie-up
that would have created a European stainless steel giant.
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    ** Anaplan Inc  PLAN.N  said on Monday private-equity firm
Thoma Bravo had trimmed its takeover offer to $9.60 billion,
after the software maker agreed to resolve a disagreement
regarding compliance with certain merger terms.
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 (Compiled by Rajarshi Roy and Ruhi Soni in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))