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Mergers and Acquisitions Acquisitions

  • *Idemitsu buys 31.3 pct Showa Shell. TOKYO, Dec 19- Idemitsu Kosan Co said on Monday it completed the purchase of just under a third of rival refiner Showa Shell Sekiyu KK, cutting the amount of shares it planned to buy after facing opposition from Idemitsu's founding family. Idemitsu had planned to buy 33.3 percent of Showa Shell from Royal Dutch Shell before...

  • BEIJING/ DUBAI, Dec 19- Privately-run CEFC China Energy is in advanced talks to secure a stake to develop onshore oilfields in the United Arab Emirates under a 40- year deal, two industry sources with knowledge of the discussions said on Monday. CEFC is in discussions with state-owned Abu Dhabi National Oil Co. to try to acquire 10 percent of the Abu Dhabi Company...

  • Merge and Acquisition

    Toronto-based insurance group Fairfax Financial has agreed to buy Swiss insurer Allied World Assurance for $4.9 billion in cash and stock.

  • PARIS, Dec 19- Iran has finalised an agreement with Airbus to acquire 100 jetliners, the first of which is tentatively expected to be delivered in mid-January, a senior official said on Monday. Iran, which last week finalised a parallel deal with Boeing for 80 jets, has reached agreements with foreign leasing firms to finance a total of 77 aircraft, including 42 from...

  • Dec 18- Toronto- based insurance group Fairfax Financial Holdings Ltd has agreed to buy Swiss insurer Allied World Assurance Company Holdings AG for $4.9 billion in cash and stock, the companies said on Sunday. Fairfax will pay owners of Allied World $54 per share- $10 in cash and $44 in Fairfax stock. Allied World would operate "on a decentralized basis" within the...

  • The offer with dividend amounted to $54 per share for Allied World, or an 18 percent premium above the insurance company's closing price on Friday, the release said.

  • HONG KONG, Dec 18- China Vanke Co Ltd, the mainland's biggest property company by sales, said on Sunday it was terminating a key agreement to acquire a property development arm of Shenzhen Metro Group after it failed to get the approval of some of its major shareholders. Fearing a hostile takeover attempt by Baoneng, Vanke announced in June it had agreed to buy the...

  • Vivendi, led by French billionaire and corporate raider Vincent Bollore, became Mediaset's No. 2 shareholder behind Fininvest- the holding company of former prime minister Silvio Berlusconi- when it reached an initial goal of building a 20 percent stake this week. The Italian government cautioned Vivendi against mounting a hostile takeover bid for Mediaset,...

  • He bought Viacom through a hostile takeover in 1987, and later added Paramount Pictures and CBS. He split Viacom from CBS in 2006.. The announcement that Redstone is stepping down from the board came just days after he and Shari Redstone withdrew a proposal for CBS and Viacom to explore a merger.

  • HONG KONG, Dec 16- First Capital Securities Co Ltd plans to acquire JPMorgan Chase& Co's minority stake in a Chinese joint venture, in what would be the first departure by a prominent global investment bank from China's securities sector. The Shenzhen- listed securities group said in an exchange filing on Friday that it would buy the 33.3 percent stake in joint...

  • JOHANNESBURG/ LONDON, Dec 15- Anheuser-Busch InBev will sell its stake in South Africa's Distell Group to state-owned pension fund Public Investment Corp, it said on Thursday, as agreed during its takeover of SABMiller. South Africa's Competition Commission made the disposal a condition of the $100 billion takeover. Distell's other large shareholders,...

  • Dec 14- General Electric Co said on Wednesday it would sell its $3 billion industrial solutions business, which makes electrical equipment, as part of a push to focus on its core businesses. The industrial conglomerate expects to raise about $4 billion from the sale of the unit as well as the previously announced sale of its water business, GE said in an investor...

  • LONDON, Dec 14- South Africa's Rand Merchant Investment Holdings ramped up its presence in the British insurance market on Wednesday with the purchase of a 30 percent stake in Hastings, driving the UK firm's shares to 2-1/ 2 month highs. RMI has a majority stake in OUTsurance, which offers motor and home insurance in Africa, Australia and New Zealand, and minority...

  • NEW YORK/ ZURICH, Dec 14- Switzerland's Actelion Ltd confirmed it was in talks about a "strategic transaction", with a report that Sanofi had filled the gap left after U.S. healthcare group Johnson& Johnson ended its takeover bid. Actelion's shares were indicated 3.7 percent lower on Wednesday after The Wall Street Journal, citing people familiar with the matter,...

  • SYDNEY, Dec 14- A group including private equity firm KKR and Macquarie Group Ltd on Wednesday offered up to A $7.3 billion to buy Australian lottery operator Tatts Group, threatening a takeover deal with Tabcorp Holdings Ltd.. The consortium, also including Morgan Stanley Infrastructure and First State Superannuation Scheme, has the advantage of not needing...

  • SYDNEY, Dec 14- A consortium advised by Macquarie Group Ltd on Wednesday offered up to A $7.3 billion to buy Australian lottery operator Tatts Group, threatening a takeover deal with Tabcorp Holdings Ltd. The consortium, including private equity giant KKR, has the advantage of not needing approval from the competition regulator, which is closely examining the...

  • MILAN/ PARIS, Dec 13- French tycoon Vincent Bollore has raised the stakes in a battle with Silvio Berlusconi's Mediaset by saying Vivendi could buy up to a fifth of the Italian broadcaster, stirring talk of a hostile takeover bid. On Monday the French firm had said it had 3 percent of Mediaset but aimed to raise that to 20 percent as part of plans to expand in southern...

  • MILAN/ PARIS, Dec 13- French tycoon Vincent Bollore has raised the stakes in a battle with Silvio Berlusconi's Mediaset by saying Vivendi could buy up to a fifth of the Italian broadcaster, stirring talk of a hostile takeover bid. The French company on Monday had said it had 3 percent of Mediaset but aimed to raise that to 20 percent as part of plans to expand in...

  • MILAN/ LONDON, Dec 13 (Reuters)- European shares rose on Tuesday, helped by a rally in Italy's biggest bank UniCredit on plans to bolster its balance sheet, while takeover speculation allowed Mediaset to make its best one-day gain ever. Mediaset surged 31.9 percent, the biggest gainer in Europe, after French media group Vivendi said it owned a 3 percent stake in the...

  • By Agnieszka Flak and Gwénaëlle Barzic. MILAN/ PARIS, Dec 13- French tycoon Vincent Bollore has raised the stakes in a battle of nerves with Silvio Berlusconi's Mediaset by saying Vivendi could buy up to a fifth of the Italian broadcaster, stirring talk of a hostile takeover bid. Vivendi, led by chairman and biggest shareholder Bollore, now owns 3 percent of...