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Deals of the day-Mergers and acquisitions

Published 08/17/2019, 04:10 AM
Updated 08/17/2019, 04:10 AM
Deals of the day-Mergers and acquisitions

(Adds Joseph Tsai-Brooklyn Nets, Thyssenkrupp ; Updates British
Steel,)
Aug 16 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Friday

** Possible bidders for Thyssenkrupp's TKAG.DE elevator
division are under pressure to come up with firm offers, the
conglomerate's chief executive told German magazine Der Spiegel.
Turkey's military pension fund OYAK has reached a
provisional agreement to take over British Steel and could close
the deal by the end of this year, potentially saving thousands
of jobs. Alibaba Group Holding Ltd BABA.N co-founder Joseph Tsai
is buying a 51% stake that he doesn't already own in NBA's
Brooklyn Nets and its Barclays arena from Russian billionaire
Mikhail Prokhorov, the U.S basketball team said. Alibaba Group Holding Ltd BABA.N has agreed to pay $2
billion in cash to buy Chinese e-commerce firm Kaola, local news
outlet Caixin reported. U.S. Representative David Cicilline urged Federal
Communications Commission Chairman Ajit Pai on Thursday to give
the public the chance to comment on a draft order that would
grant agency approval to the $26 billion merger of T-Mobile US
TMUS.O Inc and Sprint Corp S.N . Japanese hotel chain Unizo Holdings 3258.T said it
received a friendly buyout offer worth up to $1.3 billion from a
SoftBank Group 9984.T investment firm, a deal that will help
it fend off a rare hostile takeover bid from travel agency
H.I.S. Co. Australian car dealer Automotive Holdings Ltd AHG.AX
said it had decided to sell its refrigerated logistics business
following a strategic review and had informed its suitor AP
Eagers APE.AX . Buyout firms KKR KKR.N , Blackstone BX.N and CVC are
among bidders competing for a stake in the hospital unit of
Philippines' Metro Pacific Investments Corp MPI.PS , people
with knowledge of the matter told Reuters. German telecoms group Freenet FNTGn.DE fired off a
salvo of demands to cut the price and amend the terms of Sunrise
Communication's SRCG.S proposed 6.3 billion Swiss franc ($6.4
billion) takeover of Liberty Global's LBTYA.O Swiss unit UPC.

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