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Deals of the day-Mergers and acquisitions

PUBLISHED: Tue, 20 Apr 2021 15:30:02 GMT

(Adds Canadian National, Asda, DBS Group, Eni, Innospec, Suez; Updates Toshiba, William Hill)

April 20 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1530 GMT on Tuesday:

** Canadian National said on Tuesday it had offered to buy railroad operator Kansas City Southern for about $30 billion, trumping a rival bid by Canadian Pacific and sending the U.S. company’s shares up more than 20%.

** Banks including DBS Group, Mitsubishi UFJ Financial Group (MUFG), OCBC and Standard Chartered are set to bid for parts of Citigroup’s consumer business in Asia, people with direct knowledge of the matter said.

** Toshiba Corp has decided against evaluating a $20 billion buyout offer from CVC Capital Partners, saying it lacked detail, while adding it was open to “credible” offers.

** Italy’s Eni is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources.

** DBS Group has agreed to buy a 13% stake in privately owned Shenzhen Rural Commercial Bank Corp (SZRCB) for 5.29 billion yuan ($814.3 million), marking the Southeast Asian lender’s biggest acquisition in China.

** Bookmaker William Hill moved closer to being taken over by Caesars Entertainment on Tuesday, saying it had gained approval in a British court for the 2.9 billion pound ($4 billion) deal, which was opposed by minority shareholder HBK.

** Australia’s biggest supermarket chain Woolworths Group sought to take control of data analytics firm Quantium by raising its stake in the company to 75% from 47%, signaling its increasing reliance on analytics to target and retain customers.

** Britain’s Issa brothers and private equity group TDR Capital must address the competition regulator’s concerns that their purchase of the Asda supermarket chain could lead to higher fuel prices to avoid the deal being referred for an in-depth probe.

** Innospec Inc said it was no longer considering a possible offer for rival Elementis after the British company rejected a 160-pence per share takeover approach from the U.S. chemicals firm.

** Investment funds Ardian and Global Infrastructure Partners may not participate in the plan to create a new French water company after the takeover of Suez by its bigger rival Veolia,, a spokesman for the funds said.

(Compiled by Amruta Khandekar in Bengaluru)

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