U.S. industrial gas supplier Air Products and Chemicals Inc launches a hostile bid to buy rival Airgas Inc for about $60 per
share in cash, in a deal valued at about $7 billion including assumed debt.
Deutsche Telekom is considering an initial public offering or spinoff of its U.S. wireless service T-Mobile USA, the Wall Street Journal reports, citing people familiar with the matter. T-Mobile USA could have an equity value of around $20 billion, the Journal says.
There’s plenty of other M&A and corporate finance news reported by Reuters and other media on Friday. Highlights include:
Mongolia’s government cancels the auction of an estimated $2 billion stake in one of the world’s largest untapped coal deposits, ending the hopes of global mining giants eager for a slice of the project, sources tell Reuters.
Thanachart Bank, 49 percent owned by Canada’s Scotiabank, has offered $984 million to buy 48 percent of Thailand’s seventh-ranked lender, sources tell Reuters, muscling ahead of an offer by HSBC.
U.S. private equity firm Blackstone and buyout firm Resolution have joined National Australia Bank in a possible bid for more than 300 branches of Royal Bank of Scotland, the Financial Times says.
Private equity firm Cinven is teaming up with retail executive Rob Templeman to consider a $794 million bid for UK furniture retailer DFS, the Daily Telegraph reports.
Abu Dhabi’s sovereign wealth fund is to buy a 15 percent stake in London’s Gatwick Airport for $200 million as
the airport’s new owner aims to bring in additional investors, the Times newspaper reports.