DealZone

DealZone Daily

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.

DealZone Daily

Australian wealth manager AMP Ltd will not seek to extend its exclusive agreement with France’s AXA SA on a joint $11.4 billion bid for AXA’s Australian unit, sources tell Reuters, opening the door for rival bidder National Australia Bank Ltd to start talks with AXA SA.

Shares in Thailand’s Thanachart Capital jump ahead of the announcement of the winning bid for a stake in Siam City Bank (SCIB), for which its Thanachart Bank is the frontrunner. Kaohoon newspaper reports that Thanachart Bank, also 49 percent owned by Canada’s Bank of Nova Scotia, has put in the highest bid of around $958 million for the 47 percent stake, beating HSBC.

In other M&A and corporate finance news reported by Reuters and other media on Wednesday: