Deals of the day-Mergers and acquisitions

(Adds Alexion)

May 12 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1300 GMT on Tuesday:

** Activist investor Elliott Management on Tuesday revived its call for a sale of Alexion Pharmaceuticals Inc, months after the company rejected the hedge fund’s earlier demand.

** Alstom plans to stick to the terms of its previously-agreed rail deal with Bombardier, Chairman and Chief Executive Henri Poupart-Lafarge said in a conference call.

** Czech utility CEZ is still aiming for closing a transaction for the disposal of assets in Romania by the end of this year as part of its divestment plans, Chief Financial Officer Martin Novak said.

** South Africa’s heavily indebted sugar producer Tongaat Hulett is in a deadlock over the sale of its starch business to Barloworld over a condition set during the signing of deal, the two companies said.

** Saudi Aramco said its planned acquisition of a 70% equity stake in petrochemical maker SABIC from the Public Investment Fund (PIF), the kingdom’s wealth fund, is on track to close in the second quarter.

** Virgin Australia Holdings Ltd’s administrator said 19 parties interested in purchasing the airline had been granted access to a data room as of May 11 and non-binding indicative offers are due on May 15, according to an affidavit.

** Global investment manager First State Investments will buy New Zealand’s Ultrafast Fibre Ltd for NZ$854 million ($518.63 million) from WEL Networks Ltd and Waipa Networks Ltd, the electricity distributors said. (Compiled by Trisha Roy in Bengaluru)

Source: Read Full Article