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Tuesday, June 13, 2017

GE wins U.S. antitrust approval for Baker Hughes deal

WASHINGTON (Reuters) - General Electric Co won U.S. antitrust approval to merge its oil and gas business with Baker Hughes Inc to form a new publicly traded company, the Justice Department said on Monday.

Israel's Navitas Petroleum plans Tel Aviv share sale

HERZLIYA, Israel (Reuters) - Israel's Navitas Petroleum plans to raise $130 million in bonds and then carry out an initial public offering (IPO) on the Tel Aviv Stock Exchange as it expands operations in the Gulf of Mexico and Canada.

Australian tycoons pull guarantees for Ten Network; may have silver lining

SYDNEY (Reuters) - Australia's Ten Network said two local media magnates had declined to extend their support for a $150 million debt guarantee past 2017 - a move that increases the risk of the troubled broadcaster seeking receivership.

LG Chem denies media report of $6.2 billion Volkswagen battery deal

SEOUL (Reuters) - South Korean battery maker LG Chem Ltd denied on Tuesday a media report that it has signed a 7 trillion won ($6.20 billion) deal to supply electric vehicle batteries for Volkswagen AG .

UK watchdog seeks limited Punch concessions from Heineken

BRUSSELS (Reuters) - Heineken's planned takeover of Punch Taverns pubs will face an in-depth investigation unless the Dutch brewer addresses competition concerns in 33 locations, Britain's Competition and Markets Authority (CMA) said on Tuesday.

Altice IPO pricing values U.S. business at up to $22 billion

PARIS (Reuters) - Altice USA, the cable operator that Netherlands-based Altice NV put together by acquiring Cablevision and Suddenlink Communications, will be valued at up to $22 billion after its initial public offering (IPO) on the New York Stock Exchange.

Hyundai Motor executive says no plan to buy other automakers, will beef up tech cooperation

SEOUL (Reuters) - Hyundai Motor Co Vice Chairman Chung Eui-sun said on Tuesday the South Korean firm has no plan to buy other automakers, although it will beef up cooperation with other technology firms.

British political uncertainty risks slowing M&A, dealmakers say

LONDON (Reuters) - The political shock of Prime Minister Theresa May's failure to win a majority in a national election could put the brakes on takeover activity in Britain, dealmakers told Reuters on Monday.

China's COSCO Shipping buys $228 million stake in Spain's Noatum Port

HONG KONG (Reuters) - COSCO Shipping Holdings Co Ltd said it would buy a 51 percent stake in a Spanish container terminal operator for 203.49 million euros ($227.81 million), extending its ports and terminals business networks over the Mediterranean and European areas.

Italy's Italmobiliare not looking at investment in retailer OVS

MILAN (Reuters) - Italy's Italmobiliare , the holding company of entrepreneurial family Pesenti, is not working on a transaction regarding high-street retailer OVS , a spokesman said on Tuesday.