Deals of the day-Mergers and acquisitions
Adds: Tapestry, General Mills Updates: Ovintiv
Nov 14 (Reuters) -The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Thursday:
** Tapestry TPR.N is terminating its $8.5 billion deal to buy Michael Kors owner Capri CPRI.N following a legal hurdle, the companies said, ending their effort to create a U.S. luxury giant to compete with major European players.
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** General Mills GIS.N said it would buy Whitebridge Pet Brands' North American premium cat feeding and pet treating business in a transaction valued at $1.45 billion to broaden its portfolio and strengthen its pet food business.
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** Shale producer Ovintiv OVV.N announced a $2.38-billion all-cash acquisition of oil assets from Paramount Resources POU.TO, expanding its presence in Canada's Montney shale play.
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** Blackstone has dropped plans to acquire a majority stake in the snacks business of India's Haldiram's but is now discussing purchase of a 20% stake at a valuation of $8 billion, which is still a sticking point, sources told Reuters. nL4N3ML0QW
** China's Geely said its premium electric vehicle maker Zeekr ZK.N plans to take control of Lynk & Co, a sister brand - the first big restructuring move in a planned overhaul for the sprawling automotive group. nL1N3ML0B1
** Delfin, the holding of Italy's Del Vecchio family, bought a 3.5% stake in bailed-out bank Monte dei Paschi BMPS.MI, a source with knowledge of the matter said. nS8N3LR0MO
(Compiled by Rajarshi Roy and Rishi Kant in Bengaluru)
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