Deals of the day-Mergers and acquisitions

Reuters04-08
Deals of the day-Mergers and acquisitions

April 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Wednesday:

** Spain's Telefónica <TEF.MC> said on Tuesday it will sell its Mexican businesses to a U.S.-led consortium in a deal valuing the unit at $450 million, as the telecom operator looks to exit its non-core businesses and sharpen its focuson Europe.

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** Billionaire investor Bill Ackman's Pershing Square <PSHP.L> proposed a takeover of Universal Music Group <UMG.AS> on Tuesday in a $64 billion deal, the latest twist in his nearly five-year quest for the music label giant.

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** Marsh McLennan Agency $(MMA)$ has acquired Seitz Insurance Agency, a Sidney, Montana-based provider of commercial and personal lines insurance solutions specializing in the agriculture, crop and energy industries.

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(Compiled by Rajarshi Roy and Pranav Mathur in Bengaluru)

((Rajarshi.Roy@thomsonreuters.com))

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