April 12 - Datang Telecom Technology Co (SHA: 600198), a telecom device manufacturer, said it plans to undertake a private placement to acquire 99.36% of Leadcore Technology, a TD-SCDMA chip maker; 49% of Shanghai Uniscope Technologies, a cellphone designer and maker, and 100% of its subsidiary Qidong Uniscope Electronics. The targeted assets were evaluated to be worth ¥1.63 billion as of February 29, 2012.
April 11 - China had 404 mergers and acquisitions involving ¥120.63 billion in Q1 2012, down 50.1% and 43.9% respectively from a year earlier, according to ChinaVenture. Energy and mining was the most active industry with 65 transactions valued at ¥55.95 billion recorded during the period.
April 6 - Inner Mongolia Yuan Xing Energy Co (SHE: 000683) said it plans to pay ¥87.23 million for 51% of Inner Mongolia Yuan Xing Chemicals Co. The deal will increase its holdings to 100%.
April 5 - Zijin Mining Group Co (SHA: 601899, HKG: 2899), China's largest gold producer by output, proposed offering $0.26 per share in cash to take over Australia's Norton Gold Fields Ltd. Zijin currently controls close to 17% of Norton. The deal is pending regulatory approval from both the Chinese and Australian governments.
April 2 - Aluminum Corporation of China Ltd (NYSE: ACH, SHA: 601600, HKG: 2600), the nation's biggest aluminum producer, also known as Chalco, agreed to buy Ivanhoe Mines Ltd's (NYSE: IVN) stake in SouthGobi Resources Ltd (HKG: 1878) to gain control of Mongolian coal production, Bloomberg reported. Ivanhoe will tender its 57.6% stake in SouthGobi into Chalco's $928 million offer to buy 60% of the company at $8.51 a share, 28% more than its close in Toronto on March 30. Control of SouthGobi will give Chalco coal sales from the Ovoot Tolgoi mine in Mongolia to bolster revenue as aluminum prices decline.
$1 = ¥6.3