DEAL OF THE DAY: Barnes & Noble’s future as a takeover target is more mystery than romance. The U.S. bookstore’s founder Leonard Riggio, who owns just shy of 20 percent of the company, wants to take the struggling $485 million chain private. Even with conservative assumptions, a leveraged buyout – at least on paper – could do well. The key is to cook up a decent ending. (Compiled by Aakash Jagadeesh Babu in Bengaluru)
** Western Australia state will sell its horse-race betting business and levy a new tax on foreign bookmakers, the state treasurer said.
** Lactalis, the world’s largest dairy firm, said it had agreed to buy the chilled dairy business of Nestle in Malaysia in a deal worth about $40 million.
** Poland’s state-run fund PFR has agreed to buy back its mountain cable car operator PKL from private equity fund Mid Europa Partners for an undisclosed sum.
** Swiss specialty chemicals maker Clariant expects to raise 1 to 2 billion Swiss francs ($2.01 billion) from selling portions of its plastics and coatings business, Chief Executive Hariolf Kottmann said in an interview with the Tages-Anzeiger newspaper.
** Nelson Peltz’ Trian Fund Management LP is evaluating a takeover bid for Papa John’s International Inc, the Wall Street Journal reported, citing people familiar with the matter.
** Chinese gaming and social media firm Tencent Holdings Ltd paid $180 million for an undisclosed minority stake in Brazilian financial technology company Nu Pagamentos SA, both companies said.