Deals of the day-Mergers and acquisitions

Sept 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

German automotive and industrial supplier Norma will sell its lucrative water management business to U.S. rival Advanced Drainage Systems in a deal valued at $1 billion, the companies said on Tuesday. nL3N3VA0AU

Some investors in PepsiCo PEP.O support suggestions by activist shareholder Elliott that the global food and beverage company cut costs and ditch sleepy brands like Quaker, but sound more cautious about the hedge fund's boldest idea - to hive off the soda maker's bottling network. nL6N3V30UX

Italy's government has given a conditional green light to the merger between energy contractor Saipem SPMI.MI and its Norwegian rival Subsea7 SUBC.OL, financial newspaper MF reported on Tuesday. nL5N3VA051

Azerbaijan's state oil company SOCAR agreed on Tuesday to acquire Italiana Petroli, in a deal that will hand the group control of one of Italy's largest petrol station networks, a Reuters witness reported from the signing ceremony. nS8N3UI02P

Dutch brewer Heineken will buy the beverage and retail businesses of Costa Rica's Florida Ice and Farm Company for $3.2 billion in cash, it said late on Monday, boosting its presence across Central America. nL3N3V91FO

European lottery giant Allwyn said on Monday it will acquire a majority stake in U.S. fantasy sports operator PrizePicks in a deal that values the Atlanta-based company at $1.6 billion. nL2N3V90GX

President Donald Trump this week will declare that a deal to divest TikTok's U.S. operations from its Chinese owner ByteDance will meet requirements set out in a 2024 law, a White House official said on Monday, adding that investors will include Oracle ORCL.N and private equity firm Silver Lake. nL2N3V90J7