Deals of the day -- mergers and acquisitions

May 2 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Wednesday:

** E.ON expects to finalize the sale of its gas distribution network in May, its chief financial officer told a German paper, adding the German utility's asset sale programme could exceed the targeted volume of 15 billion euros ($20 billion).

** Temasek Holdings is selling about $2.4 billion worth of stakes in two of China's largest banks, as the Singapore state investor reshuffles its financial sector portfolio.

** Women's apparel maker Ascena Retail Group Inc will buy Charming Shoppes Inc for $857.2 million in cash as it looks to tap into the growing U.S. plus-size apparel market.

** Microchip Technology Inc will acquire smaller rival Standard Microsystems Corp for about $830 million, gaining access to the lucrative market for electronics used in automobile entertainment systems.

** Malaysian Airline System Bhd and budget carrier AirAsia Bhd have called off a proposed $364 million share swap deal, according to a statement filed to Bursa Malaysia on Wednesday.

** Kewill Plc said it had agreed to be taken private by tech-focused private equity firm Francisco Partners Funds in a deal that values the British software company at 89.5 million pounds ($145.2 million).

** SK Telecom Co, South Korea's top mobile carrier, is not expecting to fund the potential acquisition by its affiliate SK hynix of Japan's troubled Elpida Memory, SK Telecom's chief financial officer said on Wednesday.

** Russia's competition watchdog said on Wednesday its bid to overturn Telenor's recent increase of its stake in mobile operator Vimpelcom was supported by the government's powerful commission on foreign investment.