Deals of the day -- mergers and acquisitions
Oct 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Wednesday:
** EADS and BAE Systems Plc called off the world's largest defence and aviation merger on Wednesday, and pinned the blame on Germany for wrecking the $45 billion deal.
** McGraw-Hill Companies Inc's education unit is expected to draw final bids from private equity firms Bain Capital and Apollo Global Management as well as rival Cengage Learning Inc, in a deal that could fetch around $3 billion, several people familiar with the matter said.
** Dutch bank Rabobank is weighing three offers for its asset management arm Robeco as it has to choose between bids to split the 2 billion euro ($2.6 billion) plus business or keep it whole, people familiar with the situation said.
** Danaher Corp and Cooper Industries agreed to sell their hand and power tools joint venture, Apex Tool Group, to Bain Capital for about $1.6 billion, joining the growing trend among U.S. conglomerates to shed non-core assets.
** Pan-Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance unit and is expected to pay $1.5 billion to $1.7 billion, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets.
** Singapore conglomerate Fraser and Neave Ltd (F&N) , the takeover target of a Thai tycoon, said it had rebuffed a S$1.4 billion ($1.14 billion) bid for its hospitality and serviced residence business.
** Italy's drink group Campari is considering issuing a bond for up to 500 million euros ($645 million) to fund the acquisition of Jamaican rum maker Lascelles deMercado & Co.
** Russian president Vladimir Putin backs BP's plan to sell its 50 percent stake in TNK-BP to the state oil group Rosneft, the Financial Times reported on Wednesday, citing an interview with Rosneft's chief executive, Igor Sechin.
** A group of black South African shareholders has sold a stake in Absa Group Ltd, the country's biggest retail bank, worth about $370 million, exiting one of the post-apartheid era's high profile "black empowerment" deals.
** Swiss retailer Dufry is to buy the duty-free operations of Greek rival Folli Follie for 200.5 million-euro ($258.6 million), a rare vote of confidence in an economy deserted by other foreign companies concerned over its future in the euro.
** The chief executive of Austrian construction group Porr will make a full takeover offer for the company after increasing his stake to 44 percent through the acquisition of shares from a UniCredit Bank Austria foundation.
** U.S. tax preparer H&R Block Inc said it is exploring strategic alternatives for H&R Block Bank, which could result in the company no longer being regulated by the Federal Reserve as a savings and loan holding company.
** Poland would prefer selling a stake in its top lender PKO BP only to financial institutions, rather than through a secondary public offering directed at the whole market, a government official was quoted as saying on Wednesday.
** Denim maker True Religion Apparel Inc said it was evaluating strategic alternatives which could include a possible sale of the company, after receiving indications of interest from third parties.
** New York-based hedge fund York Capital Management has been buying up bonds in debt-ridden Israeli conglomerate IDB Development and could lead a hostile takeover of the company, TheMarker financial newspaper reported on Wednesday.
- 'Weird Al' Yankovic still trying to wrap head around No. 1 album
- World's oldest joke traced back to 1900 BC
- French warplanes search Mali desert for crashed Air Algerie plane |
- Crunch time for Gaza truce talks as death toll passes 800 |
- Wreckage of Air Algerie plane carrying 116 people found in Mali |