Market Chatter-Corporate finance press digest

Wed May 15, 2013 12:10am EDT

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May 15 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:

* Actavis Inc received and rejected a takeover offer from Mylan Inc last week that valued the generic drugmaker at more than $15 billion, a person familiar with the situation told Reuters on Tuesday.

* State-owned China Galaxy Securities Co Ltd priced its initial public offering at the lower end of the indicative price range, raising $1.1 billion, a source with direct knowledge of the matter said on Wednesday.

* State-rescued German bank Hypo Real Estate Holding AG is preparing to sell its public finance specialist Depfa, with Citigroup Inc appointed to organise the sale, two people familiar with the situation said on Tuesday.

* The parent of Dongfeng Motor Group Co, China's second-largest automaker, will take an over-40 percent stake in Fujian Motor Industry Group, a local newspaper said on Wednesday, the latest consolidation in the country's fragmented auto market.

* Shares in German lender Commerzbank AG, which are currently held by Germany's bank rescue fund Soffin, are being placed at a price range between 6.60-7.00 euros ($8.57-$9.08) a piece, two people familiar with the transaction said on Tuesday.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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