Deals of the day -- mergers and acquisitions

Mon Jul 15, 2013 9:31am EDT

July 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday:

** Loblaw Cos Ltd, Canada's largest food retailer, will buy Shoppers Drug Mart Corp for C$12.4 billion ($11.9 billion), as it faces increasing competition from Target Corp and Wal-Mart Stores Inc.

** General Electric Co is gearing up for a 3.5 billion pound ($5.3 billion) counterbid for British engineer Invensys that would trump last week's offer from France's Schneider Electric SA, a newspaper said on Sunday.

** AT&T Inc will buy Leap Wireless International Inc for $1.19 billion, paying almost double the current value of the prepaid mobile service provider as major U.S. carriers scramble to acquire valuable wireless spectrum.

** MB Financial Inc said it would buy Taylor Capital Group Inc for about $680 million in a cash and stock deal that is expected to double the company's commercial banking market share in the Chicago area.

** Greece's bank rescue fund picked Eurobank to buy New Hellenic Postbank as part of consolidation in the sector and to meet a condition for the next tranche of Greece's bailout, it said after a board meeting on Saturday.

** Liechtenstein's VP Bank is buying Germany's HSBC Trinkaus & Burkhardt SA's private bank and the fund business related to it for an undisclosed price, a further sign of industry consolidation as banking secrecy comes under fire.

** Czech coal miner New World Resources Plc is considering the closure of its Paskov hard coal mine after being unable to find a buyer as part of efforts to raise cash to compensate for record losses.

** German Finance Minister Wolfgang Schaeuble has spoken to the chairman of UBS AG about the possibility of the Swiss bank buying the government's remaining stake in Commerzbank AG, a magazine reported on Saturday.

** Austria's Raiffeisen Bank International is launching a "massive" cost-cutting effort that will reduce its spending by triple-digits of millions of euros, partly by closing branches, its new chief executive was on Saturday quoted as saying.

** France breathed a sigh of relief at the weekend after Anglo-Australian mining giant Rio Tinto Ltd said it had received a binding offer for its French aluminum plant, in a deal that - if approved - would save more than 500 jobs.

** Oman's Renaissance Services SAOG has sold its oilfield maintenance services unit Topaz Oil and Gas, based in the United Arab Emirates, to Interserve Plc for $46 million, a bourse filing said on Sunday.

** JPMorgan Chase & Co is following a move by rival Goldman Sachs Group Inc to explore sales of its metal warehouse business, the Financial Times said on Sunday.

Citing people familiar with the matter, the newspaper said on its website on Sunday that both U.S. banks have in recent months informally started to seek potential buying interest for their warehouse units.

** French drugmaker Ipsen SA said it bought UK-based private life sciences company Syntaxin Ltd to strengthen its neurology research and development business.

Ipsen will initially pay 28 million euros ($37 million) for the company, followed by further payments of up to 130 million euros based on reaching development and commercial targets, it said.

** Nordics-focused private equity group Altor's Fund III said it had entered into an exclusive process to buy a majority stake in Rossignol Group, the world's second biggest ski equipment maker.

Rossignol had sales of close to 210 million euros ($274.12 million) last year and employs roughly 1,200 people with headquarters in Moirans, France, Altor said.

** Iron-ore trader Prosperity Minerals Holdings Ltd said it received an initial approach from its biggest shareholder, Prosperity International Holdings (H.K.) Ltd that could lead to an offer of no higher than 130 pence per share.

** Grupo Oi SA, the owner of Brazil's fourth-largest wireless carrier, agreed to sell its underwater fiber optic cable units to a fund led by investment banking firm Grupo BTG Pactual SA for 1.75 billion reais ($772 million.)

** Abbott Inc said it would jump into the laser cataract surgery business by paying up to $400 million to acquire privately held OptiMedica Corp and its Catalys precision laser system.

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

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