Deals of the day -- mergers and acquisitions

Wed Jul 24, 2013 9:46am EDT

July 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:

** Buyout firms have a record level of expiring funds this year, raising the prospect that many will have to ask investors for more time to do deals or not use the money at all. Advisory firm Triago says that $145 billion of so-called dry powder - money pledged by investors, typically for set periods of time - is due to be spent in 2013. Triago estimates that 10 percent of the $145 billion will remain uninvested.

** Dell Inc founder Michael Dell pushed for easier voting rules to help him win his battle to take the PC maker private and offered a token 10 cents more per share to sweeten his $24 billion bid.

** KKR & Co LP on Tuesday secured the cheapest borrowing rates it ever got to fund a leveraged buyout, which could cut hundreds of millions of dollars from interest it will pay to finance its $3.9 billion takeover of Gardner Denver Inc , banking sources said.

** Israeli holding company IDB Development Corp is in advanced talks to sell a 30 percent stake in Clal Insurance to a group of investors based in China at a company valuation of 4.6 billion shekels ($1.3 billion).

** Davis + Henderson Corp, a Canadian financial services provider, said on Tuesday it has agreed to acquire U.S. rival Harland Financial Solutions for about $1.2 billion in cash from Harland Clarke Holdings Corp.

** South Africa's Aspen Pharmacare Holdings valued its bid for two of GlaxoSmithKline Plc's thrombosis drugs and a French factory at around 700 million pounds ($1.08 billion), 100 million pounds ($153.7 million) of which will be for inventory.

** UK Asset Resolution, Britain's state-run "bad bank," has agreed to sell a portfolio of former Northern Rock loans to U.S. private equity firm J.C. Flowers and debt recovery business Marlin Financial for a combined 400 million pounds ($615 million).

** Hanesbrands Inc, whose labels include the Wonderbra, said it would buy lingerie company Maidenform Brands Inc for $547 million to boost its product line-up.

** Nationalized Franco-Belgian banking group Dexia has set GCS Capital a deadline of next Tuesday to conclude its planned 380-million-euro ($502 million) purchase of Dexia Asset Management, after which the sale will be canceled.

** Italy's Recordati said it has agreed to buy 90 percent of Tunisia's eighth-largest pharmaceutical company, Opalia Pharma SA, for an enterprise value of about 37 million euros ($49 million).

** Sumitomo Mitsui Banking Corp said it has agreed to buy Societe Generale's private banking business in Japan for an undisclosed sum.

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