Deals of the day -- mergers and acquisitions

Tue Aug 27, 2013 4:04pm EDT

Aug 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** China's Ministry of Commerce approved the $3.8 billion merger between Taiwanese chip designers Mediatek Inc and MStar Semiconductor Inc with conditions on worries about potential monopoly in the television chip market. The Chinese regulator said the two companies cannot collaborate in the liquid crystal display TV chip segment and MStar's subsidiary that operates the LCD TV chip business would have to remain an independent entity. Only the smartphone chip and other business related to wireless communications will be merged into Mediatek.

** BlackBerry Ltd is considering spinning off its messaging service into a separate unit, the Wall Street Journal said on Tuesday, quoting people familiar with the matter. The subsidiary would be called BBM Inc, the newspaper said.

** Generic drugmaker Akorn Inc will buy rival Hi-Tech Pharmacal Co Inc for $640 million to expand its eye drug portfolio to oral liquids and ointments.

** Banking and finance company Valartis Group said it was looking to sell or merge its Swiss private banking business in coming months as it reported a fall in net profit to almost zero in the first half of the year. Valartis, which had client assets of 7.9 billion Swiss francs ($8.6 billion) at the end of June, said its Swiss bank managed about a fifth of that total, but accounted for almost a third of its general and administrative costs.

** Britain's Lloyds Banking Group has agreed to sell a A$371 million ($335.74 million) portfolio of loan assets from its Australian unit BOS International Australia to Bain Capital's Sankaty Advisors for an undisclosed price, a Sankaty spokesman said.

** Shares of OGX Petróleo e Gas Participações SA fell as the troubled oil producer abandoned the purchase of several oil exploration licenses and a venture with Malaysia's Petroliam Nasional Bhd appeared to be in serious trouble.

** Whiting Petroleum Corp said on Tuesday it is buying nearly 40,000 acres of land in the Bakken shale formation for $260 million.

** Japan's ANA Holdings Inc said it would buy a 49 percent stake in Myanmar carrier Asian Wings Airways for $25 million as part of a strategy to expand overseas by investing in airline related businesses.

** British aircraft services company BBA Aviation confirmed talks to merge with parts of Dubai Aerospace Enterprise and said it had bought U.S. firm Maguire Aviation for $69 million.

** Hedge fund manager Bill Ackman, the biggest shareholder in J.C. Penney Co Inc, said on Monday he had sold his entire stake after his campaign to overhaul the retailer failed.

** Reliance Communications Ltd's talks with potential partners for selling a stake in a unit that includes its undersea cable assets are in progress, Chairman Anil Ambani told shareholders.

** India's Oil and Natural Gas Corp aims to sell at least a 25 percent stake in its $3.24 billion petrochemical project in western Gujarat state and is looking at foreign buyers, including Saudi Aramco, an official of the Indian company said.

** Canadian miner Fission Uranium Corp said it would consider making a hostile bid for Alpha Minerals Inc as Alpha had not engaged in "meaningful discussions" on its C$171 million ($162 million) buyout offer made last week.

** Barnes & Noble Inc's retail group head Mitchell Klipper sold about two-thirds of his shares in the beleaguered retailer in the past few days, according to a filing with the Securities and Exchange Commission. Klipper, 55, who has been the chief executive of Barnes & Noble's retail group since March 2010, sold about 400,996 shares at prices ranging from $13.99 to $14.53 per share, raising more than $5.5 million, the filing showed.

** Austrian bank BAWAG PSK said it would sell a rump 1.3 percent stake in Hungary's MKB as it winds down its exposure to central and eastern Europe to focus on core markets further west.

** The chief executive of Banco Popolare said on Tuesday the Italian bank had no interest in a possible tie-up, denying a press report that the bank had had informal contacts with domestic peer Banca Popolare di Milano about possible consolidation in the sector.