Deals of the day-Mergers and acquisitions

Mon Feb 3, 2014 4:02pm EST

Feb 3 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** Nestle is exploring a possible sale of frozen foods business Davigel for about 300 million euros ($400 million), three sources familiar with the matter told Reuters on Monday, as part of a drive to trim its sprawling portfolio.

** Private equity group 3i is preparing to sell German car parts maker Hilite International in a deal that could be worth more than 400 million euros ($541 million), two people familiar with the transaction said.

** Spain is preparing to start selling down its stake in Bankia SA, the bailed-out lender said on Monday, marking another milestone in the recovery from financial crisis of both the bank and its home country.

** Jos. A. Bank Clothiers Inc rejected on Sunday yet another offer by rival Men's Wearhouse Inc, the latest in a prolonged acquisition battle between the two U.S.-based men's clothing retailers.

Jos. A. Bank is also in talks to buy retailer Eddie Bauer Inc from private equity owner Golden Gate Capital, according to a source familiar with the talks.

** Valeant Pharmaceuticals International Inc said on Monday it had agreed to acquire privately held PreCision Dermatology Inc for $475 million in cash to strengthen its skin products business.

** Hochtief, the German builder controlled by Spanish group ACS, agreed to sell its stake in property firm Aurelis and is still looking at options for its remaining real estate business. Hochtief said a consortium led by Grove International Partners, which already owns half of Aurelis, would buy 43 percent of Aurelis.

** Germany's Commerzbank is in talks with private equity companies Apollo and Cerberus to sell a 4 billion euro ($5.39 billion) portfolio of Spanish property loans, German weekly magazine WirtschaftsWoche reported.

** Specialty packaging maker Rexam said it would sell the bulk of its healthcare business to Montagu Private Equity for $805 million in cash, seven months after it put the unit on the block to focus solely on making beverage cans.

** Britain's Smith & Nephew is to buy ArthroCare Corp for an agreed $1.7 billion in cash to strengthen its treatments for sporting injuries, an area growing faster than its main replacement hips and knees business.

** Germany's largest airline Lufthansa has called on European regulators to block plans by Abu Dhabi's state-owned Etihad Airways to invest in ailing Italian carrier Alitalia , saying it would amount to unfair competition.

** Bahrain-based investment firm Arcapita said on Monday it agreed to sell U.S.-based Varel International to Sweden's Sandvik AB for a total transaction value of $740 million.

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