UPDATE 1-Market Chatter-Corporate finance press digest

Mon Jul 14, 2014 2:05am EDT

(Adds items on YouTube, Direct Line, Karstadt and Mondelez)

July 14 (Reuters) - The following corporate finance-related stories were reported by media:

* Swiss chocolate maker Chocoladefabriken Lindt & Spruengli is in advanced discussions to acquire family-owned U.S. candy business Russell Stover, according to a source familiar with the matter.

* Shire Plc is seeking a higher takeover offer from U.S. drugmaker AbbVie Inc that would value the company at about 31 billion pounds ($53 billion), according to people familiar with the matter.

* U.S. generic drugmaker Mylan Inc is in advanced talks to acquire a multibillion-dollar portfolio of established products from Abbott Laboratories, people familiar with the matter said.

* Canadian private equity firm Onex Corp is in advanced discussions to buy insurance claims services provider York Risk Services Group Inc for more than $1.3 billion, people following the situation said on Friday.

* Google's YouTube has embarked on a new round of discussions with Hollywood and independent producers to fund premium content, two sources with knowledge of the talks told Reuters, a move that could bolster a three-year-old multimillion-dollar effort that has had mixed success so far.

* British insurer Direct Line is in advanced talks with several industry players to sell its operations in Germany and Italy, two sources close to the deal said.

* Austrian investor Rene Benko is not interested in taking control of German department store chain Karstadt, Focus magazine reported on Sunday, citing company sources.

* Oreo cookies maker Mondelez International Inc is separating its European cheese and grocery business into a standalone entity in a move that could lead to a sale or spinoff, Bloomberg reported, citing a source.

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