UPDATE 2-Deals of the day -- mergers and acquisitions

(Adds IPC, Veolia and others, updates Rio Tinto)

July 6 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1330 GMT on Monday.

(For Reuters columns on deals, click on [DEALTALK/])

** Validus Holdings Ltd (VR.N) called its unsolicited bid to acquire reinsurance rival IPC Holdings Ltd (IPCR.O) its "best and final offer," despite a competing bid from Flagstone Reinsurance Holdings Ltd (FSR.N).

To read more, please double click on [ID:nN06247290]

** A U.S. judge on Sunday approved General Motors Corp's GMGMQ.PK bankruptcy sale in a move that will allow the company's most profitable assets to exit bankruptcy protection under government ownership. [ID:nN06331880]

** Porsche (PSHG_p.DE) denied a newspaper report which said five more potential bidders have emerged for a Porsche-owned derivatives package which controls around 20 percent of Volkswagen (VOWG.DE) voting shares. [ID:nL6596927]

** Renewable energy company Covanta Holding Corp (CVA.N) said it will acquire most of the North American energy-from-waste facilities of Veolia Environmental Services North America Corp in a cash deal worth $450 million. [ID:nBNG229968]

** Canadian pet food retailer Pet Valu (PVC.TO) said it agreed to be bought by a U.S. private equity group in a deal worth about C$143.7 million ($123.3 million). [ID:nN06249627]

** Italy's biggest insurer, Assicurazioni Generali SpA (GASI.MI), is buying 30 percent of asset management company Guotai AMC for 100 million euros ($140 million) to move into China's fledgling pensions market. [ID:nL6288436]

** Al-Rajhi Steel, one of Saudi Arabia's three largest steel makers, is in talks to buy a stake in a local family owned steel firm, which bankers said, is rival Al-Ittefaq Steel Products Co. [ID:nL6114780]

** The board of Anglo American (AAL.L) would surely consider a merger proposal from Xstrata (XTA.L) at a price that recognised Anglo's top-tier assets, major Anglo shareholder Old Mutual said. [ID:nL680889]

** Two Chinese entities are set to invest around $800 million for 20 percent of China Mengniu Dairy (2319.HK), a source familiar with the matter said, the latest cash infusion for an industry recovering from a tainted milk scandal. [ID:nHKG329555]

** China Mengniu Dairy (2319.HK) said that it will raise HK$3.058 billion ($394.6 million) from a share sale to China National Oils, Foodstuffs and Cereals Corp (COFCO) and Hopu Investment Management.[ID:nHKG352884]

** German phone group freenet AG FNTG.DE has asked interested parties to make offers for its webhosting business Strato, the company said. [ID:nL6193467]

** India's Oil and Natural Gas Corporation (ONGC.BO) and Russian companies are among those interested in buying a stake in Repsol's (REP.MC) Argentine unit YPF, a Spanish business newspaper reported. [ID:nL682909]