UPDATE 3-Deals of the day -- mergers and acquisitions

Tue Feb 10, 2009 4:03pm EST
 
[-] Text [+]
 (Updates CSR Plc, adds Eni SpA, Chemtura, others ) 
    Feb 10 (Reuters) - The following bids, mergers, acquisitions 
and disposals involving European, U.S. and Asian companies were 
reported by 2100 GMT on Tuesday.  
    (For Reuters columns on deals, click on [DEALTALK/] 
 
    ** General Motors Corp  has been trying to wash its 
hands of Delphi Corp  since it spun off the troubled 
auto parts supplier a decade ago. 
       But after taking on billions of dollars of liabilities and 
charges related to Delphi since 1999, GM is now being forced to 
consider taking back some unprofitable Delphi plants at a time 
when the automaker can least afford it. 
    To read more, please double click on [nN10544816] 
 
    ** Biotechnology company Genentech  urged shareholders 
to take no action on a hostile $42 billion bid by rival Swiss 
drugmaker Roche , saying its independent directors will 
decide formally on the surprise offer within 10 days. 
[nN09527418] 
 
    ** The boards of Ticketmaster Entertainment Inc  and 
Live Nation Inc  approved an agreement to merge, The Wall 
Street Journal said. [nBNG428886] 
 
    ** The Kuwait Investment Authority (KIA) might consider 
increasing its support for Dow Chemical Co's  disputed 
takeover of Rohm and Haas Co , the Financial Times 
reported. [nLA152221] 
 
    ** Japan's Toshiba Corp <6502.T> said that it, Tokyo Electric 
Power Co <9501.T> and the Japan Bank for International 
Cooperation will together buy C$270 million ($221.9 million) 
worth of shares in Canada's Uranium One Inc . 
[nBNG392114] 
 
    ** British Bluetooth wireless chip company CSR Plc  
said it had agreed to buy U.S. Global Positioning System chip 
firm SiRF Technology  in a $136-million, all-share deal 
to boost its radio chips offering in a slowing technology market. 
[nLA113009] 
 
    ** UK insurer Novae Holdings  confirmed it has begun 
due diligence on its potential bid for Lloyd's of London non-life 
insurer Chaucer . [nLA105838] 
 
    ** Canadian auto parts giant Magna International Inc  
agreed to acquire the European operations of bankrupt U.S.-based 
rival Cadence Innovation LLC, Magna said. [nLA740106] 
 
    ** British satellite broadband operator Avanti Communications 
Group Plc  said it received an unsolicited preliminary 
offer approach for the company, but rejected it. [nBNG25810] 
 
    ** Russia's anti-trust watchdog is opposed to the idea of 
merging Norilsk Nickel  with several Russian miners into 
a large metals company part-owned by the state, an official from 
the body said. [nLA380296] 
 
    ** Diversified U.S. manufacturer Textron Inc  would 
consider selling one of its core business units, such as Bell 
helicopters, if it needed to do so to protect cash flow, its 
chief executive said. [nN10271925] 
 
    ** MTS , Russia's largest mobile phone operator, said 
it has acquired a local handset retailer Telefon.Ru for around 
$60 million. [nLA406835] 
 
    ** Tata Motors Ltd , India's leading vehicle maker, 
said its founder Tata Sons has pledged 37.2 million shares or 
8.15 percent of its total equity. [nBMA002353] 
 
    ** Shares in Turkish cement firm Lafarge Aslan Cimento 
 jumped 16.5 percent after it said its French parent 
had started talks with potential investors on strategic options 
for its Turkish units. [nLA759413] 
 
    ** Bulgaria will sell minority stakes in the country's only 
refinery, controlled by Russia's LUKOIL , and in the 
leading fertiliser producer Neochim  among others, the 
country's sell-off agency said. [nLA761391] 
   
 
    ** India's No. 2 motorcycle maker, Bajaj Auto , is 
all set to increase its stake in Austrian bike maker KTM 
 to 30 percent, the Economic Times reported, citing the 
Indian firm's managing director. [nDEL68170] 
 
    ** Business adviser Tenon Group Plc  said it had 
acquired HWSEG Ltd, specialist medical accountants and tax 
advisers, for an undisclosed sum. [nBNG429894] 
 
    ** The Belgian government is not prepared to make further 
concessions to Fortis  shareholders if they deliver a 
"no" on Wednesday to the state-led carve-up of the group, 
business daily De Tijd reports. [nLA114292] 
 
    ** Britain's JJB Sports  said it had applied to put 
its Lifestyle unit into administration, and that it had received 
a number of bids for its Fitness Clubs business and talks were 
continuing regarding its sale. [nLA150958] 
 
    ** Italian energy group Eni SpA  is prepared to let 
its gas pipeline networks be independently managed but says EU 
Competition Commissioner Neelie Kroes is insisting on the sale of 
its key TAG pipeline. [nLA440280] 
 
    ** Security software maker Certicom Corp  said it has 
received notice from VeriSign Inc  that it will not try 
to match BlackBerry maker Research In Motion's   
last takeover offer for Certicom. [nN10282612] 
 
    ** Chemical maker Chemtura Corp  said it was looking 
at selling some assets in order to pay back its debt due in July 
this year and that it plans to reduce inventories. 
[nBNG356707] 
 
    ** British outdoor goods retailer Blacks Leisure Group Plc 
 said it had received approaches concerning a possible 
offer for the group, sending its shares almost 50 percent higher. 
[nLA779320] 
 
    ** Spanish utility Gas Natural , awaiting regulatory 
approval for its bid for power firm Union Fenosa , said 
it has no interest in selling the gas business Fenosa jointly 
runs with Italy's ENI . [nLA145669] 
 
    ** Private equity firm HgCapital is disbanding its consumer 
and retail team as it looks to focus on investment opportunities 
in the healthcare and technology, media and telecoms (TMT) 
sectors, it said. [nLA599288] 
 
    ** Russian gas export monopoly Gazprom  may delay 
some projects in response to weaker demand for gas and a tougher 
financial climate but expects to decide to proceed with the giant 
Shtokman gas field early next year. [nLA696093] 
 
    ** Shares of BankUnited Financial Corp  rose more 
than 70 percent, after a media report said billionaire investor 
Wilbur Ross and the Carlyle [CYL.UL] private equity group are 
considering a joint bid for the embattled lender. [nBNG409555] 
 
    ** Binding bids for a minority stake in Dutch utility Nuon's 
7 billion euro ($9.1 billion) power production and distribution 
arm are due this week, several people familiar with the matter 
said. [nLA712041] 
 
    ** Advanced Micro Devices Inc  said that it had 
postponed a shareholder vote to approve its plan to spin off its 
manufacturing plants, after failing to obtain the requisite 
quorum. [nN10308379] 
 
    ** Talks between Mitsubishi UFJ Financial Group Inc <8306.T> 
and investment bank Morgan Stanley  to combine their 
Japanese securities units are moving forward, but the banks have 
not agreed on a structure or price, a person familiar with the 
matter said. [nN10357032] 
 
 (Compiled by Tina Kwan in Singapore; Adheesha Sarkar and Renju 
Jose in Bangalore) 
 ((tina.kwan@reuters.com; Reuters Messaging: 
tina.kwan.reuters.com@reuters.net +65 6870 3924)) 
Keywords: MERGERS/DEALS  
    
 
(C) Reuters 2009.  All rights reserved.  Republication or redistribution of
Reuters content, including by caching, framing or similar means, is expressly
prohibited without the prior written consent of Reuters. Reuters and the Reuters
sphere logo are registered trademarks and trademarks of the Reuters group of
companies around the world.



nSP414244
DEALS/

 

Featured Broker sponsored link