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

(Adds Tiffany, AGF Funds, Waste Management and others)

May 1 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Friday.

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

** Sumitomo Mitsui Financial Group (8316.T) will buy Citigroup's (C.N) Japanese broker and key investment banking units for $5.9 billion and look to form a financial services powerhouse through an alliance with Daiwa Securities Group (8601.T).

To read more, please double click on [ID:nBNG446757]

** When Cerberus Capital Management struck a $7.4 billion deal to buy Chrysler in May 2007, it made a big, risky bet that it could succeed in turning around an American icon. [ID:nN30269267]

** Citigroup Inc (C.N) executives are using the sale of its Japanese retail brokerage Nikko Cordial to ease demands from the U.S. stress tests on banks, arguing the sale of non-core assets such as Nikko would strengthen its balance sheet, the Financial Times reported, citing people close to the matter. [ID:nBNG77686]

** General Motors Corp GM.N will talk to the Korea Development Bank (KDB) about selling a stake in GM Daewoo, if that would help the South Korean car-making unit in the long term, a top executive said. [ID:nSEO369121]

** Australia should veto China's planned $19.5 billion investment in miner Rio Tinto Ltd (RIO.AX) (RIO.L), Australia's main opposition Liberal Party said as political opposition to the deal continued to grow. [ID:nSYD152241]

** Warburg Pincus [WP.UL] is seeking a buyer for Archimedes Pharma, the British-based firm with a novel cancer pain treatment it hopes could generate sales of $500 million a year, a person familiar with the matter said. [ID:nL137515]

** Hartford Financial Services (HIG.N), the fourth biggest U.S. insurer, said on Friday it was closing most of its operations in Britain, Ireland and Germany as part of a pullback from Europe. [ID:nL129077]

** Britain's consumer watchdog is considering an offer from retailer Sports Direct (SPD.L) to sells stores in five local areas after it made a string of purchases from rival JJB Sports (JJB.L). [ID:nL1312430]

** Danish ferry shipper DFDS (DFDS.CO) said it was discussing a possible "transaction" of ferry operator Norfolkline with shipping and oil group A.P. Moller-Maersk (MAERSKb.CO).

Maersk, which aims to sell non-core activities, had said it was talking to potential interested parties about a transaction involving its subsidiary Norfolkline. [nL1556396] [ID:nDKT002488]

** Tiffany & Co (TIF.N) said it is buying bankrupt U.S. handbag maker Lambertson Truex as the high-end jeweler seeks to expand its array of leather goods. [ID:nN01313555]

** AGF Funds Inc, the retail business of AGF Management Ltd (AGFb.TO), said AGF Global Balanced High Income Fund will be terminated on or about July 6, due to a small number of unitholders, low assets and associated costs. [ID:nBNG476716]