June 12 The following bids, mergers,
acquisitions and disposals involving European, U.S. and Asian
companies were reported by 2000 GMT on Tuesday:
** BNP Paribas, France's biggest listed bank, is
planning to sell its retail banking operations in Egypt as the
lender seeks to shore up its capital base and exit non-core
operations, two banking sources said. BNP, with around 70
branches in the North African country, may raise as much as $400
million if the sale goes through, one of the sources said,
speaking on condition of anonymity.
** U.S. bank JPMorgan Chase said it remained
committed to investing in Technicolor after the French
set-top box maker rejected a 179 million-euro ($222.98 million)
offer from JPMorgan on the grounds that it imposed unacceptable
** Billionaire James Packer would be open to an alliance
with Singapore casino operator Genting to further his
ambitions in Australia, where he is trying to wrest control of
rival Echo Entertainment, a source said on
** GlaxoSmithKline is to buy Basilea's new
eczema drug Toctino for an initial 146 million pounds ($227
million) to boost its Stiefel dermatology business, the two
companies said on Tuesday.
** Chipmaker Cypress Semiconductor Corp offered to buy
smaller rival Ramtron International Corp for about $87.6
million, reviving a previously undisclosed bid it made last year
but making little change to the overall price.
** Britain's third largest supermarket group J Sainsbury
has entered the e-book and social network market with
the purchase of HMV Group's shareholding in Anobii for a
nominal 1 pound ($1.55).