April 2 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Tuesday:
** Glencore said it had extended again the date by
which it expects to close its merger with Xstrata to May
2, due to the ongoing investigation into the deal in China.
Glencore has been waiting for several months for China, the
biggest buyer of the materials it trades and mines, to give the
go-ahead before it can complete its $35 billion acquisition of
miner Xstrata, the largest deal in the sector to date.
** Japanese trading house Marubeni Corp has again
been forced to delay the closure of its $5.6 billion purchase of
U.S. grain merchant Gavilon because Chinese regulators have not
finished their appraisal of the transaction.
** Nordic telecom operator Tele2 defended a
decision to sell its Russian unit for $3.5 billion and spurn a
higher offer from one of Russia's wealthiest businessmen.
The deal with state-controlled bank VTB was
followed swiftly by counterbids from groups associated with
tycoon Mikhail Fridman, but Tele2 said the deal was already
done, prompting speculation that the Kremlin may have dictated
** At least three of the world's top drugmakers are bidding
for Brazil's Ache Laboratorios Farmaceuticos in an auction that
may value the group at more than $5 billion, people familiar
with the matter said.
Pfizer Inc, Novartis AG and Abbott
Laboratories are all weighing second-round bids to
acquire the company, which boasts a strong position in Brazil's
fast-growing pharmaceuticals market, the people said.
** Columbus, Ohio-based Nationwide Financial and New
York-based Reich & Tang are buying UnionBanCal Corp's mutual
fund business, three sources told Reuters on Tuesday.
** Thermo Fisher Scientific Inc is emerging as the
lead contender in Life Technologies Corp's auction,
working on a bid that could value the genetic testing maker at
as much as $12 billion, three people familiar with the matter
** Nordic telecom operator TeliaSonera said it
was abandoning efforts to sell Yoigo after failing to find a
buyer willing to pay an acceptable price for the Spanish
TeliaSonera began a process to sell its 76.6 percent stake
in Yoigo last year, hoping it could fetch about 1 billion euros
($1.28 billion), sources told Reuters at the time.
** Nigeria has offered to sell a 70 percent stake in a power
station to South Korean firm Korea Electric Power Corp (KEPCO)
for $407 million, the privatisation agency said on
Tuesday, in an effort to end six years of delay on the deal.
** Nasdaq OMX Group Inc agreed to buy the eSpeed
platform from BGC Partners Inc for $750 million in cash
on Monday, providing the exchange operator an entry point in the
electronic fixed income business - one of the largest and the
most liquid cash markets in the world.
** Taiwan's SinoPac Financial Holdings Co Ltd will
sell 20 percent of its banking unit to Industrial and Commercial
Bank of China Ltd (ICBC) for around T$20 billion
($669.42 million), the Taiwanese bank said.
** Troubled Australian surfwear firm Billabong International
Ltd said it is still in talks with two takeover suitors
and requested a trading halt in its shares ahead of a possible
announcement this week.
Billabong has received offers from a consortium comprising
private equity firm Altamont Capital Partners and U.S. clothing
group VF Corp and another group led by Billabong's
former U.S. boss Paul Naude and private equity firm Sycamore
The competing groups had made indicative matching offers of
A$1.10 a share, valuing the company at A$527 million ($549
** Neurological and dermatology drugs maker Merz Pharma
Group offered to buy cosmetic products maker Obagi Medical
Products Inc for $383.5 million, topping a bid by
Canada's Valeant Pharmaceuticals International Inc
** India's Reliance Jio Infocomm Ltd, a unit of Mukesh
Ambani-controlled Reliance Industries, signed a deal
worth 12 billion rupees ($221 million) to share Reliance
Communications Ltd's fiber optic network to roll out
its 4G services.
Reliance Communications is controlled by the younger Ambani
** Mining mogul Nathan Tinkler is selling Australia's
largest thoroughbred racing and stud empire as he struggles to
pay off debts and raise funds for court battles.
The young entrepreneur is asking around A$200 million ($208
million) for Patinack Farm and potential buyers include Chinese
parties, according to a source close to the sale, who was not
authorized to speak publicly.
** Russia's largest steelmaker Evraz said it had
acquired a controlling stake in an iron ore project in Russia's
far-Eastern Yakutia region for 4.95 billion roubles ($160
** French media group Lagardere said it had agreed
to sell its 25 percent stake in sporting events group Amaury for
91.4 million euros ($117.4 million).
** Danish hearing aid maker William Demant said it
plans to buy Neurelec, a French maker of hearing aid implants,
for 57.5 million euros ($73.9 million).
** Russian oil-to-telecoms conglomerate Sistema
said its stake in Binnopharm decreased to 74 percent
as the unit merged assets with infusion solutions and blood
substitutes maker Alium.
Sistema, which previously held 100 percent of Binnopharm,
said the deal was structured as an additional share issue worth
around 1.7 billion roubles ($54.63 million).
** Italy's fourth-largest lender Banco Popolare
agreed to sell its small Hungarian unit to local player MagNet
Bank for 0.5 million euros ($642,400).