May 2 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Thursday:
** New York-based private equity firm Lightyear Capital has
emerged as the lead bidder to buy SunTrust Banks Inc's
RidgeWorth Investments asset management unit, three sources
familiar with the situation told Reuters this week. Lightyear is
likely to pay between $250 million to $300 million for
RidgeWorth, one of the sources said.
** Ireland's "bad bank" has sold its first portfolio of
Irish commercial property loans to a consortium led by private
real estate investor Starwood Capital Group.
** Thailand's largest entertainment group, GMM Grammy Pcl
, has sold all of its stake in newspaper publisher
Matichon Pcl in big-lot transactions with an estimated
value of 470 million baht ($16 million), sources said on
** Royalty Pharma submitted its $11.25 per share
bid for Elan to the Irish drugmaker's
shareholders, standing by its reduced price in the face of the
target's insistence it is worth more.
** The private equity arm of OMERS, one of Canada's largest
pension plans, has hired Barclays Plc and Harris
Williams & Co to explore a sale of United States Infrastructure
Corporation, three people familiar with the matter said this
** JP Morgan and Greenhill & Co Inc have
been appointed to advise GlaxoSmithKline on the sale of
its soft drinks brands Lucozade and Ribena, which analysts
believe will fetch more than 1 billion pounds ($1.6 billion).
** Italian insurer Unipol has received 10-15
expressions of interest for 1.7 billion euros ($2.24 billion) in
assets it must sell as part of a merger with peer Fondiaria-SAI
, the company's CEO said on Thursday.
** Archer Daniels Midland Co defended its plan to
buy Australia's GrainCorp Ltd for A$3.0 billion ($3.1
billion), promising the grain handler was a good fit to help
feed growing markets in Asia and the Middle East. ADM, one of
the world's top grain traders, said on Wednesday it has
completed a due diligence review of GrainCorp's books and
intends to move forward with a cash offer to acquire the
** France Telecom on Thursday castigated the
government, its largest shareholder, for derailing its plan to
sell a majority stake in video-sharing website Dailymotion,
reigniting debate about state interference in the French
economy. U.S.-based web portal Yahoo had been in talks
to acquire a 75 percent stake in Dailymotion.
** Turkey's CarrefourSA, a joint-venture between
Sabanci Holding and Carrefour, will look
into buyout opportunities including Migros, Sabanci
retail group head Haluk Dincer said on Thursday.
** Merchant bank Kirchner Group and Crestline Investors Inc,
a hedge fund secondary buyer with $7.3 billion under management,
have teamed up to launch a joint venture aimed at taking over
management of so-called zombie funds from their original private
** Marine Harvest, the world's biggest fish farmer,
took its $1.7 billion hostile bid for state-controlled rival
Cermaq directly to Norway's trade minister on Thursday
after the firm's board rejected its initial bid.
** Private equity firm Sun Capital Partners plans to merge
five of its plastic packaging portfolio companies to form what
it says will be the sixth-largest plastic packaging company in
** The Portuguese government on Thursday gave the go-ahead
to the privatization of the insurance arm of state-owned bank
Caixa Geral de Depositos, expecting to complete the process
before the end of the year.
** UniCredit has sold its Kazakh unit ATF Bank
for around $500 million, a source close to the deal
said, as it seeks to restore profitability after being hit hard
by the euro zone debt crisis.
** After years of on-off talks, months of brinksmanship and
often bitter negotiations, Glencore's head Ivan
Glasenberg gets to complete the $30 billion acquisition of
Xstrata on Thursday, the mining industry's biggest takeover yet.
** Italy's Lottomatica said it would invest in
Greek betting company OPAP by taking a minority stake
in the investment fund which bought the 33 percent Athens sold
as part of an international bailout.
** Debt-laden SolarWorld is close to securing
financial backing from a Qatari investor, its chief executive
said on Thursday, the second major move in a week in its efforts
to get back on its feet.
** Montana-based brokerage D.A. Davidson & Co plans to
acquire smaller Los Angeles-based rival Crowell, Weedon & Co in
a deal that would create one of the largest regional brokerage
firms on the West Coast, with $43.5 billion in client assets
** Murphy Oil Corp has changed it mind and will not
sell its 5 percent stake in Alberta's Syncrude oil sands project
and its shale-gas properties in Western Canada, the company said