(Adds Dell Inc, Mitsubishi Corp, Fiat spA, YPF and others)
May 31 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Friday:
** India's Sun Pharmaceutical Industries Ltd is in
talks to buy Sweden's Meda AB for between $5 billion
and $6 billion to boost its generics business in developed
markets, two sources with direct knowledge of the process said.
** Dell Inc called on shareholders on Friday to
approve a $24.4 billion buyout offer by founder and CEO Michael
Dell and private equity firm Silver Lake, saying the bid was
superior to other strategic options.
** Japanese trading house Mitsubishi Corp plans to
acquire Brazilian grain company Ceagro Agricola Ltda
in a deal worth about 50 billion yen ($495 million), the Nikkei
said on Friday.
** British engineering company Smiths Group said it
had received an approach for its medical division, which sources
have said could be worth more than 2 billion pounds ($3
** Indonesia-focused coal miner Bumi Plc said it
was pressing ahead with a split from its co-founding Bakrie
family as it tied up a review of unit Berau, telling investors
more than $200 million had been lost at the operations.
** Bank of China and Morgan Stanley have combined to
provide $7 billion of loans to finance Shuanghui International's
record deal to buy U.S. pork producer Smithfield Foods,
people familiar with the matter said on Friday.
** American Realty Capital Properties said it would
buy an $807 million property portfolio from GE Capital as the
U.S. real estate investment trust expands in the net-lease
sector where tenants pay most of the operating costs.
** A U.S. appeals court has revived British financier Guy
Hands' lawsuit accusing Citigroup Inc of defrauding him
into overpaying for music company EMI Group Ltd, a disastrous
purchase that reflected the risk of buying debt-laden companies
during the buyout bubble.
** Element Financial Corp said it would buy the
Canadian fleet portfolio of General Electric Co's financial arm
for C$570 million to provide financing and management
services in Canada and the United States.
** New Gold Inc agreed on Friday to acquire
gold exploration company Rainy River Resources Ltd for
about C$310 million ($301 million) in a sign of a life for the
dormant Canadian small-cap mining sector.
** HSBC Holdings said it is considering selling its
99 percent stake in PT Bank Ekonomi in Indonesia as part of its
plan to slim down and simplify its business.
** Salmon farmer Cermaq rebuffed a raised
$1.7-billion bid from rival Marine Harvest on Friday in
a takeover battle which pits Norway's government against
Harvest's biggest shareholder, the maverick shipping tycoon John
** Lloyds Banking Group has sold a portfolio of
U.S. residential mortgage-backed securities for 3.3 billion
pounds ($5 billion), boosting the British lender's capital by
1.4 billion pounds.
** CBS Corp said on Friday it acquired full
ownership of TV Guide's online and mobile apps divisions, buying
out the 50 percent share held by Lions Gate Entertainment Corp
** Italian oil and gas group Eni has raised 677.6
million euros ($885 million) from the sale of a 6.7 percent
stake in Portuguese energy company Galp Energia as
part of its strategy of selling off interests which it cannot
** Italian carmaker Fiat SpA has started talks with
banks on refinancing an existing 1.95 billion euro ($2.5
billion) loan in a first step towards merging with Chrysler,
banking sources said on Friday.
** Nationalised Austrian lender Hypo Alpe Adria
has agreed to sell its domestic banking unit to investor Sanjeev
Kanoria for 65.5 million euros ($85.5 million), it said on
** The board of Finnish engineering firm Metso
has approved a plan to spin off its pulp, paper and power
business into a new company.
** Telecom Italia will discuss a possible tie-up
with Hutchison Whampoa's Italian mobile phone unit, 3
Italia, at its next board meeting, Chief Operating Officer Marco
** French market regulator AMF said on Friday it was
requesting to fine luxury group LVMH 10 million euros,
the maximum sanction that can be proposed, in a probe into the
build-up of LVMH's initial 17 percent stake in rival Hermes
** Private equity giants Carlyle Group LP and
Blackstone Group LP as well as Indian outsourcers L&T
Infotech and Tech Mahindra Ltd are lining up bids for
Hewlett-Packard Co's $1 billion stake in India's MphasiS
Ltd, several sources involved in the process said.
** Argentina's state-controlled energy company YPF will sue
the head of Repsol over accusations that he overpaid
YPF's board of directors when the Spanish oil major held a
majority stake in YPF, the government said on Friday.
** WorldPay's private equity owners, Bain Capital LLC and
Advent International Corp, have canceled the auction of the
payment processing firm's U.S. unit, WorldPay told Reuters on
** Kazakhstan's government and the trio of founders behind
ENRC have asked the miner's independent board members
for an extension to a buyout bid deadline of June 3, seeking
more time to iron out technical details, sources with knowledge
of the matter said.
(Compiled by Vijay Vishwas and Lehar Maan in Bangalore)