Sept 12 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on
** Britain embarked on its largest privatization in decades
as the government unveiled plans to sell the majority of the
near 500-year-old state-owned Royal Mail postal service. The
Department for Business said a stock market flotation would take
place in the coming weeks, giving the public a chance to buy
into the postal network.
It said the size of the sale would depend on market
conditions and analysts suggested the flotation could value
Royal Mail at between 2 billion pounds and 3 billion pounds
** Michael Dell clinched shareholders' approval on Thursday
for his $25 billion offer to buy and take Dell Inc
private, ending months of bitter conflict with the company's
largest investors and removing the uncertainty shrouding the
world's No. 3 PC maker.
** Shoppers Drug Mart Corp shareholders on Thursday
voted overwhelmingly in favor of Loblaw Co Ltd's C$12.4
billion ($12.02 billion) bid to buy Canada's largest pharmacy
** Vodafone said it has secured the 75 percent of
shares in Kabel Deutschland needed for its 7.7
billion-euro ($10 billion) offer for Germany's largest cable
company to succeed.
** Dutch telecoms company KPN is in talks with
Mexico's America Movil over the latter's 7.2
billion-euro ($9.6 billion) takeover offer, the two sides said
on Thursday, although both cautioned the outcome was unclear.
** Smithfield Foods Inc said an independent proxy
advisory firm recommended that shareholders vote for the pork
producer's $4.7 billion sale to China's Shuanghui International
Holdings Ltd, citing the high offer price.
** Private equity investor 3i Group has offered to
buy the shares in Scandlines it does not already own,
after an attempt to find a buyer for the ferry group failed
earlier this summer, it said. 3i's bid for the 50 percent stake
held by co-owner Allianz Capital Partners values
Scandlines at more than the 1.3 billion euros ($1.7 billion)
that buyout group TPG offered for the whole company, a
source familiar with the transaction said.
** Societe Generale, France's No. 2 listed bank,
is exploring the sale of its Asia private banking arm, people
familiar with the matter told Reuters, seeking to exit a market
where small managers are getting hit by rising costs and
competition. The Singapore-based division could fetch around
$600 million, they said, though the actual sale price has yet to
be determined and may exceed that figure.
** Private equity firms KKR & Co LP and Sycamore
Partners are considering a joint bid for Jones Group,
the fashion and footwear company that owns retail chains Nine
West and Jones New York, the Wall Street Journal reported,
citing people familiar with the matter.
** Saudi Telecom Co has resolved a tussle with
creditors over a $1.2 billion loan tied to its Indonesian unit,
Axis Telekom, by offering to repay about 90 percent of the loan
mainly through a sale of the arm, sources familiar with the
** Encana Corp, Canada's largest gas producer, on
Thursday signaled a potential sale of dry natural gas assets as
it focuses on more-lucrative oil and gas liquids and cutting the
number of properties it owns.
** The shareholders of Impregilo approved the
Italian builder's tie-up with its family-owned peer Salini to
create a global player in the construction sector, with the
merger to be finalized by the end of this year.
** The Japanese majority owner of Indonesian aluminum
producer PT Inalum said there was still a big gap to bridge in
talks to sell its stake to the Indonesian government, with less
than two months to go before their joint venture agreement
** Russia's Norilsk Nickel, the world's biggest
nickel producer, said it plans to slim down and focus on its top
assets, joining other big mining companies in shedding
businesses in the face of weak metals prices. Under its new
strategy announced on Thursday, Norilsk stuck to its plan to
sell off assets in Africa and Australia, despite the failure to
close any deals in recent months.
** Umpqua Holdings Corp has agreed to buy private
equity-backed Sterling Financial Corp in a $2 billion
cash-and-stock deal, the companies said on Wednesday.
** U.S. oil and gas producer Linn Energy LLC said
it would buy oil and natural gas assets in the Permian Basin,
extending across West Texas and southeast New Mexico, for $525
million to raise its exposure to lucrative oil.
** Halcon Resources Corp said it would sell leases in
oil and natural gas reserves for $303 million. The sales involve
three transactions that are expected to close in the fourth
quarter. Halcon did not disclose the buyers.
** Russia's state-backed private equity fund RDIF and
Deutsche Bank will pay a maximum of $241 million for
a 2.45 percent stake in telecoms operator Rostelecom,
financial daily Kommersant reported.
** Bega Cheese Ltd announced a A$319 million ($297
million) off-market takeover offer for Warrnambool Cheese and
Butter Factory Co Holdings Ltd in a move to create one
of Australia's biggest listed food companies.
** Lockheed Martin Corp on Wednesday announced the
acquisition of Scotland-based Amor Group, a privately held
information technology company, saying the deal would aid its
plans to expand internationally and into non-defense markets.
Lockheed did not disclose the terms of the acquisition, but
said it was not material to the company.
** Genband, a developer of multimedia and cloud
communications software, has acquired Fring's Internet-based
mobile communications service, which works on all major
smartphones. Genband did not disclose financial details but a
market source who asked not to be named told Reuters the price
was $50 million.
** Belgian chemicals manufacturer Tessenderlo Group
said it had sold its British PVC window and doorframe
businesses to private investment firm H2 Equity Partners,
completing the entire sale of these activities worldwide.
Tessenderlo gave no financial details about the