Oct 23 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Wednesday:
** American Realty Capital Properties said it would
buy Cole Real Estate Investments for about $7 billion
to create one of the largest commercial real estate investment
trusts in the United States.
** Gulf state funds could take a stake of up to 15 percent
in French utility EDF's 16-billion-pound ($26
billion)project to build two nuclear reactors at Hinkley Point
in the UK, French financial daily Les Echos reported.
** EU antitrust regulators are set to open a lengthy
investigation into Hutchison Whampoa Ltd's bid for
Telefonica's Irish unit unless Hutchison offers concessions to
sooth competition concerns, two people familiar with the matter
said on Wednesday.
** Grupo BTG Pactual SA is considering a bid for JPMorgan
Chase & Co's physical commodities unit, a source
familiar with the matter said, a move which would dovetail with
the Brazilian bank's plans to expand heavily into commodities
sales and trading. JPMorgan launched the sale of the business,
which includes its crude oil, natural gas and base metals
trading operations, last week after announcing plans to exit the
business in July.
** Temporary power provider APR Energy Plc said it
would buy General Electric Co's power rental business for
$314 million in cash and stock, making GE a strategic investor
in the company.
** Poland's largest telecoms group TPSA sold its
web arm and the country's No. 2 Internet portal WP.pl for 375
million zlotys ($124 million) to web company O2, it said.
** British set-top box maker Pace Plc said it would
buy U.S.-based network gear maker Aurora Networks Inc for $310
million in cash to diversify its products to cable customers.
** Men's Wearhouse is looking to buy dress-shoe
retailer Allen Edmonds, the Wall Street Journal reported,
quoting people familiar with the matter. Reuters reported in
July that Allen Edmonds, controlled by private equity firm
Goldner Hawn Johnson Morrison, is looking to sell itself and a
deal could value the company at $150 million to $200 million.
** South African financial firm Transaction Capital Ltd
said it would sell back its majority stake in unsecured
lender Bayport Financial Services for 1.3 billion rand ($133
million) to minority shareholder Bayport Management.
** Norway-based international telecoms group Telenor
has agreed to buy Tele2's consumer fiber and
cable business in Sweden in a $122 million deal that will make
Telenor the second-biggest broadband supplier in
** U.S. drugs distributor McKesson Corp is set to
make a full takeover offer of up to 23 euros per share for its
German peer Celesio, two people familiar with the
** Yue Xiu Group, a trading arm of China's Guangzhou city
government, is close to signing an agreement to buy Hong
Kong-listed Chong Hing Bank Ltd, a person familiar
with the matter told Reuters. The person could not confirm the
price being paid for the agreement. Chong Hing Bank has a market
value of $1.96 billion.
** Agricultural Bank of China Ltd is considering
a bid for Hong Kong-listed Wing Hang Bank Ltd, people
familiar with the matter told Reuters, as China's fourth-biggest
lender eyes its first acquisition outside its home market.
** Corning Inc said it would buy out Samsung
Display's stake in their liquid crystal display glass joint
venture in a deal that could see the Samsung Electronics Co Ltd
subsidiary take a 7.4 percent share in the Gorilla
** Malaysia's third-largest listed plantation company Kuala
Lumpur Kepong Bhd said it is in talks with Equatorial
Palm Oil PLC to take a stake or buy up all the shares
in the Africa-focused, London-listed planter. Listed palm oil
firms in Malaysia and Singapore have increasingly turned to
setting up operations in Africa, as land in top palm oil
producer Indonesia becomes scarce after years of rapid
** Poland's biggest oil refiner PKN Orlen is ready
to talk with potential buyers of its fertilizer business, PKN's
chief financial officer said. Polish daily Puls Biznesu wrote
without naming its sources that Poland's largest chemical maker
Grupa Azoty might buy the fertilizer part of PKN's
chemicals maker Anwil.
** Italian insurer Generali denied a report in the
British press that it could be interested in RSA Insurance