Dec 27 The following bids, mergers, acquisitions
and disposals were reported by 2100 GMT on Friday:
** South Africa's Foord Asset Management has increased to 15
percent its stake in Adcock Ingram Holdings Ltd, making
it the second-largest shareholder in the hotly contested
The battle for Adcock, an underperforming company with a
strong portfolio of over-the-counter medicines, hotted up in
July when Chile's CFR Pharmaceuticals offered $1.2
billion in cash and shares for it.
** The two biggest shareholders of Italy's No.1 regional
utility A2A SpA aim to quickly sell an overall stake of
up to 5.12 percent in the company, Brescia mayor Emilio Delbono
** The Boston law firm Nixon Peabody is in merger talks with
Blank Rome in Philadelphia, two sources familiar with the talks
said. The two U.S. law firms have been in discussions for at
least two months, according to a third source with direct
knowledge of the talks.
** China Investment Corp, an investment fund owned by the
Chinese government, is backing a Chinese food company that is
considering bidding for Australia's Warrnambool Cheese and
Butter Holdings Co, the Business Spectator reported on
Friday, without citing any sources or naming the company.
** Brazilian tycoon Eike Batista's troubled shipbuilder OSX
Brasil SA and oil company Oleo e Gas Participacoes
SA, have taken another step toward emerging from Latin America's
largest-ever bankruptcy with a deal to swap Oleo e Gas debt for
** Singapore conglomerate Fraser and Neave Ltd
said late on Thursday it plans to return about S$607 million
($478 million) in cash to shareholders via a capital reduction.
** Textron Inc, maker of Cessna planes, said it will
buy aircraft maker Beechcraft Corp for about $1.4 billion in
cash, in a deal that sees Textron expand its aviation business.
** Bega Cheese Ltd is in talks with
"non-Australian" investors on a possible sale of its stake in
Australia's oldest dairy firm, Warrnambool Cheese and Butter
Factory Company Holdings Ltd, a source familiar with
the situation said, adding a new twist to one of the country's
most contested takeover battles in years.
** French oil company Total SA said Qatar
Petroleum International had taken a 15 percent stake in Total
E&P Congo through a share capital increase following a framework
agreement signed in May.
** Private equity firm Brynwood Partners said it will sell
its stake in DeMet's Candy Co, the U.S. maker of Flipz chocolate
pretzels and Turtles covered nut clusters, to Turkey's Yildiz
Holdings for $221 million.
** The operator of Japan's crippled Fukushima nuclear plant
submitted a revised business plan to the government on Friday
aimed at securing steady profit with the restart of its
undamaged Kashiwazaki Kariwa nuclear plant in July.
** Chinese budget carrier Spring Airlines has gained
approval for a Japanese joint venture set to begin flying in
May. Shanghai-based Spring Airlines currently flies to the
Japanese cities of Ibaraki, Saga and Takamatsu. It holds 33
percent of the Japanese joint venture, while the remainder is
controlled by Japanese funds and other domestic interests.
** German utility RWE AG said it had agreed to
sell the heat activities of Dutch unit Essent to Dutch pension
fund service provider PGGM and Dalkia, which is owned by
France's Veolia Environnement and EDF.
** NK Rosneft OAO said on Friday it will focus on
integrating Morgan Stanley's oil trading unit it agreed
to buy last week rather than making new acquisitions.