(Adds Dow Chemical, Comcast, Unipol, Acsm Agam, Fiat, Darden
Jan 21 The following bids, mergers, acquisitions
and disposals were reported by 2100 GMT on Tuesday:
** Activist investor and hedge fund manager Daniel Loeb took
a stake in Dow Chemical Co and wants the company to spin
off its petrochemical arm, according to a letter to investors
seen by Reuters.
** British engineering company Rolls-Royce Holdings Plc
is expected to make a public offer for Finnish ship and
power plant engine maker Wartsila Oyj Pbp, a
newspaper reported, citing unnamed investors.
** UniCredit SpA has sold some of the risk on a
910 million euro ($1.23 billion) portfolio of Italian project
finance loans, freeing up capital for new lending and benefiting
from the growing appetite for such deals from specialist
** Activist investor Daniel Loeb has taken a major stake in
Dow Chemical Co, urging the largest U.S. chemical maker
by revenue to spin off its lucrative but slow-growing
petrochemical unit and focus on specialty materials.
** Comcast Corp has added Barclays Plc
as an adviser as it evaluates a potential deal for Time Warner
Cable Inc, according to people familiar with the matter.
** Italian insurance group Unipol has agreed to
exclusive talks with Allianz SE to sell the German
insurer assets carrying premiums worth about 1.2 billion euros
** Italian local utilities Acsm Agam SpA and
AEB-Gelsia said on Tuesday they had agreed to start talks on a
possible tie-up to help the two companies better compete in the
energy and environmental sectors.
** China's Lenovo Group Ltd has resumed talks to
buy International Business Machines Corp's low-end
server unit, a source familiar with the matter said, in a
purchase that would bolster Lenovo's efforts to diversify beyond
a shrinking PC market.
** Japanese oil refiner Cosmo Oil Co and
Spain-based Compania Espanola de Petroleos (CEPSA) have agreed
to work together on crude and natural gas development, the
Japanese company said.
** Fiat SpA said on Tuesday it had completed the
acquisition of shares in Chrysler it did not previously own,
making the U.S. unit a wholly-owned subsidiary of the Italian
** Activist investor Starboard Value has asked Darden
Restaurants Inc to delay the planned spinoff of its Red
Lobster chain to look at other options to lift the value of
shares, including improving operations and cutting costs across
** Czech electricity producer CEZ said it was
considering what to do with a 7 percent stake in Hungarian oil
refiner MOL that it is likely to hold after an option
for MOL itself to buy the shares expires on Thursday.
** Teva Pharmaceutical Industries will
acquire NuPathe Inc for $3.65 per share in cash, or
$144 million, to expand its portfolio of medicines to treat
conditions affecting the central nervous system.
NuPathe said it had terminated its takeover deal with Endo
Health Solutions Inc.
** South African food company Tiger Brands said it
had agreed to buy a Kenyan firm, identified by a newspaper as
milling and confectionery company Rafiki Mills, in a deal likely
worth $25 million.
** Swiss industrial group Klesch is considering buying the
refining unit of Canada's Harvest Operations, a South Korean
business daily said on Tuesday, as Harvest-owner Korea National
Oil Corp (KNOC) trims its overseas assets.
($1 = 0.6090 British pounds)
($1 = 0.7373 euros)
(Compiled by Neha Alawadhi and Sruthi Ramakrishnan)