Dec 18 The following bids, mergers, acquisitions
and disposals were reported by 2130 GMT on Tuesday:
** State Street Global Advisors has dropped out of the
bidding for Credit Suisse's $17.34 billion European
exchange-traded fund business, according to two sources familiar
with the situation.
** United Parcel Service Inc has offered more
concessions in a bid to win EU regulatory approval for its
5.2-billion-euro ($6.8 billion) bid for TNT Express, two people
familiar with the matter said on Tuesday.
** Germany's largest container shipping companies, loss
makers Hapag-Lloyd and Hamburg-Sued, are exploring a
merger to create a global player better able to survive the
sector's four-year slump.
** ConocoPhillips struck a deal to sell its Algerian
business unit to Indonesian state oil firm Pertamina for around
** Nielsen Holdings NV, known for its television
viewership ratings, agreed to buy Arbitron Inc, the top
provider of radio station audience ratings in the United States,
for $1.26 billion in cash.
** General Electric is set to clinch a deal to buy
Italian aerospace supplier Avio, whose parent company, Cinven,
has ended talks with rival French suitor Safran,
sources involved in the deal told Reuters.
** The company whose AR-15 type Bushmaster rifle was used in
the Newtown school massacre in Connecticut will be immediately
put up for sale, its private equity owner Cerberus Capital
Management LP said on Tuesday in response to investor concerns.
** The Irish government has decided to oppose Ryanair's
bid to take over Aer Lingus after studying
details of the plan, the country's transport minister said on
Tuesday in a blow to the budget airline's ambitions.
The European Commission, which is probing the 694 million
euro ($917 million) bid on competition grounds and will have the
ultimate say early next year, sent Ryanair a list of objections
to the tie-up last month.
** Dutch bank and insurance group ING said on
Tuesday it is still trying to find a buyer for its South Korean
life insurance operations, as part of the wider sale of its
Asian insurance and investment management operations.
** Gulf carrier Etihad is buying a 70 percent stake in Air
Berlin's frequent-flyer programme, injecting cash into
the loss-making German airline as it struggles to return to a
profit. Germany's No.2 airline after Lufthansa said on
Tuesday it expected cash proceeds of 184.4 million euros ($242.7
million) from the sale of the 'topbonus' programme - more than
the whole company's market value.
** American Railcar Industries Inc, controlled by
activist investor Carl Icahn, offered to buy rival railcar maker
Greenbrier Cos Inc for about $543 million, reviving a
nearly five-year old plan to combine the companies.
** Malaysian billionaire Sri Lim Kok Thay, whose luxury
empire spans casinos and cruise liners, is to buy half of yacht
maker Wider to expand into a fast-growing market in Asia, the
founder of the Italian company said on Tuesday.
** French state bank Caisse des Depots (CDC) has teamed up
with Abu Dhabi investment fund ADIA to form a
powerful consortium to bid for Total's TIGF gas
network business, sources said.
** Banco Sabadell said it had reached a deal to
buy Banco Mare Nostrum's branch network and business for 350
million euros ($462.46 million) in two Spanish regions.
** Japan's Sumitomo Life Insurance Co is close
to agreeing to buy HSBC Holding's 18 percent
stake in its Vietnam insurance business for about 30 billion yen
($360 million), a source familiar with the matter said on
** PT Semen Gresik Tbk, Indonesia's biggest cement
maker, has acquired a 70 percent stake in Vietnam's Thang Long
Cement JSC worth $157 million, as the company aims to expand its
reach across Southeast asia, the firm said.
** India's Mahindra & Mahindra will buy Navistar
International Corp's stakes in the automakers' two joint
ventures in the country, in a $33 million deal as the troubled
U.S. truckmaker looks to dump its underperforming businesses.
** Italian refiner Saras is to form a joint
venture with Rosneft that will allow it to tap the
Russian group's crude oil portfolio in return for giving its
partner access to the wider Mediterranean.
** Private equity group Ratos and a Swedish
pension fund said on Tuesday they would jointly buy a 50 percent
stake in Norwegian oil services group Aibel in a deal valuing
the company at 8.6 billion crowns ($1.53 billion).
** Gaming group Rank could have to sell six casinos
in Britain to win clearance for a takeover of a rival operator,
the Competition Commission said on Tuesday.
** Thai beer baron Charoen Sirivadhanabhakdi tried and
failed to acquire an additional stake of 10 percent in Fraser
and Neave Ltd (F&N), piling pressure on him to raise his earlier
$7.2 billion takeover bid for the Singapore conglomerate.
** Knight Capital Group's board is expected to soon
enter into exclusive talks with either Getco Holding Company LLC
or Virtu Financial LLC on the sale of the company, two sources
familiar with the negotiations said on Tuesday.