Dec 19 The following bids, mergers, acquisitions
and disposals were reported by 2100 GMT on Wednesday:
** General Motors Co said it will buy back 200
million of its shares from the U.S. Treasury and the government
plans to sell its remaining stake within 15 months, all but
assuring a multibillion dollar loss.
Chief Financial Officer Dan Ammann said GM will pay $5.5
billion, or $27.50 a share, for the Treasury stake in a deal
expected to close by year end.
** General Electric is set to sign on Thursday a deal
to buy Italian aerospace supplier Avio excluding its space
division, sources close to the talks said.
"GE is expected to buy the non-space assets," one of the
sources said. The deal is expected to be worth around 3 billion
euros ($4 billion), sources close to the situation told Reuters
** Australian bank Macquarie has bought a stake in
Czech gas grids owned by Germany's No.2 utility RWE,
adding to its European infrastructure portfolio as it hunts for
** Australia's Macquarie Group Ltd has emerged as
the lead bidder to buy Robeco, four people familiar with the
matter said this week. The asset management arm of Dutch bank
Rabobank NV could fetch around 3 billion euros ($3.96
billion), one of the sources said.
** Chinese display-advertising provider Focus Media Holding
Ltd said on Wednesday it agreed to be bought by a
consortium of private equity funds led by Carlyle Group
for about $3.6 billion.
** Specialty insurer Markel Corp said it will buy
Alterra Capital Holdings Ltd for about $3 billion in
cash and stock to diversify into reinsurance.
** Knight Capital Group Inc, which was nearly
brought down by a trading error in August, said it will be
acquired by rival electronic trading firm Getco Holdings Co in a
cash-and-stock deal that the companies valued at $1.4 billion.
** A Turkish consortium put in a top bid of $1.23 billion to
buy a power grid supplying the country's third-largest city,
helping Ankara's drive to liberalise energy markets and reviving
its flagging privatisation schedule.
** German utility E.ON is to sell a majority
stake in its waste-burning unit to private equity firm EQT, as
it nears the end of a 15 billion euros ($20 billion) asset
disposal drive to cut debt.
** Commercial property owner Citycon and a
Canadian pension fund plan to buy a shopping centre in Stockholm
for 526 million euros ($695 million), a move that will help the
Finnish company expand in Sweden.
** A fresh $556 million offer for Billabong International
found little favor with investors as the stock dived 13
percent on concern the Australian surfwear firm's latest profit
warning might lead the suitor to lower or even withdraw the bid.
** Greenbrier Cos Inc rejected a $543 million bid
from activist investor Carl Icahn's American Railcar Industries
Inc, saying the offer is not good enough, and expressed
interest in buying American Railcar instead.
** Eastman Kodak Co agreed to sell its digital
imaging patents for about $525 million, a key step to bringing
the photography pioneer out of bankruptcy in the first half of
** The London Stock Exchange has cut its offer for
LCH.Clearnet by almost a third to 312 million euros ($413.7
million), to reflect rising capital requirements, sources
familiar with the matter said on Wednesday.
** British oil major BP Plc said it would sell its
34.3 percent stake in the Yacheng gas field in the South China
Sea to Kuwait Foreign Petroleum Exploration Co (KUFPEC) for $308
million in cash.
** Russian freight firm Globaltrans Investment is
to buy rail freight operator MMK-Trans for $225 million in cash,
the latest in a series of deals in an industry opening up to
** Britain's Spectris Plc said it signed an
agreement to sell its Fusion UV business to Germany-based
Heraeus Holding GmbH for $172 million.
** Taiwan's Investment Commission approved China's
investment of $135 million to take a 30 percent stake in a
container terminal operated by Yang Ming Marine Transport Corp
, the first port investment across the Taiwan Strait.
** Sberbank, Russia's top lender, will buy
Yandex.Dengi, an online payment service owned by Russian search
engine Yandex, for $60 million, the companies said in a
joint statement on Wednesday.
** Video game maker THQ Inc said Wednesday it filed
for bankruptcy, and private investment firm Clearlake Capital
Group has offered to buy its assets.
** Luxembourg said it had taken back a stake in freight-only
airline Cargolux from Qatar Airways with the intention
of selling it soon.
** Belgian visual technology company Barco said it
acquired a majority stake in a Norwegian projection technology
firm to help it push deeper into the mid-sized segment of the
** Romania postponed the sale of minority stakes in several
state-controlled companies, as agreed with the International
Monetary Fund, by a year to end-2013, the government said on
** The U.S. Federal Trade Commission on Tuesday said it
would seek to block a proposed $330 million purchase of PLX
Technology Inc by Integrated Device Technology Inc
, saying the combined firm would have a near-monopoly on
certain computer components.
** Rocky Mountain Chocolate Factory Inc on
Wednesday listed "numerous issues" with a supposed takeover
offer from PST Capital Group Ltd, indicating the bid was likely
** Dassault Aviation's outgoing chief executive on
Wednesday dismissed recent speculation of a grand merger of
French aerospace and defence companies.