(Updates Hutchison Whampoa, Hormel Foods; adds 451 Group, PPR)
Jan 3 The following bids, mergers, acquisitions
and disposals were reported by 2100 GMT on Thursday:
** A group led by Singapore property firm Overseas Union
Enterprise Ltd extended its S$13.1 billion ($10.7
billion) offer for Fraser and Neave Ltd (F&N) to Jan.
14, prolonging its battle with Thai billionaire Charoen
** SunPower Corp said it sold two solar projects in
California to a company controlled by Warren Buffett's Berkshire
Hathaway Inc, and would receive up to $2.5 billion in
proceeds and related contracts.
** Consolidation of Austria's cut-throat telecoms market
moved ahead on Thursday when Hutchison Whampoa Ltd
completed its 1.3-billion-euro ($1.7 billion) takeover of Orange
Austria, making it the country's third-biggest mobile operator.
** Hormel Foods Corp agreed to buy Skippy, the
iconic U.S. peanut butter brand, from Unilever Plc
for $700 million, adding the well-known kids lunch
staple to a portfolio that includes Spam canned
** U.S. Midwestern regional bank Flagstar Bancorp Inc
said it will sell a substantial portion of its
Northeast-based commercial loan portfolio to CIT Group Inc
for about $780 million as it looks to focus on its
community banking operations.
** Al Jazeera said on Wednesday it will buy Current TV, the
struggling cable channel founded by Al Gore and partners, in a
move that will boost the Qatar-based broadcaster's footprint in
the United States.
Terms were undisclosed, but analysts estimated the deal
could be worth as much as $500 million.
** Telekom Austria has completed its 390 million
euro ($516 million) acquisition of discount brand Yesss from
** Gap Inc, which owns clothing retailers Banana
Republic and Old Navy as well as its namesake brand, expanded
into the thriving luxury market with its purchase of women's
apparel retailer Intermix Holdco Inc for $130 million.
** Microsoft Corp bought start-up id8 Group R2
Studios Inc as it looks to expand further in technology focused
on the home and entertainment, a person familiar with the
** Hong Kong's Li & Fung Group agreed to acquire a
majority stake in South Korean children's apparel maker Suhyang
Networks for roughly 200 billion won ($188 million), a South
Korean newspaper reported.
** French luxury group PPR is in exclusive talks
to sell its Cyrillus and Vertbaudet children's clothing brands
to Alpha Private Equity Fund for 119 million euros ($156
million)including debt, it said on Thursday.
** New Zealand's Pyne Gould Corp Ltd said it has
agreed to sell its Perpetual wealth management business and
stake in Australia's van Eyk Research, paving the way for its
planned move to London or Sydney.
** Jet Airways said it was in talks with Abu
Dhabi's Etihad Airways for a potential stake sale in the Indian
carrier, although terms have not been finalised yet.
The statement was the first confirmation of a potential deal
by either side, a day after an Indian government source said the
Gulf carrier could pay up to $330 million for a 24 percent stake
** After months of trying to play matchmaker between the two
largest U.S. shopping mall operators, activist investor William
Ackman reversed course on Thursday, saying he is no longer
pushing for a sale because one party didn't want to buy.
Since late August, Ackman has argued publicly and often that
No. 1 mall operator Simon Property Group (SPG) should
bid for slightly smaller rival General Growth Properties (GGP)
, the second-largest mall operator after Simon first made
noise about a possible bid for GGP in 2011.
** Dubai Islamic Bank said on Thursday that its
board had approved plans to fully acquire Islamic mortgage
provider Tamweel, in which it already holds a majority
stake of 58.2 percent.
** Privately held technology research firm 451 Group said it
has acquired Yankee Group, a competitor that focuses on the
mobile communications industry, from private equity firm Alta
(Compiled by Tej Sapru and Pallavi Ail in Bangalore)