March 6 The following bids, mergers,
acquisitions and disposals were reported by 2100 GMT on
** Johnson Controls Inc is exploring a potential
sale of its automotive interiors unit, a move that would allow
the diversified manufacturer to focus on higher-margin building
controls and next-generation car batteries, three people
familiar with the matter said.
** U.S. investment firm Royalty Pharma stood by
its offer to acquire Irish drugmaker Elan, which has
rejected the approach, and said it was ready to move quickly and
could complete due diligence within 20 days.
** The sale of ING Groep's South Korean unit is set
to be revived after private equity-backed Tong Yang Life
Insurance Co Ltd said it was considering whether to
buy the business, which is valued at about $2.1 billion.
** Debt collector Encore Capital Group Inc has
agreed to buy Asset Acceptance Capital Corp for $200
million to strengthen its position in a highly fragmented
** Kroenke Sports & Entertainment LLC said on Wednesday that
it had delivered a definitive counter proposal to buy Outdoor
Channel Holdings for $8.75 per share in cash,
challenging a purchase offer by Leo Hindrey's InterMedia.
** EBX, the conglomerate that manages Brazilian billionaire
Eike Batista's stakes in mining, oil and logistics companies,
and BP Products North America Inc of the BP Group have
signed an agreement to form a 50-50 joint venture to trade
** A special committee of Dell Inc's board of
directors said on Wednesday after a months-long evaluation that
the best alternative for shareholders would be a sale of the PC
Activist investor Carl Icahn has built a stake that was
likely around 100 million shares in Dell and wants the personal
computer maker to conduct a leveraged recapitalization,
complicating founder Michael Dell's effort to take the company
private, CNBC reported.
** Verizon Communications Inc has weighed several
options involving its relationship with Vodafone Group Plc
and its joint ownership of Verizon Wireless ranging from
ending its wireless venture with the European company to a full
merger with Vodafone, Bloomberg reported.
** Private equity firms including Blackstone Group LP
and Carlyle Group have teamed up and are exploring a
joint offer for Life Technologies Corp, the biomedical
laboratory equipment maker with a $10 billion market value, a
person familiar with the matter said on Tuesday.
** The Czech government plans to sell a minority stake in
flag carrier Czech Airlines (CSA) to Korean Air, the
only party interested in the loss-making airline, Finance
Minister Miroslav Kalousek said on Wednesday.
** More than ten firms have approached Nyrstar
hoping to secure the exclusive rights to a portion of the
world's largest zinc producer's output worth an estimated $700
million a year, sources said.
While official negotiations over the offtake have not yet
started, commodity traders Trafigura, CWT Ltd's
MRI and Louis Dreyfus said they are
interested in bidding for the deal, which includes 350,000
tonnes a year of Nyrstar's European zinc production.
** North American and Spanish banks are lining up to bid on
City National Bank of Florida over the next few days, according
to sources familiar with the situation.
Banks that are expecting to bid include Canadian bank TD
Bank, Winston-Salem, North Carolina-based BB&T Corp
, Pittsburgh-based PNC Financial Services Group
as well as Spanish banks Banco Sabadell and Banco
** Canadian miner First Quantum Minerals, in the
throes of a C$5.1 billion bid for rival Inmet Mining Corp
, said on Wednesday it was confident the hostile bid
would succeed, a week after extending the offer.
** Carmaker Fiat's Chief Executive Sergio
Marchionne said on Wednesday that if he agrees to buy the stake
in its U.S. unit Chrysler that Fiat does not already own, then
the two could merge by the end of this year.
** Alamos Gold Inc said it was close to blocking
Hecla Mining Co's rival bid for Aurizon Mines Ltd
, and had the support of other "large shareholders."
Alamos said it had 29.5 percent Aurizon shares as on Tuesday
afternoon, including the 16.11 percent stake it already held in
** Chinese Internet portal Sohu.com Inc denied a
media report on Wednesday that the company is talking to
investment banks and private equity funds about a possible plan
to take the company private.
** Israel's IDB Development Corp sold its remaining 10.64
percent stake in Clal Industries and Investments (CII)
to an unnamed institution for 223 million shekels ($60 million).
** Elliott Advisors (UK), the biggest investor in National
Express, said it was selling half of its near 20 percent
stake in the British transport group to diversify its portfolio.
** German antitrust regulators again postponed a ruling on a
plan by hospital operator Asklepios to take a stake of up to
10.1 percent in rival Rhoen-Klinikum.