July 12 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Friday:
** US Airways Group Inc shareholders approved the
carrier's plan to merge with AMR Corp's American
Airlines, clearing another hurdle to the deal that would create
the world's largest carrier.
The $11 billion merger deal was announced in February and
the companies expect to complete it by the end of September,
said Parker, who will be chief executive of the new American
Airlines, which will be based in Texas.
** Britain will start selling its shares in Lloyds Banking
Group to pension funds and insurers later this year,
rejecting interest from private equity and sovereign wealth
funds, industry and political sources said.
The sale will take the form of an "accelerated book build"
in which up to 10 percent of shares in the bank would be sold to
financial institutions over a period of one or two days, raising
between 4 billion pounds ($6.1 billion)and 5 billion.
** Walt Disney Co, Twenty-First Century Fox Inc
and NBCUniversal said on Friday they will
keep their ownership stakes in video streaming website Hulu and
will invest $750 million to help it grow.
** Billionaire investor Carl Icahn and Southeastern Asset
Management Inc sweetened their bid for Dell Inc by
adding a warrant they say would increase the value of the offer
to $15.50-$18 per share from $14.
** German bathroom fixtures maker Grohe has attracted
takeover interest from at least two suitors, people familiar
with the process said, in what could be Europe's largest private
equity deal of the year.
Thailand's Siam Cement and Switzerland's Geberit have
expressed interest in buying Grohe, according to the people
familiar, with the value of the private company said to be worth
around 4 billion euros ($5 billion).
** The prospect of a bid battle powered Invensys
shares to a ten-year high on Friday, after the British engineer
said it had received a 3.3 billion pound ($5 billion) takeover
proposal from France's Schneider Electric.
** German industrial group GEA Group AG will
target private equity groups in its push to sell its heat
exchanger unit, hoping to fetch a price of more than 1.3 billion
euros ($1.7 billion), three people familiar with the situation
** Chinese cellphone chip designer Spreadtrum Communications
Inc is set to be acquired by a state-owned Chinese
company in a $1.78 billion deal likely to improve its links to
mobile carriers in the world's most populous country.
** Private equity firm Permira has entered the
fray for Norwegian state-controlled Cermaq's fish feed arm
with a bid worth more than $1 billion, two sources
familiar with the situation said on Friday.
Fish farmer Cermaq said on Monday it had received a rival
indicative offer for the unit, EWOS, which oustripped a 6.2
billion crown ($1.0 billion) bid from private equity firms Bain
** British life insurer Phoenix Group is in talks
to buy the Admin Re unit of Swiss Re, re-starting its
drive to consolidate the sector and achieve savings after a
hiatus caused by its heavy debts.
** Indonesian coal tycoon Samin Tan has agreed a $223
million deal to lift his stake in Bumi Plc to over 47
percent, buying out the Bakrie family in the first part of a
deal aimed at ending the family's involvement in the troubled
London-listed coal miner.
** Flint Hills Resources said on Thursday it would
acquire Platinum Ethanol's plant in northwestern Iowa, a
facility with an annual capacity of 110,000 million gallons.
The deal is expected to close later this year and would
bring to six the number of ethanol plants owned by Flint Hills,
five of which would be in Iowa, the No. 1 ethanol- and
** Tax services provider H&R Block Inc said it would
sell its banking assets to a unit of Republic Bancorp Inc
as it looks to avoid a sharp rise in costs associated
with the introduction of stricter banking rules by the Federal
** Brazilian power company Energisa SA on
Thursday agreed to acquire control of Grupo Rede Energia SA
, sealing a deal aimed at steering the former rival
out of bankruptcy protection.
Energisa has offered to pay creditors 1.95 billion reais
($862 million) and pump an additional 1.1 billion reais of fresh
investments into the company.
** Qatar, the world's biggest liquefied gas producer which
is looking to grow more quickly abroad, has held initial talks
with Germany's No.2 utility RWE AG about buying its
DEA oil and gas exploration and production unit.
RWE said in March it was planning to offload DEA to slash
capital spending and cut its multi-billion euro debts, with one
of the people saying the company aimed to raise about 5 billion
euros ($6.5 billion) from the sale.
** Zurich Financial Services has sold about $283
million worth of shares in New China Life Insurance,
paring its stake in China's third-biggest life insurer in an
attempt to diversify its Asian portfolio.
** Britain's Centrica said on Friday it was buying
Texas-based electricity retailer Bounce Energy for $46 million,
giving it a new online platform to help grow its North American
** Mitsubishi Tanabe Pharma Corp said it would buy
a 54 percent stake in Canada's Medicago Inc for up to
C$179 million ($172 million) to add plant-derived vaccine
technology to its portfolio.
** Spain's Banco Popular will book a
21-million-euro ($27.4 million) profit from the sale of the life
insurance portfolio of its Pastor Vida arm, a source with
knowledge of the deal said on Friday.
** South Korea is reviewing its overseas investments in oil
and gas due to poor profitability, particularly those made in
the last five years, which could lead to asset sales to offset
losses, industry and government sources said on Friday.
** German home improvement retailer Praktiker's
insolvency prompted speculation on Friday that its outlets may
be sold to rivals seeking market share in Europe's biggest
economy, such as Kingfisher or Hagebau.
** Bank of Nova Scotia withdrew its application to
acquire a nearly 20 percent stake in Bank of Guangzhou on Friday
after Chinese authorities decided against proceeding with the
C$719 million ($691.28 million) deal.
** Greece's bank rescue fund picked Eurobank to
acquire small lender Proton on Friday as part of moves to
further consolidate its banking system and meet one of the
conditions for its next tranche of bailout funding.
Based on Proton's 2012 financial statement, it has negative
equity of almost 200 million euros ($261.07 million).
** Greece launched a tender to sell its railway monopoly
Trainose on Friday, as is scrambles to meet privatisation
targets agreed with its international creditors and pay down its
Greece has raised about 1.7 billion euros ($2.22
billion)from state asset sales since its first bailout in 2010
and is unlikely to meet this year's 2.5 billion euro target
after failing to find buyers for natural gas company DEPA last
** Swiss drugmaker Roche Holding AG is seeking
financing for a potential takeover of Alexion Pharmaceuticals
Inc <ALXN.Oa transaction that would be the largest healthcare
deal of the year, two people familiar with the matter said on
Roche and Alexion declined to comment.