July 24 The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on
** Buyout firms have a record level of expiring funds this
year, raising the prospect that many will have to ask investors
for more time to do deals or not use the money at all. Advisory
firm Triago says that $145 billion of so-called dry powder -
money pledged by investors, typically for set periods of time -
is due to be spent in 2013. Triago estimates that 10 percent of
the $145 billion will remain uninvested.
** Dell Inc founder Michael Dell pushed for easier
voting rules to help him win his battle to take the PC maker
private and offered a token 10 cents more per share to sweeten
his $24 billion bid.
** KKR & Co LP on Tuesday secured the cheapest
borrowing rates it ever got to fund a leveraged buyout, which
could cut hundreds of millions of dollars from interest it will
pay to finance its $3.9 billion takeover of Gardner Denver Inc
, banking sources said.
** Israeli holding company IDB Development Corp
is in advanced talks to sell a 30 percent stake in Clal
Insurance to a group of investors based in China at a
company valuation of 4.6 billion shekels ($1.3 billion).
** Davis + Henderson Corp, a Canadian financial
services provider, said on Tuesday it has agreed to acquire U.S.
rival Harland Financial Solutions for about $1.2 billion in cash
from Harland Clarke Holdings Corp.
** South Africa's Aspen Pharmacare Holdings valued
its bid for two of GlaxoSmithKline Plc's thrombosis
drugs and a French factory at around 700 million pounds ($1.08
billion), 100 million pounds ($153.7 million) of which will be
** UK Asset Resolution, Britain's state-run "bad bank," has
agreed to sell a portfolio of former Northern Rock loans to U.S.
private equity firm J.C. Flowers and debt recovery business
Marlin Financial for a combined 400 million pounds ($615
** Hanesbrands Inc, whose labels include the
Wonderbra, said it would buy lingerie company Maidenform Brands
Inc for $547 million to boost its product
** Nationalized Franco-Belgian banking group Dexia
has set GCS Capital a deadline of next Tuesday to conclude its
planned 380-million-euro ($502 million) purchase of Dexia Asset
Management, after which the sale will be canceled.
** Italy's Recordati said it has agreed to buy 90
percent of Tunisia's eighth-largest pharmaceutical company,
Opalia Pharma SA, for an enterprise value of about 37 million
euros ($49 million).
** Sumitomo Mitsui Banking Corp said it has
agreed to buy Societe Generale's private banking
business in Japan for an undisclosed sum.