(Adds Allergan, Blackstone, 3M, Elliott, Intralot Czech, ONGC,
Weltbild, Love Culture, GE, Telefonica, UniCredit, Ferrero;
updates Time Warner)
July 16 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on
** Rupert Murdoch's 21st Century Fox said it made a
bid to buy media conglomerate Time Warner Inc, but was
rebuffed. The bid was worth roughly $80 billion, or $85 per
share, in cash and stock, a source familiar with the situation
People familiar with Murdoch's thinking say he is determined
to bring the U.S. media conglomerate into his empire.
** Activist investor Bill Ackman urged Botox maker Allergan
Inc to negotiate a possible takeover by Valeant
Pharmaceuticals Inc and not delay a special shareholder
meeting that could overturn most of Allergan's board.
** General Electric Co is in talks to sell its
century-old household appliances business for as much as $2.5
billion, Bloomberg reported, citing people familiar with the
matter. The business, which had revenue of more than $8 billion
in 2013, may fetch $1.5 billion to $2.5 billion in a sale,
Bloomberg quoted the people as saying.
** Blackstone has won the auction for a
6.4-billion-euro ($8.66 billion) portfolio of property loans
belonging to Spain's bailed-out Catalunya Banc, which is being
prepared for a sale, two people familiar with the process said.
** 3M Co will pay about $885 million for Sumitomo
Electric Industries Ltd's stake in their Japan joint
venture, giving the diversified U.S. manufacturer full control
of the business, 3M said.
** U.S. hedge fund Elliott has filed a suit with a Munich
court demanding higher compensation for minority shareholders in
a squeeze-out of Kabel Deutschland by Vodafone
, two people familiar with the matter told Reuters.
** The Czech Fortuna Entertainment Group (FEG) has
completed the acquisition of Intralot Czech, the betting and
lottery company said.
** The Indian government invited bids from investment banks
to manage the sale of a 5 percent stake in state oil firm Oil
and Natural Gas Corp, a deal that could raise as much
as $3 billion.
** The administrator of insolvent German bookseller Weltbild
said he had broken off talks with investor Paragon Partners and
agreed to do a deal with restructuring specialist Droege
International Group instead.
** Love Culture Inc on Wednesday filed for Chapter 11
bankruptcy and said it is up for sale, becoming the latest
women's apparel retailer to seek protection from creditors.
** Telefonica will sell 750 million euros ($1
billion) in bonds that convert to Telecom Italia
shares, it said, effectively loosening its grip as largest
** UniCredit has received at least three binding
offers for debt collection unit UCCMB, which Italy's biggest
bank by assets has put up for sale as it tackles its large stock
of soured loans, three sources close to the matter said.
** Italy's Ferrero, the maker of Nutella chocolate spread,
said on Wednesday it had bought Turkish company Oltan, one of
the world leaders in the production and marketing of hazelnuts.
** Sanofi has held talks with Abbott Laboratories
, Mylan Inc and private equity firms over the
possible sale of a 6.3 billion euro ($8.5 billion) portfolio of
mature drugs, according to an internal document seen by Reuters.
** Italy's GTECH will buy U.S. slot machine maker
International Game Technology for $6.4 billion,
including debt, shifting the lottery operator's center of
gravity away from its struggling domestic market.
** Japan's KDDI Corp and Sumitomo Corp, in
partnership with Myanmar's state-backed telecoms operator, plan
to invest about $2 billion over the next decade to expand
service in one of the world's least-connected countries.
** International Business Machines Corp said on
Tuesday that it would partner exclusively with Apple Inc
to sell iPhones and iPads loaded with applications
geared at enterprise clients this fall.
** Airbus Group is ready to offer Poland a sweeping
partnership alongside its core European nations to support its
bid for a major military helicopter contract, a senior executive
** Canadian private equity firm Onex Corp said it
would buy York Risk Services Group Inc, an insurance claims
services provider, for $1.33 billion.
** Japanese financial firm Orix Corp has agreed to
buy a controlling stake in a logistics unit of South Korean
conglomerate Hyundai Group in a deal worth about 600
billion won ($581.5 million), two people with direct knowledge
of the matter said on Wednesday.
** Finance firm Pepper Australia has roped in Bank of East
Asia Ltd to help run a Hong Kong consumer finance
business that it is seeking to acquire from Standard Chartered
Plc, said sources with direct knowledge of the matter.
** Thailand's second-largest private power producer,
Electricity Generating Pcl, on Wednesday said it had
bought a 40.95 percent stake in Philippines-based Masinloc Power
Partners for $453 million.
** Buyout group SVP Global is preparing to sell Vestolit, a
maker of durable plastics used for window frames, floorings and
pipes in a potential 300 million euro ($407 million) deal, three
people familiar with the transaction told Reuters.
** Portugal Telecom has been forced to take a cut in
its share of the merger with Brazil's Grupo Oi after
a holding company of the Espirito Santo family failed to repay
more than $1 billion it owed to the telecom company.
** When Imperial Tobacco Group Plc agreed Tuesday to
buy a group of brands from Reynolds American Inc and
Lorillard Inc as part of their merger, the British
company insisted the assets include Lorillard's blu e-cigarette
** Mexico's Grupo Bimbo, one of the world's
largest bread makers, said on Tuesday it had agreed to buy
Ecuadorian peer Supan, as it seeks to widen its presence in
** Britain's Vodafone said it was unlikely to be
interested in telecom assets being put up for sale in Mexico by
tycoon Carlos Slim's America Movil since a deal would
not fit with its focus on the corporate market in Latin America.
** Negotiations on an investment by Etihad Airways in
loss-making Italian carrier Alitalia are expected to be
concluded by the end of this month, Etihad CEO James Hogan said
** Qantas Airways Ltd will be able to increase its
level of foreign ownership, but will remain majority
Australian-owned after more ambitious changes being pushed by
the federal government were blocked by opposition parties.
** South Korean steelmaker POSCO is considering
selling as much as 49 percent of its liquefied natural gas
terminal in the southwestern city of Gwangyang, a company
official told Reuters on Wednesday.
** Sun Pharmaceutical Industries Ltd, India's
third-largest generic drugmaker by sales, said on Wednesday it
had acquired U.S.-based Pharmalucence Inc, which has sterile
injectable capacity and research capabilities.
** Spain's Grupo Villar Mir and Portuguese utility Energias
de Portugal (EDP) have emerged as potential buyers for
German utility E.ON's Spanish assets, two people
familiar with the process told Reuters.
** Private equity firm Emerging Capital Partners plans to
sell its 50.6 percent stake in Continental Reinsurance
, the African insurer said in a filing with the
Nigerian Stock Exchange.
** Efforts by Turkey's Cukurova to recover a disputed
controlling stake in mobile phone operator Turkcell
suffered a setback on Wednesday after regulators said fellow
conglomerate Yildiz Holding could not help it finance the move.
** Emerging markets telecoms group Millicom
reckons it will get the final approval for its merger with
Colombian UNE in a few weeks, its top executive said on
($1 = 0.74 euros)
(Compiled by Ankit Ajmera and Amrutha Gayathri in Bangalore)