(Adds Abbvie, Allergan, TRW Auto, Telefonica, Bingham
McCutchen, Fred's, GTECH, Slovak Telekom, Cliffs Natural,
Rosneft, Woolworths, Koncar, Dong Energy ; updates Fiat
July 17 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on
** Shire Plc and U.S. drugmaker Abbvie Inc
plan to announce a $53 billion merger as soon as Friday morning,
two people said.
** Allergan Inc, trying to fend off a hostile
takeover bid from Valeant Pharmaceuticals International Inc
, has thrown up obstacles to a special shareholders
meeting, its biggest investor said.
** German car parts maker ZF Friedrichshafen AG can
raise its bid for U.S.-based TRW Automotive Holdings Corp
to as much as $13 billion, Bloomberg reported, citing
people with knowledge of the matter.
** Telefonica's move to reduce its stake in Italian
rival Telecom Italia may help the Spanish phone group appease
regulators over competition concerns in Brazil and possibly
accelerate consolidation in that market.
** In the latest sign of financial pressures in the legal
industry, the 123-year-old Boston law firm Bingham McCutchen is
seeking a merger with another top U.S. firm and has reached out
to at least four in the past three months, sources told Reuters.
** Private equity firm Sycamore Partners is in talks with
regional discount store operator Fred's Inc about a
potential takeover, according to people familiar with the
** Italian-regulated gaming company GTECH is
backing its $4.7 billion cash and stock acquisition of
U.S.-based International Game Technology with a $10.7
billion bridge loan.
** The Slovak government has mandated JP Morgan and
Citigroup to advise on the sale of its 49 percent stake in
Slovak Telekom, a unit of Deutsche Telekom, a
** Casablanca Capital LP said two independent proxy advisory
firms have recommended shareholders of Cliffs Natural Resources
Inc vote in favor of the hedge fund's bid to replace a
majority of the miner's board members.
** Morgan Stanley does not believe new U.S. sanctions
on Russian oil company Rosneft will affect a pending
deal between the two companies, the bank's chief financial
** South Africa's Woolworths cleared the final
hurdle to its $2 billion takeover of David Jones after
an Australian court gave the upscale clothing and food retailer
the green light on Thursday.
** The Croatian government said it would sell a minority
stake in electrical firm Koncar to raise funds for
overhauling the newest European Union member's sole fertilizer
** Fiat Chrysler has denied a magazine report
saying it's in merger talks with Volkswagen, while
the German carmaker said it had no takeovers on its agenda.
** Denmark's Dong Energy has agreed to divest 50
percent of a German offshore wind farm project to a group of
Danish pension funds, a sale that would free up capital to
expand its offshore wind business.
** U.S. investment fund Blackstone Group LP paid
3.615 billion euros ($5 billion) for a portfolio of home loans
belonging to Spain's bailed-out Catalunya Banc, the lender said
** Japan's biggest trading house Mitsubishi Corp
has submitted a non-binding bid to buy Murphy Oil Corp's
Malaysian oil and gas assets valued at about $2.5 billion, a
person familiar with the matter told Reuters.
** Hyundai Motor Group on Thursday expressed interest in
buying the site of Korea Electric Power's Seoul
headquarters, which real estate analysts said could fetch at
least 3 trillion won ($2.91 billion).
** Britain's Vodafone and its Greek business partner
Wind have offered to buy the shares they don't already own in
Forthnet, a small Greek internet, telephony and pay
television provider, Forthnet said on Thursday.
** 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
** Australia's New South Wales state government is
evaluating bids for two power stations it hopes will sell for at
least A$1 billion ($937.3 million), a spokeswoman said on
** John Malone's cable group Liberty Global Plc
has bought a 6.4 percent stake in ITV from BSkyB
The sale, at a price of 481 million pounds ($824 million),
may also indicate that BSkyB is looking to raise cash to push
ahead with its own expansion plans after it opened talks this
year to buy Rupert Murdoch's Sky Italia and Sky
Goldman Sachs placed 190 million shares in ITV at 190 pence
($320) each on Thursday, in a transaction linked to Liberty
Global's acquisition of a stake in the British broadcaster,
** German engineering group Siemens has been
preparing an offer to acquire U.S.-based compressor and turbine
maker Dresser-Rand, German magazine Manager Magazin
reported on Thursday, citing sources close to Siemens.
** Hong Kong-based private equity firm Gaw Capital Partners
is among several parties that have submitted binding bids for a
controlling stake in South Korea's Parnas Hotel Co Ltd, three
people with direct knowledge of the matter said.
The deal is seen worth around 600-800 billion won, two of
the people said.
** Shareholders of Hyundai Logistics Co, a unit
of South Korean conglomerate Hyundai Group, signed a
contract to sell a 600 billion won stake in the unit to Japanese
financial firm Orix Corp, the group said on Thursday.
** Switzerland's Novartis and German investment
company BWK are selling their stakes in medical skin patch maker
LTS Lohmann to fellow shareholder Dievini Hopp BioTech, having
failed to find a third-party buyer for the business.
** Brazil's state-controlled oil company Petróleo Brasileiro
SA is in talks to sell the 40 percent stake it owns
of a Brazilian natural gas distributor to electricity holding
company Cia Energética de Minas Gerais SA.
** South Korean steelmaker Posco said on
Thursday it will pursue the sale of three units including a
liquefied natural gas (LNG) terminal in order to improve its
** Love Culture Inc on Wednesday filed for Chapter 11
bankruptcy, becoming the latest women's apparel retailer to seek
protection from creditors, and said it may be sold after having
received interest from possible buyers.
** Cyprus-based Golboot Holdings, a firm controlled by
Goldman Sachs Group Inc, sold 11.8 million shares, or a
1.91 percent stake, in Indian auto maker Mahindra and Mahindra
Ltd via a block deal on the BSE exchange.
** The Carlyle Group LP raised about $78 million by
selling its entire stake in India's Repco Home Finance Ltd
, exchange data showed, making a near nine-fold return
on its six-year old investment.
($1 = 0.74 Euros)
($1 = 0.58 British Pounds)
($1 = 1028.95 Korean Won)
($1 = 1.07 Australian Dollars)
(Compiled by Ankit Ajmera and Amrutha Gayathri in Bangalore)