October 18, 2012 / 10:06 AM / in 5 years

Deals of the day -- mergers and acquisitions

Oct 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** State oil firm Rosneft tightened its grip on the Russian oil industry, lodging a cash and shares bid for British oil company BP’s 50 percent stake in the country’s third-largest oil producer, TNK-BP.

Sources familiar with the actions of BP, Rosneft, their advisers and financiers said a bid had been submitted to BP that valued the whole of TNK-BP at over $50 billion.

** Wireless carrier Sprint Nextel Corp said it has acquired a majority interest in Clearwire Corp by buying a stake from the company’s founder, after a dispute with Intel and other investors scuttled a similar attempt to take control last week.

The Clearwire deal comes less than a week after Sprint agreed to sell 70 percent of itself to Japan’s Softbank Corp 9984.T in a $20 billion transaction.

** Hong Kong businessman Richard Li, son of Asia’s richest man Li Ka-shing, is nearing a deal to buy ING’s Hong Kong and Thailand business for over $2 billion, sources with direct knowledge of the matter told Reuters.

** Hong Kong’s Hutchison 3G will need to sell assets such as spectrum to sooth regulatory worries about its planned 1.3 billion euro buy of France Telecom’s Orange Austria, the EU’s antitrust chief said on Thursday.

** Indian Hotels Company Ltd (IHCL) has made an unsolicited $1.42 billion bid for U.S. luxury hotels group Orient-Express Hotels, which turned down an offer in 2007 to form a strategic alliance.

** Morgan Stanley is exploring “different structures” for its commodities business, the CEO of the investment bank said on Thursday, the firm’s first public comments hinting at a possible sale of its multibillion-dollar oil and metals trading arm.

** Electrical products distributor Wesco International Inc said it will buy rival EECOL Electric Corp for about C$1.14 billion ($1.16 billion) to expand its presence in Canada and in South America.

** Ally Financial, the auto lender 74 percent owned by the U.S. government, will sell its Mexican insurance business to insurance and reinsurance company ACE Ltd for $865 million in cash as it looks to focus on its U.S. operations.

** Chinese appliance maker Haier said it would be taking a majority stake in New Zealand’s Fisher and Paykel Appliances Ltd after some institutional investors accepted its sweetened offer of NZ$1.28 a share, a price which values the company at around NZ$927 million ($760 million). Haier already holds a 20 percent stake in the company.

** IBM Corp is in advanced talks to buy Israel-based Red Bend Software, a provider of mobile phone software, for $200 million to $250 million, Israeli media reported.

** A unit of Malakoff Power Bhd, Malaysia’s largest independent power producer, is buying DRB-HICOM Bhd’s power plant operation and maintenance unit for 575 million ringgit ($189.39 million) in cash, according to a local stock exchange filing.

** The Bulgarian government will start the sale of 33 percent stakes in two domestic power distribution companies controlled by Czech power utility CEZ on Oct. 29, the privatisation agency said on Thursday.

It hopes to raise over 100 million levs ($67.1 million) from the sale, which will be carried out on the Sofia bourse, an official familiar with the process said.

** Advent International looked set to win control of Polish retailer EKO Holding after raising its offer for a third time, even though a rival private equity firm made a higher bid soon after.

** Aircraft maker Hawker Beechcraft Inc, owned by Goldman Sachs and Onex Corp, said it intends to emerge from bankruptcy as a standalone company after talks to sell itself to Chinese aerospace firm Superior Aviation Beijing Co failed.

** Kuwait Projects Co said it planned to enter into a “strategic partnership” with Japan’s Orix Corp and that the companies were mulling a joint project in Algeria.

** U.S. agribusiness Archer Daniels Midland Co and Wilmar International Ltd, the world’s largest listed palm oil producer, said on Thursday they completed regulatory approvals for a partnership in the global fertilizer and European vegetable oil sectors.

** Portugal on Thursday named Synergy Aerospace, owned by Brazilian airline entrepreneur German Efromovich, as the sole potential buyer of its struggling national carrier TAP.

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