Deals of the day -- mergers and acquisitions
July 3 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Friday.
(For Reuters columns on deals, click on [DEALTALK/])
** Johnson & Johnson (JNJ.N) said about 84.4 percent of the outstanding shares of Cougar Biotechnology Inc CGRB.O were tendered during the initial offering period that ended Thursday and the subsequent offering period for the remaining shares will expire on July 9. In May, Johnson & Johnson had agreed to buy cancer drug developer Cougar Biotechnology for about $970 million in cash. To read more, double click on [ID:nBNG512920]
** A Chinese automaker has offered to buy a stake in General Motors GMGMQ.PK unit Opel, challenging a deal from Canadian auto parts supplier Magna (MGa.TO). [ID:nL3419016 ]
** Mining exploration company Jubilee Platinum Plc (JBLJ.J) (JLP.L) said it had made an offer to acquire platinum and nickel producer Braemore Resources Plc BRR.L BREJ.J in a share offer. [ID:nL3619157 ]
** British life insurer Friends Provident FP.L will this month hand its majority stake in asset manager F&C (FCAM.L) to its own investors after receiving final court approval for the plan. [ID:nL3614842 ] ** Global investors Carlyle [CYL.UL] and Primus are among the bidders for AIG's (AIG.N) Taiwan insurance unit, as the troubled U.S. insurer looks to divest some of its global assets. [ID:nTP305097 ] ** Debt-troubled UK heating products maker Baxi BCPRTG.UL said it agreed to merge with Dutch rival De Dietrich Remeha to boost its capital position and create one of Europe's biggest heating products companies. [ID:nL3080656]
**Australia-based royalty and mineral exploration company Royalco Resources Ltd (RCO.AX) said it rejected Anglo Pacific Group Plc's (APF.L) improved offer because it undervalues the company. [ID: nL3242064 ] ** Austrian builder Strabag (STRV.VI) said it dropped its plan to buy Mexican cement giant Cemex's (CMXCPO.MX) (CX.N) Hungarian and Austrian units for 310 million euros ($435 million). [ID:nL3637838 ] ** Petro Andina PAR.TO, a Canadian-based oil and gas exploration company, said its board unanimously recommends that its shareholders reject an unsolicited bid by Netherlands-based Pluspetrol Resources Corp. [ID:nN03153991 ]
** Canada's Teck Resources (TCKb.TO) said it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help Teck pay down debt while expanding China's portfolio of commodity investments. [ID:nN03153079]
** Thailand will look at any request by Industrial and Commercial Bank of China (ICBC) to buy more than 49 percent in ACL Bank ACL.BK as long as the offer is good and will benefit the sector, the finance minister said. [ID:nBKK534354 ]
** Japan's Sumitomo Mitsui Financial Group (8316.T) (SMFG) denied a report it was considering buying a stake in Nikko Asset Management after Citigroup Inc (C.N) sells the fund manager to Sumitomo Trust and Banking (8403.T). [ID: nT284846] (Compiled by Sakshi A Mattoo in Bangalore)
