Market Chatter -- Corporate finance press digest
LONDON, June 24 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:
* Bank of New York Mellon Corp (BK.N), Sumitomo Trust & Banking Co (8403.T) and insurer T&D Holdings Inc (8795.T) are the remaining three contenders to buy Citigroup's (C.N) Japanese asset management unit, the Nikkei business daily reported. Nikko Asset Management has $90 billion in assets under management and a deal is likely to top $1 billion. [ID:nBNG457249]
* State Bank of India (SBI.BO), the country's top lender, aims to buy a mid-sized bank abroad for $1.5 billion to $2 billion to expand its global reach, India's Economic Times said, citing an unnamed official. It is looking at banks in countries with strong trade links with India, the paper said. [ID:nBOM422660]
* Drugmaker Wockhardt Ltd (WCKH.BO), which has sought a debt restructuring, may issue preference shares to banks against some of their derivative losses, India's Economic Times reported. [ID:nBOM165367]
* A major union this week called on Morgan Stanley (MS.N) to reverse recent salary hikes for senior executives and other top earners, the Wall Street Journal said, citing a letter from the union. [ID:nBNG357362]
For the latest Deals of the day click on [ID:nSP394406] (Compiled by Steve Slater; Editing by Hans Peters)
