UPDATE 1-Deals of the day -- mergers and acquisitions

(Adds Top Ships and LS Power Equity Partners)

Oct 9 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Thursday.

(For Reuters columns on deals, click on [DEALTALK\] )

** Top Ships Inc (TOPS.O) said it extended an exclusivity agreement on a possible acquisition by an affiliate of George Economou, the company's single largest shareholder and CEO of DryShips Inc (DRYS.O). To read more, please double click on [ID:nBNG323197]

** LS Power Equity Partners said it scrapped plans for a C$7.8 billion ($7 billion) takeover of TransAlta Corp (TA.TO) as shares in the Canadian power producer languished well below the bid price. [nN09388892]

** Apollo Management agreed to contribute $540 million to Hexion Specialty Chemicals to help the private equity firm's unit close on the acquisition of Huntsman Corp (HUN.N). [ID:nN09376688]

** Cleaning and hygiene products maker Zenith Hygiene Group Plc ZHG.L agreed a 2.58 million pound ($4.45 million) takeover bid from a vehicle led by founder and former Chief Executive Ringo Francis. [ID:nL9343647] (Compiled by Mary Meyase and Kuganandhan Paramanandan in Bangalore)