Market Chatter -- Corporate finance press digest

LONDON, Nov 25 (Reuters) - The following corporate finance-related stories involving U.S. and European companies were reported by media on Tuesday:

* New Jersey's pension fund is under fire over a series of hedge fund investments, the Wall Street Journal said. [nBNG232442]

* Dave Whelan, founder of UK sports retailer JJB Sports (JJB.L), is in talks to buy part of the group for about 100 million pounds, the Financial Times said. JJB is negotiating to sell its chain of 50 health clubs, after Whelan sold his remaining shares in the group last year.

* Japanese electronics maker Panasonic (6752.T) was seeking to buy shares in smaller rival Sanyo (6764.T) at 120 yen each, far below the current stock price, the Yomiuri Shimbun reported. Panasonic said earlier this month it planned to acquire Sanyo and was in talks with Goldman Sachs (GS.N) and other Sanyo shareholders about the price, the paper said. [nT84601]

* Social networking company Facebook recently held acquisition talks with Twitter, the micro-blogging company, the Financial Times said. The negotiations put a value of as much as $500 million on Twitter, the paper said. [nBNG332000]

* Media mogul Sumner Redstone recently proposed to sell his family's 1,500-screen theatre chain in an effort to restructure his large debt load, the New York Times said, citing two people briefed on the negotiations. [nBNG197980]

* Lawmakers have introduced a bill to expropriate Argentina's biggest airline, Aerolineas Argentinas, after talks over the company's worth deadlocked, state news agency Telam reported. Aerolineas has a debt load of nearly $900 million, the government says. [nN24540235]

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(Compiled by Steve Slater)