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July 3 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:
* Cargill Inc, one of the world's leading cocoa traders, has explored the possibility of buying Archer Daniels Midland Co's cocoa business, a source familiar with the situation said. Such a purchase would create a global giant in the sector.
* Altegrity Inc, owned by private equity firm Providence Equity Partners, is looking to sell a division that provides background checks for private-sector employers and could fetch up to $1 billion, two people familiar with the matter said on Tuesday.
* Hutchison Whampoa is losing patience with Telecom Italia over lack of progress on a proposed merger of their Italian mobile phone units, people familiar with the talks said, casting doubt on prospects for a deal.
* U.S. chemicals group Rockwood Holdings Inc has revived efforts to hive off its titanium dioxide unit and is in talks with prospective buyer Huntsman Corp., two people familiar with the matter said.
* The University of Connecticut is planning to sell $225 million of general obligation bonds during the week of July 15, a market source said on Tuesday.
* Michael Dell has been advised to raise his $24.4 billion offer for Dell Inc, coming under further pressure as billionaire investor Carl Icahn revealed he had committed more than $3 billion to back an alternative proposal, a person familiar with the matter said.