UPDATE 2-Deals of the day -- mergers and acquisitions

** Israel's El Al (ELAL.TA) is in talks to buy 30 percent of state-owned Montenegro Airlines, officials from the two airlines said. [ID:nVAS350895]

** A bid by Japan's Mitsubishi Rayon Co (3404.T) for unlisted British chemicals maker Lucite International has hit a hurdle in China where regulators have delayed the acquisition, two sources briefed on the matter said. [ID:nT50290]

** Orascom Telecom (ORTE.CA) will deem void a court ruling that it must sell its shares in Mobinil (EMOB.CA) to France Telecom (FT)(FTE.PA) if the French group does not meet an extended deadline for the deal, Orascom said.[ID:nLD468918] ** Total SA (TOTF.PA) boosted its hostile takeover offer for UTS Energy Corp (UTS.TO) by more than a third to C$1.75 per share on Monday, though its sweetened offer was quickly branded as inadequate by some of the Canadian oil sands developer's biggest shareholders.[ID:nN13368594]

** Two big shareholders of UTS Energy Corp (UTS.TO) rejected Total SA's (TOTF.PA) sweetened bid for the Canadian oil sands firm on Monday, saying the new C$1.75 per share offer remains inadequate.[ID:nN13367417] (Compiled by Adheesha Sarkar and Isheeta Sanghi in Bangalore)