UPDATE 3-Deals of the day -- mergers and acquisitions

Mon Sep 29, 2008 4:06pm EDT
 
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** A buyout of Japanese property firm Daito Trust Construction Co (1878.T) is unlikely to get done this year due to difficulty in raising funds for the deal estimated at $6 billion, financial industry sources said. [ID:nT274404]

** Kazakh gold miner KasakhGold (KZGq.L) said it had received a possible cash and shares offer for 50.1 percent of the company from Russia's top gold producer Polyus Gold (PLZLq.L). [ID:nLT412195]

** The government threw a lifeline to cash-strapped lender Hypo Real Estate (HRXG.DE) in an about-face just days after its finance minister said Germany's bank system was solid.

Berlin agreed to provide the bulk of 35 billion euros ($50 billion) in credit guarantees for Hypo, which is the fifth German bank to be bailed out by the state in the face of financial sector turmoil. [ID:nLT369888]

** Singapore's Neptune Orient Lines (NEPS.SI) said it has submitted a binding bid to acquire the Hapag-Lloyd container shipping business but declined to provide details of its bid. [ID:nSIN369943]

** Kookmin Bank 060000.KS cut the value of its planned sale of shares in Bank Internasional Indonesia (BNII.JK) to reflect a revision to Maybank's bid for the Indonesian lender. [ID:nSEO264871]

** Britain is set to nationalize troubled bank Bradford & Bingley BB.L after Spanish bank Santander (SAN.MC) agreed to buy its retail deposits and branch network. [ID:nLS351202]

** Australian steel company OneSteel Ltd (OST.AX) said it would make a NZ$175 million ($120 million) offer for its partly owned New Zealand subsidiary, Steel and Tube Holdings Ltd (STU.NZ). [ID:nWEL368063] (Compiled by Tina Kwan in Singapore, Amiteshwar Singh and Mary Meyase in Bangalore)

 
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