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

Thu May 15, 2008 3:53pm EDT
 
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(Adds Comcast, Deutsche Bahn, and others)

May 15 (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])

** CBS Corp (CBS.N: Quote, Profile, Research, Stock Buzz) said it will make a cash tender offer for all issued and outstanding shares of CNET Networks CNET.O for $11.50 per share. The deal represents an equity value of about $1.8 billion, it said. [nN15197144]

** Italian regional utility A2A SpA (A2.MI: Quote, Profile, Research, Stock Buzz) plans to buy out other shareholders in Delmi, a holding company for power company Edison SpA, by the summer in a deal potentially worth more than 500 million euros ($775 million). [nL15538301]

** Anglo-Swiss miner Xstrata Ltd (XTA.L: Quote, Profile, Research, Stock Buzz) bid $398 million for Australian-listed Indophil Resources NL (IRN.AX: Quote, Profile, Research, Stock Buzz) in a move that would give it full control of a giant copper mine in the Philippines.

Indophil rejected the A$426 million, or $1 a share, offer as "opportunistic", saying it did not reflect the value of the company. [nSYD139264]

** Turkish lender Vakifbank VAKBN.IS said it planned to sell all or part of its shares in its insurance and pension businesses, following a series of sales in Turkey's fast-growing insurance sector. [nL15777883]

** Comcast Corp (CMCSA.O: Quote, Profile, Research, Stock Buzz) has agreed to acquire pioneering Web start-up Plaxo Inc, which was first to seek to turn address books into social networks and laid the foundation for Friendster and Facebook. [nN14545249]  Continued...

 

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