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Deals of the day -- mergers and acquisitions
June 12, 2012 / 7:57 PM / in 5 years

Deals of the day -- mergers and acquisitions

June 12 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Tuesday:

** BNP Paribas, France’s biggest listed bank, is planning to sell its retail banking operations in Egypt as the lender seeks to shore up its capital base and exit non-core operations, two banking sources said. BNP, with around 70 branches in the North African country, may raise as much as $400 million if the sale goes through, one of the sources said, speaking on condition of anonymity.

** U.S. bank JPMorgan Chase said it remained committed to investing in Technicolor after the French set-top box maker rejected a 179 million-euro ($222.98 million) offer from JPMorgan on the grounds that it imposed unacceptable conditions.

** Billionaire James Packer would be open to an alliance with Singapore casino operator Genting to further his ambitions in Australia, where he is trying to wrest control of rival Echo Entertainment, a source said on Tuesday.

** GlaxoSmithKline is to buy Basilea’s new eczema drug Toctino for an initial 146 million pounds ($227 million) to boost its Stiefel dermatology business, the two companies said on Tuesday.

** Chipmaker Cypress Semiconductor Corp offered to buy smaller rival Ramtron International Corp for about $87.6 million, reviving a previously undisclosed bid it made last year but making little change to the overall price.

** Britain’s third largest supermarket group J Sainsbury has entered the e-book and social network market with the purchase of HMV Group’s shareholding in Anobii for a nominal 1 pound ($1.55).

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