October 25, 2012 / 6:35 AM / 5 years ago

UPDATE 1-Market Chatter-Corporate finance press digest

Oct 25 (Reuters) - The following corporate finance-related
stories were reported by media on Thursday: 
    * General Electric Co held takeover talks with New
Jersey's Hudson City Bancorp Inc shortly before the
lender agreed to a $3.7 billion sale to M&T Bank Corp 
(MTB) in August, reported Bloomberg citing three people with
knowledge of the matter.* Private real estate investor Starwood Capital Group will
buy LNR Property LLC, the largest U.S. special servicer of sour
mortgages, for more than $1 billion, the Wall Street Journal
reported, citing two people with knowledge of the deal.

    * China National Gold Group Corp is moving closer
to making a formal offer for Barrick Gold Corp's 74 per
cent stake in its London-listed African subsidiary, underlining
growing interest from Chinese companies in acquiring gold assets
globally, reported the Financial Times.* Guardian News & Media, the publisher of The Guardian and
The Observer, has proposed making large-scale compulsory job
cuts among its newspaper journalists, the Telegraph reported.* Scandinavian airline SAS AB will ask employees to
take pay cuts of between 15 and 25 percent as part of a plan to
slash costs and return to profit, Danish newspaper Berlingske
reported, citing unnamed sources. 
    * MTS, Russia's largest mobile operator, will
acquire a quarter of a domestic bank for about 100 million
pounds ($160.29 million) as part of a strategy to expand further
into financial services, the Financial Times reported.* Admiralty Arch, one of London's most distinctive
buildings, has been sold to Rafael Serrano, a Spanish investor,
for close to 60 million pounds ($96.18 million), the Financial
Times reported.
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