February 11, 2008 / 10:11 AM / 11 years ago

UPDATE 1-Deals of the day -- mergers and acquisitions

(Adds New York Times, E*Trade Financial, AbitibiBowater, and others)

Feb 11 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1430 GMT on Monday.

(For Reuters columns on deals, click on [DEALTALK/])

** Yahoo YHOO.O is seeking to restart merger talks with AOL TWX.N as a means of defending itself against an unsolicited bid approach from Microsoft (MSFT.O), the Times newspaper said.

To read more, please double click on [nL11640999]

** Yahoo Inc YHOO.O rejected Microsoft Corp’s (MSFT.O) unsolicited takeover bid, currently valued at $42 billion, as too low, saying its board had unanimously concluded it was not in the best interests of shareholders. [nWNAS0353]

** Microsoft Corp (MSFT.O) said it agreed to acquire Danger Inc to strengthen mobile consumer vision. [nWNAS0354]

** Hungary’s OTP Bank OTPB.BU is to sell its insurance arm to France’s Groupama for 164 billion forints ($897.2 million), more than analysts had expected, to free up cash to finance expansion in the east. [nL11674475]

** Sumitomo Heavy Industries Ltd (6302.T) said it offered about $532 million to acquire Axcelis Technologies Inc (ACLS.O) and asked the semiconductor-equipment maker to hold talks to complete a transaction. [nN11619730]

** Bayer BAYG.DE is to acquire Possis Medical Inc. POSS.O in an agreed deal worth $361 million in cash to boost its diagnostic imaging business, the German drugs and chemicals group said. [nL11280265]

** Cooper Industries Ltd CBE.N said it has bought a controlling stake in UK-based MTL Instruments Group Plc, a maker of electronic instruments and surge protection equipment, for 144.3 million pounds, or about $281 million. [nWEN3886]

** The New York Times Co (NYT.N) shareholder Harbert Management Corp along with affilitates such as Harbinger Capital Partners disclosed a 9.96 percent stake in the media company, according to a regulatory filing. [nWNAS0325]

** E*Trade Financial Corp (ETFC.O) said that it would sell nearly all of its RAA Wealth Management business to PHH Investments Ltd as the online brokerage takes steps to shed non-core assets and bolster a balance sheet hit by subprime losses. [nWNAS0322]

** Newron Pharmaceuticals SpA (NWRN.S) acquired private U.K. biopharmaceutical firm Hunter-Fleming Ltd. The company will make an upfront payment of 8 million euros, minus net debt, in newly issued Newron shares. [nWEB4580]

** Shares in Italian broadband operator Tiscali (TIS.MI) fell more than 6 percent after it denied it was approached by potential buyers. [nL11719290]

** Finnish utility Fortum FUM1V.HE said it has agreed to buy all shares in Latvian heat company Jelgavas Kogeneracija, but did not disclose the value of the deal. [nHEL006193]

** VCG Holding Corp VCGH.O said it signed an agreement to buy an adult nightclub for $22 million in cash and stock. [nWNAS0311]

** Catalyst Paper Corp CTL.TO will boost newsprint output by more than 60 percent with the acquisition of AbitibiBowater’s ABH.NABH.TO Snowflake Arizona recycled-newsprint mill for $161 million in cash, the forest products firms said. [nN11619231]

** Clothing company Kellwood Co KWD.N said it agreed to be acquired by Sun Capital Securities Group LLC, assuming the private equity firm’s tender offer is successful and that it ends up with a majority of Kellwood shares upon the offer’s closing. [nN11517177]

** Education services firm Everonn Systems India Ltd EVSI.BO said it has acquired Bihar-based Toppers Tutorial Pvt Ltd for an undisclosed sum. [nBOM60957] (Compiled by Manish Gupta in Bangalore)

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