September 10, 2008 / 9:27 AM / 10 years ago

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

(Updates Lehman, adds Deutsche Postbank, Dow Chemical and others)

Sept 10 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Wednesday.

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

** Lehman Brothers Holdings Inc said it plans to sell a majority stake in its investment management division and spin off commercial real estate assets as the struggling U.S. investment bank fights to raise capital. To read more, please double click on [ID:nN09324233]

** Deutsche Bank (DBKGn.DE) is close to clinching a stake in rival Deutsche Postbank DPBGn.DE in a deal that could come later this week, sources with direct knowledge of the matter said. [ID:nLA49402]

** Dow Chemical Co DOW.N said it was exploring the divestiture of certain businesses in a bid to mitigate any potential antitrust issues associated with its acquisition of Rohm and Haas ROH.N. [ID:nN10445112]

** Lower Saxony would raise its stake in Volkswagen (VOWG.DE) to 25 percent if it was necessary to retain the state’s blocking minority in the German carmaker, state premier Christian Wulff said. [ID:nLA407254]

** ImClone Systems Inc IMCL.O said it has received a takeover offer of $70 a share from a large pharmaceutical company, topping an earlier bid of $60 a share from Bristol-Myers Squibb Co (BMY.N) and sending its shares up 7 percent. [ID:nN10412354]

** Semiconductor maker Vishay Intertechnology Inc (VSH.N) sweetened its takeover offer for International Rectifier Corp IRF.N to $1.7 billion, after an earlier bid was rejected. [ID:nBNG351633]

** Spain’s Iberdrola (IBE.MC) accepted the conditions imposed by the New York state regulator on its $4.5 billion takeover of U.S. utility Energy East Corp EAS.N and said the deal would be completed in a few days. [ID:nLA34763]

** South Africa’s Aquarius Platinum AQP.L denied it was working on a rival merger deal with the world’s No.3 platinum producer Lonmin (LMI.L). [ID:nLA386654]

** Spanish utility Union Fenosa UNF.MC said it is selling its 35.44 percent stake in regional telecoms operator R for 150 million euros ($212.3 million). [ID:nMDT005559]

** British aerospace company GKN GKN.L is set to buy a wings factory at Filton in Britain from European planemaker Airbus for up to 150 million pounds ($265 million), a source with knowledge of the deal said. [ID:nLA63156]

** The U.S. Federal Trade Commission has voted to challenge Polypore International’s PPO.N purchase of privately held Microporous Products, which was announced in March. [ID:nN10418250]

** Korea Development Bank confirmed talks had ended for now with Lehman Brothers LEH.N over a possible investment because of disagreement over terms and considering financial market conditions. [ID:nSEL000250]

** Japanese dairy goods maker Meiji Dairies Corp 2261.T and chocolate producer Meiji Seika 2202.T are in final stages of merger talks to create a food company with over 1 trillion yen ($9.3 billion) in revenue, public broadcaster NHK said. [ID:nT261783]

** Coca-Cola Co (KO.N) plans to seek approval under China’s antitrust law for its $2.5 billion bid for top domestic juice-maker China Huiyuan Juice Group (1886.HK), the final obstacle to what would be the largest foreign takeover of a local firm, Huiyuan said. [ID:nHKG308628]

** NTT DoCoMo Inc (9437.T) is in talks to buy a stake in India’s Tata Teleservices in a deal that may exceed 100 billion yen ($933 million), company sources said, giving it a foothold in the world’s fastest-growing wireless market. [ID:nT188899]

** Infosys Technologies Ltd (INFY.BO), India’s second-largest software services exporter, said it was confident its bid for Britain’s Axon Group AXO.L would succeed and there was no rival bid on the table at the moment. [ID:nSGC002261]

** Bank holding company Yadkin Valley Financial Corp YAVY.O will acquire American Community Bancshares Inc ACBA.O for about $92 million in a cash and stock deal to expand its presence to South Carolina, the companies said. [ID:nBNG153100]

Compiled by Tina Kwan in Singapore, Aftab Ahmed and Eric Yep in Bangalore

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