March 3, 2008 / 11:08 AM / 11 years ago

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

(Adds Plains Exploration, Exxon Mobil and others)

March 3 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2100 GMT on Monday. (For Reuters columns on deals, click on [DEALTALK/])

** Australian miner Oxiana Ltd OXR.AX launched an agreed A$6 billion ($5.7 billion) takeover offer for Zinifex Ltd ZFX.AX, looking to diversify to benefit from booming global minerals demand.

To read more, please double click on [ID:nSYD321341]

** Microsoft (MSFT.O) still considers its takeover offer for Yahoo YHOO.O, currently valued at about $42 billion, to be reasonable despite Yahoo’s rejection of the bid, Microsoft’s chief executive said. [nL03041151]

** German sports car maker Porsche (PSHG_p.DE) will inrcease its 31 percent voting stake in Volkswagen (VOWG.DE) to a majority but does not intend to merge the two carmakers, Porsche said. [nL03699182]

** Volkswagen (VOWG.DE) will take majority control of Swedish truckmaker Scania SCVb.ST in a $4 billion deal that brings it a major step closer to its goal of creating Europe’s truck market leader. [nL0320413]

** Russian miner and steel maker Mechel OAO is in preliminary talks to acquire Oriel Resources Plc OLR.L (ORL.TO), a $1.2 billion London-listed company with chrome assets in Russia and Kazakhstan. [nL03383971]

** British bank Barclays (BARC.L) said it had agreed to buy Russia’s Expobank for 373 million pounds ($745 million), as part of its strategy to expand in emerging markets. [nWLB8006]

** Malaysian energy services firm KNM Group (KNMP.KL) plans to acquire German engineering firm Borsig BBetv for 1.67 billion ringgit ($522 million), KNM said. [nWNA4718]

** U.S. private equity firm Cerberus Capital Management [CBS.UL] will pay up to $416 million to raise its stake in Japan’s Aozora Bank Ltd (8304.T) to nearly 46 percent, a little more than a month after the midsize lender cut its earnings outlook on subprime losses. [nT134657]

** India’s cabinet allowed Oil and Natural Gas Corp (ONGC.BO) to acquire a 40 percent stake in the San Cristobal oilfield in Venezuela for $356 million. [nDEL253565]

** Plains Exploration & Production Co PXP.N said it agreed to buy oil and gas producing properties in South Texas from a private company for $335 million, and raised its 2008 average sales volume outlook to reflect the deal. [nBNG251440]

** Brazil’s state-run oil and gas company Petrobras (PETR4.SA)(PBR.N) confirmed in a market statement that it was in talks with U.S. Exxon Mobil Corp (XOM.N) to buy its local distribution assets known by the name Esso. [nN03349202]

** Energy and information services company IHS Inc IHS.N said it bought a 50 percent stake in peer Lloyd’s Register-Fairplay through the acquisition of Prime Publications Ltd for 38 million pounds or about $75.5 million. [nWNAS3320]

** L’Oreal (OREP.PA) will get full control of Club des Createurs de Beaute, as it agreed to buy the 50 percent stake held by 3 Suisses International for an undisclosed amount, the French cosmetics group said. [nL03852377]

** Footwear retailers Genesco Inc (GCO.N) and Finish Line Inc FINL.O said they were terminating their merger plans and the financing commitment of Swiss bank UBS AG UBSN.VX. [nN03351296]

** Troika Dialog, Russia’s No.2 investment bank, plans to buy Kazakh brokerage Almex Asset Management which is partly owned by the Kazakh president’s daughter, the two companies said. [nL0368114]

** Acer Inc (2353.TW), Taiwan’s largest PC vendor, will acquire PDA and portable device maker Eten Information System Co Ltd 2432.TW in a share swap worth T$9 billion ($290 million), the two companies said. [nTP176635]

** Jain Irrigation Systems Ltd (JAIR.BO) said it has acquired 69.75 percent stake in Switzerland’s Thomas Maachines S.A., with full management and operational control. [nBMB001085]

** Navigation device maker Garmin Ltd (GRMN.O) said it signed letters of intent to acquire its distributors in Belgium, Luxembourg and Finland as it seeks to increase its presence in Europe. [nWNAS3240]

** U.S. based private investment firm Colony Capital LLC’s deal to buy a controlling stake in Libya’s European refiner Tamoil is off, the Libyan Investment Authority (LIA) chairman said. [nL03310998]

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