February 24, 2009 / 10:28 AM / 10 years ago

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

(Adds Genentech, AIG and others; updates Motorola)

Feb 24 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1000 GMT on Tuesday.

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

** Roche ROG.VX will likely have to up its bid for the 44 percent of Genentech DNA.N it does not already own, analysts said after the U.S. biotech group urged shareholders to reject the offer.

To read more, double-click on [ID:nLO369268]

** American International Group Inc (AIG.N) received bids from MetLife Inc (MET.N) and Axa SA (AXAF.PA) for its American Life Insurance Co unit, Bloomberg reported, citing people familiar with the situation. [ID:nBNG386978]

** Lehman Brothers Holdings Inc LEHMQ.PK will spin off its venture capital arm into an independent firm, the latest move by the bankrupt securities firm to shed assets and raise cash, the Wall Street Journal said. [ID:nBNG400705]

** Commodities trading house Noble Group Ltd (NOBG.SI), the biggest shareholder in Gloucester Coal Ltd GCL.AX, has concerns about Gloucester’s proposed merger with fellow Australian miner Whitehaven Coal Ltd (WHC.AX), Noble said in a statement. [ID:nSYD58265]

** Spain’s Santander (SAN.MC) and utility Union Fenosa UNF.MC have renewed talks to sell their 36 percent stake in oil group Cepsa CEP.MC to Abu Dhabi fund IPIC, Expansion reported, citing unnamed energy- sector sources. [ID:nLO325691]

** French retailer Carrefour (CARR.PA) is seeking to buy Seventh Continent SCON.MM in a deal that would make it the first foreign company to enter the Russian retail market since the credit crunch hit local firms [ID:nLO47714]

** Privately held mobile email provider Visto has agreed to buy rival Good Technology from struggling Motorola Inc MOT.N to expand its offering and grow scale in a market dominated by Research in Motion RIM.TO. [ID:nBNG240842]

** Billionaire investor Carl Icahn raised his stake in independent film and television studio Lions Gate Entertainment Corp LGF.N to 14.28 percent and may add or oust directors from the company’s board, according to a securities filing made on Monday. [ID:nN23365953]

** Boyd Gaming Corp (BYD.N) said it was interested in exploring an acquisition of struggling casino operator Station Casinos [STN.UL], which has said it may file for bankruptcy protection. [ID:nBNG344280]

** Liquidators Hilco Merchant Resources LLC and Gordon Brothers Retail Partners were named as the lead bidder in a bankruptcy auction for U.S. luxury retailer Fortunoff Holdings LLC, according to a person with knowledge of the auction. [ID:nWEN4967]

** Semiconductor company Exar Corp EXAR.O said it agreed to buy Hifn Inc HIFN.O, a provider of data compression and encryption technology, in a deal valued at about $59 million. [ID:nBNG347313]

** UK-based retail and wholesale insurance broking group COBRA Holdings Plc CBRA.L said it agreed to buy Thornway Insurances Ltd, a general-insurance broker, for about 1.1 mln pounds ($1.60 million) in a cash-and-stock deal. [ID:nBNG398351]

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below