September 17, 2008 / 9:38 AM / 11 years ago

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

(Updates HBOS, Lehman and Biovail, adds Alitalia and Kit Finance)

Sept 17 (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\] )

** British bank Lloyds TSB (LLOY.L) is in advanced talks to buy rival HBOS Plc HBOS.L to create a 24 billion pound ($43 billion) mortgage giant as the credit crunch forces more troubled banks into the arms of better-funded rivals. [ID:nLH437309]

** British bank Barclays Plc (BARC.L), after striking a $1.75 billion deal to purchase Lehman Brothers’ LEH.N LEH.P core U.S. business, said it could buy some Lehman businesses in Europe or Asia and agreed to provide bankruptcy financing to the troubled investment bank. [ID:nLH589059]

** An investor group offering to rescue state-controlled airline Alitalia AZPIa.MI from bankruptcy has threatened to withdraw if its proposal does not get union approval, a union source said. [ID:nLH468433]

** U.S. flash memory maker SanDisk Corp SNDK.O rejected a near-$6 billion offer from global market leader Samsung Electronics Co Ltd (005930.KS), but said it would not rule out a deal at a better price. [ID:nN16292606]

** U.S. investment bank Morgan Stanley (MS.N) is weighing whether it should remain independent or merge with a bank, given the recent turbulence in the company’s share price, broadcaster CNBC reported.[ID:nSP359278]

** U.S. authorities engineered an $85 billion rescue of insurance giant American International Group Inc (AIG.N), staving off bankruptcy and bringing a measure of calm to shell-shocked global markets. [ID:nHKG21387]

** Biovail Corp BVF.TO moved forward with its plan to shift its focus to treatments for the central nervous system, announcing it will buy privately held drugmaker Prestwick Pharmaceuticals. [ID:nN17498672]

** Russian brokerage Kit Finance said it was in the final stages of talks to sell a controlling stake to asset management company Leader with the support of state-controlled banks Gazprombank and VTB. [ID:nLH384724]

** Ferrovial’s (FER.MC) British airports operator BAA said it is putting its Gatwick airport in London up for sale — but vowed to fight to retain the rest of its portfolio. [ID:nLH661974]

** Philip Morris International (PM.N) said that it succeeded in its tender offer to acquire Canada’s No. 2 cigarette maker Rothmans Inc ROC.TO. [ID:nN17525793] (Compiled by Tina Kwan in Singapore, Aftab Ahmed and Amiteshwar Singh in Bangalore)

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