February 27, 2008 / 10:26 AM / in 11 years

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

(Adds European Energy Exchange, ABN AMRO, and Insurance Brokers of America)

Feb 27 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2100 GMT on Wednesday. (For Reuters columns on deals, click on [DEALTALK/])

** Neither Microsoft Corp (MSFT.O) nor Yahoo Inc YHOO.O wants to blink first in the software giant’s proposed $41.7 billion takeover of the Web pioneer but as the gamesmanship drags on, archrival Google Inc (GOOG.O), the merger’s raison d’etre, is the biggest beneficiary.

To read more, please double click on [nN26387900]

** Sovereign wealth fund Investment Corporation of Dubai (ICD) made a conditional offer for Spain’s Colonial (COL.MC), valuing the struggling real estate firm at some 3 billion euros ($4.5 billion) in cash and paper. [nL2756581]

** Petroplus Holdings AG PPHN.VX said it has reached a $2 billion deal with private equity firms Blackstone Group (BX.N) and First Reserve to buy crude oil refineries in the United States. [nN27615841]

** Electronic Arts Inc ERTS.O isn’t ruling out going hostile with its $2 billion bid for rival video game publisher Take-Two Interactive Software Inc (TTWO.O), the New York Post reported. [nN27410307]

** Liberty Media Corp’s LINTA.O acquisition of News Corp’s NWSa.N stake in DirecTV Group Inc DTV.O received antitrust approval, a day after U.S. communications regulators approved the deal. [nN26382486]

** Pharmion Corp PHRM.O said four major proxy advisory firms endorsed its plan to be bought by Celgene Corp (CELG.O) in a $2.6 billion stock-and-cash deal that was opposed by a major hedge fund stockholder. [nN26359526]

** Citigroup Inc (C.N) has agreed to cooperate in investment banking services with Shanghai Pudong Development Bank (600000.SS), in which the U.S. bank holds a nearly 4 percent stake, the Chinese bank said. [nSHA91234]

** Consumer products company Newell Rubbermaid Inc NWL.N said it would buy Technical Concepts Holdings LLC, a maker of restroom hygiene systems, for $445 million. [nN27416858]

** British logistics firm TDG Plc TDG.L said it had received a 275 pence per share cash offer from private equity firm Laxey Partners, which already owns around 22 percent of its shares. The offer values the company around 225 million pounds ($442.3 million). [nWLB7750]

** RR Donnelley & Sons Co (RRD.N) will buy Pro Line Printing Inc for a total consideration of $122 million. [nWNAS2568]

** Nordic power exchange Nord Pool said it has agreed to sell its entire 17.39 percent stake in German peer, European Energy Exchange AG P1EA.DE (EEX), for 46 million euros ($69.18 million) or 6.60 per share. [nOSO001142]

** Spanish bank Santander (SAN.MC) said it had agreed to buy the Brazilian asset management arm of ABN AMRO AAH.AS from Fortis FOR.BR, which it bought in a three-way break-up of the Dutch bank. [nMDT004924]

** Wells Fargo Insurance Services Inc, a unit of Wells Fargo & Co (WFC.N), the fifth-largest U.S. bank, said it acquired Insurance Brokers of America, based in St. Louis. [nWEN4149]

** Waste Services Inc WSII.O said it agreed to sell its hauling and materials recycling operations and construction and demolition debris landfill at Jacksonville, Florida to Advanced Disposal Services Inc for $57.5 million. [nWNAS2526]

** MainSource Financial Group Inc MSFG.O agreed to buy bank holding company 1st Independence Financial Group Inc FIFG.O for about $37 million in cash and stock to increase its presence in Kentucky. [nBNG51098]

** Cyprus Trading Corp (CTC) CTC.CY said it had signed an agreement to buy stakes in Greek telecom group OTE’s (OTEr.AT) subsidiaries OTENET (Cyprus) and Otenet Telecommunications. CTC will pay 3.99 million euros (US$5.96 million). [nLA369499]

** State-controlled Qatar National Bank QNBK.QA (QNB) said it was in advanced talks to acquire 50 percent of Tunis-based Tunisian-Qatari Bank, which is equally owned by the governments of Qatar and Tunisia. [nL27773470]

** Oil giant BP Plc (BP.L) said it was “quietly” addressing performance flaws with a restructuring that it said should add billions of dollars in profits each year and may lead to the sale of its green energy business. [nL27794106]

** Finnish electronics firm Scanfil SCF1V.HE said its board is proposing to split the firm into an investment company and a subsidiary focusing on electronics contract manufacturing business. [nL27447294]

** Billionaire investor Carl Icahn’s Thornwood Associates offered to sell a portion of the shares it owns in auto-parts maker Federal-Mogul Corp FEMO.PK to investment firm Nineteen Eighty-Nine at the price it had bought them. [nBNG47248]

** Britain’s ArmorGroup International Plc ARMO.L said it was in talks with a number of parties over possible offers for the company. [nWLB7794] (Compiled by Tina Kwan in Singapore, Ratul Ray Chaudhuri and Manish Gupta in Bangalore)

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