November 14, 2008 / 10:04 AM / 10 years ago

UPDATE 2-Deals of the day -- mergers and acquisitions

(Adds Gladstone, Qadirpur gas field; updates Dexia)

Nov 14 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, North American and Asian companies were reported by 2100 GMT on Friday. (For Reuters columns on deals, click on [DEALTALK/] )

** Bank of America (BAC.N) is likely to raise its stake in China Construction Bank (0939.HK) soon, paying about 2.46 yuan ($0.36) a share, or 1.2 times the Chinese lender’s book value, Caijing magazine reported, citing unidentified sources.

To read more, please double click on [ID:nSHA274185]

** Shares in Dexia (DEXI.BR)DEXI.PA fell sharply after the Belgian-French financial services group said it had agreed the sale of its troubled U.S. bond insurance subsidiary and launched a cost-saving drive following a heavy third-quarter loss. [ID:nLE742831]

** British software provider Gladstone Plc GLAD.L reiterated its rejection of a hostile takeover bid from Constellation Software Inc (CSU.TO), saying the offer does not reflect its full value. [nLD694333]

** Tea and plastic container maker Gillanders Arbuthnot & Co Ltd (GIAR.BO) said its board has approved merging Tengpani Tea Co Ltd with itself. [ID:nBOM421262]

** The Pakistani government said the privatisation of 37 percent of the state’s stake in the Qadirpur gas field will be placed on hold until parliament agrees to the sale. [ID:nSIN357950] (Compiled by Tina Kwan in Singapore, Kuganandhan Paramanandan and Vidya L Nathan in Bangalore)

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