March 4, 2009 / 10:24 AM / in 10 years

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

(Adds Magellan, Distrigas, Dune and others; updates Rio Tinto)

March 4 (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/]

** Major investors in Rio Tinto (RIO.AX) (RIO.L) have firmly rejected company claims that shareholders are warming to the miner’s proposed $19.5 billion tie-up with China’s top aluminium maker Chinalco.

To read more, please double-click on [ID:nSYD382339]

** Refined petroleum products distributor Magellan Midstream Partners LP (MMP.N) said it will acquire its holding company Magellan Midstream Holdings LP MGG.N in an all-stock deal valued at about $1.14 billion to simplify its capital structure and manage costs. [ID:nBNG442157]

** Royal Bank of Scotland (RBS.L) said it was considering selling most of its banking businesses in China, part of plans to exit Asia following its ill-fated purchase of ABN AMRO. [ID:nSHA35202]

** Mitsubishi Corp (8058.T) is planning to buy a stake of 34 percent in the solar power unit of Spanish contractor Acciona SA (ANA.MC), the financial daily Nikkei said in its Thursday edition. [ID:nN0456793]

** U.S. Hartford Financial Services Group Inc (HIG.N) is in talks to sell most of its life insurance unit to Canadian Sun Life Financial Inc (SLF.TO), Bloomberg reported, citing three people with knowledge of the matter. [ID:nL468593]

** Personal-care products maker Helen of Troy Ltd (HELE.O) agreed to buy Procter & Gamble Co’s (PG.N) Infusium 23 hair-care business for an undisclosed amount. [ID:nBNG489806]

** J Sainsbury (SBRY.L), Britain’s third-biggest supermarket group, said it has bought 24 stores from smaller rival the Co-operative Group for 83 million pounds ($117 million). [ID:nL4871610]

** Private Greek carrier Aegean Airlines (AGNr.AT) submitted a surprise offer to buy ailing state carrier Olympic Airlines [OLY.UL], to rival a previous bid from Marfin Investment Group (MIG) (MRFr.AT). [ID:nL413290]

** South Africa’s Tiger Brands (TBSJ.J) has scrapped its 8 billion rand ($762.7 million) plan to buy consumer goods rival AVI (AVIJ.J), due to worsening market conditions and unsuccessful talks with AVI managers. [ID:nL4510055]

** Israeli flavours and fine ingredients maker Frutarom Industries Ltd FRUT.TA FRUTq.L said it agreed to acquire the U.S. company Flavors Specialties Inc (FSI) for $17.2 million. [ID:nL4522256]

** South Africa’s fourth-biggest bank Nedbank (NEDJ.J) said it is in talks to buy Old Mutual Group’s OMLJ.J OML.L interests in certain joint ventures in exchange for its shares. [ID:nL4703130]

** Belgian municipal holding company Publigas has decided to sell its remaining stake in Distrigas DISTy.BR to Italy’s ENI (ENI.MI) and seek a majority in Fluxys DIST.BR, Publigas’s chairman said on Wednesday. [ID:nL4894086]

** Footwear specialist Dune has bought the bulk of The Shoe Studio out of administration, saving 1,660 jobs, Deloitte said on Wednesday. [ID:nL4901502] (Compiled by Tina Kwan in Singapore; R. Manikandan and Archana Shankar in Bangalore)

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