October 15, 2008 / 9:48 AM / 11 years ago

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

(Adds Aon, Bristol-Myers)

Oct 15 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1330 GMT on Wednesday. (For Reuters columns on deals, click on [DEALTALK\] )

** Aon Corp AOC.N said it agreed to sell its Auto Insurance Specialist Management Group unit to auto and home insurer Mercury Insurance Group (MCY.N) for $120 million in cash as part of its restructuring plans. [ID:nBNG23240]

** GlaxoSmithKline Plc (GSK.L) is buying the Egyptian mature products business of Bristol-Myers Squibb Co (BMY.N) for $210 million, to extend the British drug company’s recent expansion into emerging markets. [ID:nLF3604]

** Piraeus Bank (BOPr.AT), Greece’s fourth-largest lender, said it will offer to buy all of Proton Bank’s PRBr.AT shares at the same share-swap ratio offered to Proton’s main shareholders. [ID:nLF692796]

** U.S. private equity firm Ripplewood Holdings and a Russian investor have made bids for South Korean appliance and TV maker Daewoo Electronics, put up for sale for the third time, a leading creditor for Daewoo said. [nSEO248860]

** Australian property developer Stockland Group (SGP.AX) is set to own up to 13 percent of FKP Properties FKP.AX and get first rights on a takeover of FKP’s retirement villages, aiming to expand in the fast growing sector. [nSYD401088]

Compiled by Tina Kwan in Singapore and Mary Meyase in Bangalore

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