October 28, 2008 / 8:03 PM / 10 years ago

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

(Updates Huntsman, adds GM, Porshe and others)

Oct 28 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Tuesday.

(For Reuters columns on deals, click on [DEALTALK/])

** General Motors Corp (GM.N) has asked the U.S. government for roughly $10 billion in an unprecedented rescue package to support its acquisition of Chrysler LLC from Cerberus Capital Management [CBS.UL], sources familiar with the talks said. To read more, please double click on [ID:nN27356776]

** A leading Republican lawmaker asked the Justice Department to “thoroughly investigate” antitrust and privacy issues in a search advertising partnership planned by Google Inc (GOOG.O) and Yahoo Inc YHOO.O. [ID:nN28416010]

** British gas producer BG Group Plc BG.L launched a A$5.6 billion ($3.4 billion) friendly takeover bid for Australia’s Queensland Gas Co Ltd QGC.AX (QGC), its latest effort to boost its position in Asia’s fast-growing natural gas market. [ID:nSYD360849]

** The $6.5 billion leveraged buyout of chemical company Huntsman Corp (HUN.N) hit another speed bump after private equity firm Apollo Management said the two banks set to finance the deal planned to pull out. [ID:nN28372215]

** Victoria Oil & Gas Plc (VOG.L) said it paid about $400,000 for an option to buy Cypriot oil explorer Falcon Petroleum Ltd, which has substantial exploration prospects in Ethiopia and Mali. [ID:nBNG348035]

** Intel Capital, the investment arm of Intel Corp (INTC.O), announced three investments in Chinese companies, including its first moves into the nation’s clean technology sector. [ID:nPEK90217]

** Shareholders of Telefonica Chile CTCa.SN cleared the way for an improved bid by parent Spain’s Telefonica SA (TEF.MC) to gain sole control of its local affiliate. [ID:nN28349129]

** Broadcom Corp BRCM.O has bought Advanced Micro Devices Inc’s AMD.N digital television chip business for a lower price of $141.5 million because the unit was generating less revenue than expected. [ID:nN28378172]

** Billionaire investor Kirk Kerkorian has reduced his stake in Ford Motor Co (F.N) to 4.89 percent over the past week, his investment company Tracinda Corp said. [ID:nN28385078]

** Shares of Apria Healthcare Group Inc AHG.N soared 45 percent after the home health-care services company said its acquisition by the Blackstone Group (BX.N), would close Tuesday, putting to rest fears that the deal may not go through. [ID:nBNG140506]

** Canada’s Clearwater Seafoods Income Fund CLR_u.TO said it ended a deal with CS Acquisition Ltd for taking the company private as the parties failed to arrange financing from Iceland’s Glitnir Bank that was nationalized amid the financial crisis. [ID:nBNG392922]

** Borealis Infrastructure Management Inc said it will cut its takeover offer for Teranet Income Fund TF_u.TO by nearly 7 percent as market conditions have deteriorated and the cost of capital has risen. [ID:nN28383770]

** Russian gas export monopoly Gazprom (GAZP.MM) has signalled it will exercise its option to buy the stake in Gazpromneft SNNGI.RTS which Italian oil major ENI (ENI.MI) owns, Eni Chief Executive Paolo Scaroni said. [ID:nLS521447]

** Rio Tinto (RIO.L) Chief Executive Tom Albanese said that current market conditions do not affect the company’s rejection of a takeover offer by rival BHP Billiton BLT.L. [ID:nN28404267]

** Mid-market private equity group Duke Street said it has completed the acquisition of French medical diagnostics firm Biomnis for 217 million euros ($271.5 million). [ID:nLS474636]

** Kazakhstan’s no. 2 bank Kazkommertsbank (KKB) KKGByq.L, and no. 3 player Halyk Bank (HSBKq.L) will each sell a 25 percent stake to the state, the government’s press service said. [ID:nLS543453]

** Sweden’s financial watchdog said Porsche (PSHG_p.DE) would be required under Swedish takeover rules to make an offer for Scania SCVb.ST if it raised its stake in Volkswagen (VOWG.DE) above 50 percent. [ID:nLS463957]

** An Italian investor group planning to buy Alitalia agreed to make a binding offer for the bankrupt airline’s best assets by a Friday deadline but said the bid was conditional on winning union and EU backing. [ID:nLS201242] (Compiled by Tina Kwan in Singapore; Aftab Ahmed and Santosh Nadgir in Bangalore)

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