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Deals of the day -- mergers and acquisitions

Source : REUTERS
Last Updated: Fri, Aug 24, 2012 19:40 hrs

Aug 24 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S., Canadian and Asian companies were reported by 1330 GMT on Friday:

** Glencore International Plc's proposed $30 billion takeover of Xstrata Plc came a step closer to collapse on Friday, as the commodities trader looked set to let slide an informal deadline for it to raise its offer and yield to rival shareholder Qatar Holding.

** European private equity firm Permira is buying Japan's largest sushi restaurant chain, Akindo Sushiro Co Ltd, for $1 billion including debt, in what is set to be the nation's second-biggest buyout deal this year.

** Japan's Olympus Corp said it will sell its mobile telecom business for 53 billion yen ($676 million) to an investment fund, as the cash-strapped medical equipment and camera maker tries to rebuild from a massive accounting fraud.

** Private equity firms American Securities LLC, Apollo Global Management LLC, and Linamar Corp, have submitted bids for U.S. auto parts supplier Metaldyne on Thursday, in a deal valued between $800 million and $900 million, according to several people familiar with the matter.

** Eastman Kodak Co said on Thursday it plans to sell most of its consumer and document imaging businesses and shift its focus to commercial printing as it works to emerge from bankruptcy.

** BP Plc is considering selling its majority stake in a Brazilian offshore oil field it operates, after its productive potential fell short of expectations, newspaper Valor Economico reported on Friday.

** Larsen & Toubro Ltd, India's biggest engineering conglomerate, plans to sell a stake in its wholly owned infrastructure unit within the next two months, chairman A.M. Naik said at the company's annual shareholders' meeting.

** Italian real estate management company Prelios SpA expects to receive two non-binding offers for a stake in the business by Aug. 25, a source familiar with the situation said.

** Private equity firms including Bain Capital LLC and American Securities LLC are preparing bids for Apex Tool Group, a joint venture between Danaher Corp and Cooper Industries Plc, according to three people familiar with the matter.

** Activist investor Corvex Management is urging Ralcorp Holdings Inc to either sell itself, buy another company, or change its strategy nearly a year after the food company rejected a takeover offer from ConAgra Foods Inc.

** Russia's UC RUSAL, the world's largest aluminium producer, said Guinean unions' demands for its Friguia plant deal to be annulled have no legal merit and promised to protect its ownership rights.

** Visa Inc invested about 2.1 million pounds ($3.3 million) in British technology company Monitise Plc through the purchase of 7.6 million shares.

Visa Europe also agreed to buy 45.3 million Monitise shares, which would take its stake in the British mobile banking technology and services company to 10.2 percent and make it the largest shareholder.

** Hedge Fund manager William Ackman on Thursday said mall operator General Growth Properties should put itself up for sale and noted that at least one potential bidder would value it at 51 percent above its current share price.

** Irish airline Aer Lingus renewed a call to its shareholders to reject Ryanair's latest takeover bid, saying its budget rival had failed to provide any new information on its offer.



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