Deals of the day -- mergers and acquisitions

Source : REUTERS
Last Updated: Fri, Sep 07, 2012 04:23 hrs

Sept 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:

** The Hartford Financial Services Group Inc on Tuesday said it would sell its retirement plans business to life insurer MassMutual for $400 million cash, part of The Hartford's plan to shed assets and focus on its property insurance business.

** Kirby Corp, the largest U.S. inland tank barge operator, will buy the assets of Allied Transportation Co for $116 million as it looks to grow the petrochemical segment of its offshore operations.

** South Korean rechargeable battery maker Samsung SDI Co Ltd said on Wednesday it would pay $95 million to buy its German partner's 50 percent stake in electric battery maker SB LiMotive Co Ltd, ending a joint venture formed in 2008 with Robert Bosch GmbH.

** 3M Co said it is not dropping the purchase of Avery Dennison Corp's office products groups, in response to the U.S. Justice Department's statement on Tuesday that the company is abandoning the plan following threats of a civil lawsuit by antitrust authorities.

** British luxury jewellery designer Theo Fennell Plc , whose customers include celebrities such as Victoria Beckham and Helen Mirren, confirmed it was in preliminary takeover talks with EME Capital LLP.

** Private equity fund Mid Europa Partners (MEP) plans to sell healthcare group Lux Med by the end of the year after building it up into one of Poland's top providers of medical services, one of the fund's partners told Reuters.

** British soft drinks maker Britvic Plc confirmed it was in preliminary merger talks with smaller rival AG Barr Plc and said an agreement had been reached on certain deal terms.




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