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Deals of the day -- mergers and acquisitions

Source : REUTERS
Last Updated: Fri, Oct 05, 2012 18:40 hrs

Oct 3 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Best Buy Co Inc founder Richard Schulze and at least four private equity firms have started examining the books of the world's largest consumer electronics chain, in early steps toward what could become a potential $11 billion buyout, according to people familiar with the matter.

** Deutsche Telekom and MetroPCS said they will merge their U.S. mobile operations to create a larger fourth-place player better able to compete with rivals.

** EU antitrust regulators have set a Nov. 8 deadline to decide on whether to allow trader Glencore's $33 billion takeover of miner Xstrata, after months of talks which the companies hope will help avoid forced sales or a lengthier, in-depth probe.

** Amerigroup Corp said it has delayed a stockholder approval vote on the $4.5 billion sale of the health insurer to WellPoint Inc by two weeks after shareholders sued Amerigroup's board.

** British soft drinks group Britvic and Irn-Bru maker AG Barr have been given more time to decide on the 1.3 billion pound ($2.10 billion) merger.

** Permira Advisers LLP has emerged as the front-runner to take genealogy website Ancestry.com Inc private, two people familiar with the matter said, in a deal that could top $1.5 billion.

** Ocwen Financial Corp strengthened its hold on the residential mortgage servicing market with a $750 million deal to buy Residential Holdings Inc from private equity firm WL Ross & Co.

** BG Group Plc said it agreed to sell its majority stake in western India-based Gujarat Gas Co Ltd for $470 million to a unit owned by India's state-run Gujarat State Petroleum Corp.

** Timeweave Plc, which owns half of a television channel which broadcasts horse racing to betting shops, said it recommended British billionaire Joe Lewis's 50 million pound ($80.69 million) offer for the company.

** Bulgaria has sold the bulk of its 33 percent holding in two newly listed local power distribution companies controlled by Czech power firm Energo-Pro, raising 64.67 million levs ($43 million) in a public share offer.

** French state-owned bank Caisse des Depots et Consignations is close to a deal with partner Veolia Environnement to win control of their Veolia Transdev transport joint venture, two newspapers reported.

** Carlyle Group LP said it had bought a majority stake in a commodities-trading hedge fund manager, its biggest leap yet in an expansion that has seen it diversify from private equity into other alternative asset classes.

** Austrian cellulose fibre maker Lenzing has bought the remaining 25 percent of Czech pulp producer Biocel Paskov it did not already own from Austria's Heinzel Group, it said without disclosing the price.

** A consortium led by private equity firm 3i has kicked off the sale process for its majority stake in French medical-diagnostics company Labco, banking sources said on Wednesday.

** Societe Generale said on Wednesday it had started exclusive talks to sell its loss-making Greek unit Geniki Bank to Greek lender Piraeus Bank SA as it seeks to cut its exposure to the debt-stricken country.




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