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Deals of the day -- mergers and acquisitions

Source : REUTERS
Last Updated: Thu, Dec 20, 2012 19:20 hrs

Dec 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** General Motors Co said it will buy back 200 million of its shares from the U.S. Treasury and the government plans to sell its remaining stake within 15 months, all but assuring a multibillion dollar loss.

Chief Financial Officer Dan Ammann said GM will pay $5.5 billion, or $27.50 a share, for the Treasury stake in a deal expected to close by year end.

** General Electric is set to sign on Thursday a deal to buy Italian aerospace supplier Avio excluding its space division, sources close to the talks said.

"GE is expected to buy the non-space assets," one of the sources said. The deal is expected to be worth around 3 billion euros ($4 billion), sources close to the situation told Reuters this week.

** Australian bank Macquarie has bought a stake in Czech gas grids owned by Germany's No.2 utility RWE, adding to its European infrastructure portfolio as it hunts for stable returns.

** Australia's Macquarie Group Ltd has emerged as the lead bidder to buy Robeco, four people familiar with the matter said this week. The asset management arm of Dutch bank Rabobank NV could fetch around 3 billion euros ($3.96 billion), one of the sources said.

** Chinese display-advertising provider Focus Media Holding Ltd said on Wednesday it agreed to be bought by a consortium of private equity funds led by Carlyle Group for about $3.6 billion.

** Specialty insurer Markel Corp said it will buy Alterra Capital Holdings Ltd for about $3 billion in cash and stock to diversify into reinsurance.

** Knight Capital Group Inc, which was nearly brought down by a trading error in August, said it will be acquired by rival electronic trading firm Getco Holdings Co in a cash-and-stock deal that the companies valued at $1.4 billion.

** A Turkish consortium put in a top bid of $1.23 billion to buy a power grid supplying the country's third-largest city, helping Ankara's drive to liberalise energy markets and reviving its flagging privatisation schedule.

** German utility E.ON is to sell a majority stake in its waste-burning unit to private equity firm EQT, as it nears the end of a 15 billion euros ($20 billion) asset disposal drive to cut debt.

** Commercial property owner Citycon and a Canadian pension fund plan to buy a shopping centre in Stockholm for 526 million euros ($695 million), a move that will help the Finnish company expand in Sweden.

** A fresh $556 million offer for Billabong International found little favor with investors as the stock dived 13 percent on concern the Australian surfwear firm's latest profit warning might lead the suitor to lower or even withdraw the bid.

** Greenbrier Cos Inc rejected a $543 million bid from activist investor Carl Icahn's American Railcar Industries Inc, saying the offer is not good enough, and expressed interest in buying American Railcar instead.

** Eastman Kodak Co agreed to sell its digital imaging patents for about $525 million, a key step to bringing the photography pioneer out of bankruptcy in the first half of 2013.

** The London Stock Exchange has cut its offer for LCH.Clearnet by almost a third to 312 million euros ($413.7 million), to reflect rising capital requirements, sources familiar with the matter said on Wednesday.

** British oil major BP Plc said it would sell its 34.3 percent stake in the Yacheng gas field in the South China Sea to Kuwait Foreign Petroleum Exploration Co (KUFPEC) for $308 million in cash.

** Russian freight firm Globaltrans Investment is to buy rail freight operator MMK-Trans for $225 million in cash, the latest in a series of deals in an industry opening up to competition.

** Britain's Spectris Plc said it signed an agreement to sell its Fusion UV business to Germany-based Heraeus Holding GmbH for $172 million.

** Taiwan's Investment Commission approved China's investment of $135 million to take a 30 percent stake in a container terminal operated by Yang Ming Marine Transport Corp , the first port investment across the Taiwan Strait.

** Sberbank, Russia's top lender, will buy Yandex.Dengi, an online payment service owned by Russian search engine Yandex, for $60 million, the companies said in a joint statement on Wednesday.

** Video game maker THQ Inc said Wednesday it filed for bankruptcy, and private investment firm Clearlake Capital Group has offered to buy its assets.

** Luxembourg said it had taken back a stake in freight-only airline Cargolux from Qatar Airways with the intention of selling it soon.

** Belgian visual technology company Barco said it acquired a majority stake in a Norwegian projection technology firm to help it push deeper into the mid-sized segment of the projection market.

** Romania postponed the sale of minority stakes in several state-controlled companies, as agreed with the International Monetary Fund, by a year to end-2013, the government said on Wednesday.

** The U.S. Federal Trade Commission on Tuesday said it would seek to block a proposed $330 million purchase of PLX Technology Inc by Integrated Device Technology Inc , saying the combined firm would have a near-monopoly on certain computer components.

** Rocky Mountain Chocolate Factory Inc on Wednesday listed "numerous issues" with a supposed takeover offer from PST Capital Group Ltd, indicating the bid was likely bogus.

** Dassault Aviation's outgoing chief executive on Wednesday dismissed recent speculation of a grand merger of French aerospace and defence companies.




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