Market Chatter-Corporate finance press digest

Last Updated: Wed, Apr 10, 2013 06:10 hrs

April 10 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:

* Thermo Fisher Scientific Inc made a binding offer for Life Technologies Corp on Tuesday as private equity firms raced to finalise a consortium to take the genetic testing equipment maker private, several people familiar with the matter told Reuters.

* Spanish banking group La Caixa is looking to sell a package of 12,000 properties for more than 1.5 billion euros ($2 billion), in what would be a rare large-scale disposal of housing assets held by lenders, a source with knowledge of the talks said.

* China's Baoshan Iron and Steel (Baosteel) is in talks with Russian steel and coking coal producer Mechel to buy a 25 percent stake valued at up to $1.25 billion in the latter's mining division, Vedomosti newspaper reported on Wednesday.

* Canada's Manulife Financial Corp and the Indian affiliate of Standard Life plc are among the suitors to place first-round bids for HSBC Plc's Indian life insurance business, a stake valued at about $200 million, people familiar with the matter told Reuters.

* India's Tata Steel Ltd is considering selling some of its U.K. assets, Bloomberg reported, citing two people with knowledge of the matter. ()

* U.S. private equity firm KKR & Co LP has agreed to buy a controlling stake in Indian tyre maker Alliance Tire Group for about $500 million from Warburg Pincus LLC, three sources with direct knowledge of the matter told Reuters.

More from Sify: