April 3 (Reuters) - The following corporate finance-related
stories were reported by media on Wednesday:
* Thermo Fisher Scientific Inc is emerging as the
lead contender in an auction for Life Technologies Corp
, a genetic testing maker with a market value of more
than $11 billion, three people familiar with the matter said
* At least three of the world's top drugmakers, Pfizer Inc
, Novartis AG and Abbott Laboratories,
are bidding for Brazil's Ache Laboratorios Farmaceuticos in an
auction that may value the group at more than $5 billion, people
familiar with the matter said.
* Rio Tinto is seeking a buyer for
controlling stakes in two Australian coal mines, the latest $1
billion-plus asset sale targeted by the mining company as it
looks to cut costs and boost shareholder returns, the Wall
Street Journal reported, citing people familiar with the matter.
* The findings of an investigation into the 2008 failure of
HBOS Plc, due to be published by the UK Parliamentary
Commission on Banking Standards, will reveal a failed bank with
poor governance and weak credit risk controls, the Financial
Times reported, citing people familiar with the report who said
the total cost of bailing out the bank rose to close to 30
billion pounds ($45.4 billion). ()
* Royal Bank of Scotland Group Plc is preparing to
appoint Finance Director Bruce van Saun as head of its U.S. arm
Citizens ahead of its stock market listing, a person familiar
with the matter said.
* Richard Branson's Virgin Atlantic is preparing to
hold detailed talks about a joint venture with Air France KLM SA
and Alitalia that would allow the UK
airline to offer more flights to Asia, the Middle East and
Africa, the Financial Times reported. ()
* China National Petroleum Corp and Malaysia's
Petronas are considering bids for Marathon Oil Corp's
stakes in two Angolan offshore oil and gas fields, people
familiar with the matter told Reuters.
* Banco do Brasil SA is on the lookout for
takeover targets in the United States to provide more banking
services to a growing Brazilian community in the world's No. 1
economy, a source with knowledge of the matter said on Tuesday.
* Columbus, Ohio-based Nationwide Financial and New
York-based Reich & Tang Asset Management LLC are buying
UnionBanCal Corp's mutual fund business, three sources told
Reuters on Tuesday.