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TMCNet: M&A Navigator: Deal pipeline - 11 Mar

[March 12, 2010]

M&A Navigator: Deal pipeline - 11 Mar

(M&A Navigator Via Acquire Media NewsEdge) The following is a list a of deals covered in detail by M&A Navigator this week: - FRENCH SCHRUB BUYS WELDING EQUIPMENT MAKER FTS French non-ferrous metal alloys specialist Schrub has acquired home welding equipment producer FTS.


Status: Closed - FRENCH JACQUET METALS, IMS UNVEIL MERGER ACCORD French metal-cutting and steel distribution group Jacquet Metals (EPA:JCQ) and metal products distributor International Metal Service (EPA:IMS) announced an agreement to tie up their operations.

Status: Agreed - DUTCH MEDIQ BUYS DANISH OPCO Dutch drug distributor Mediq (AMS:MEDIQ) announced the acquisition of Danish Opco, which provides medical supplies to general practitioners and specialists.

Status: Closed - DEXIA TO SELL ENTIRE STAKE IN ASSURED GUARANTY Franco-Belgian bank Dexia (EBR:DEXB) said it would sell its entire stake of 10.9% in Bermuda's financial holding company Assured Guaranty (NYSE:AGO).

Status: Auction - EG SOLUTIONS BUYS SECTOR FIRM XTAQ UK software developer EG Solutions (LON:EGS) said it has acquired sector firm XTAQ for up to GBP233,333 (USD349,397/EUR256,110).

Status: Closed - PSYCHIATRIC SOLUTIONS SAYS APPROCAHED BY THIRD PARTIES US healthcare service provider Psychiatric Solutions (NASDAQ:PSYS) said it has been approached by unnamed suitors over its potential acquisition.

Status: Talks - NELSON PELTZ MAY LAUNCH OFFER TO BUY US CKE RESTAURANTS The owner of US restaurant chain Wendy's/Arby's Group (NYSE:WEN), Nelson Peltz, is mulling over the launch of a takeover bid for quick-service restaurant chain operator CKE Restaurants (NYSE:CKR).

Status: Bidding; Speculation - EDGE EHR INKS DEAL TO BUY GOAL SOFTWARE US software company Edge EHR Corp announced an agreement to buy home sector firm Goal Software, without disclosing financial details.

Status: Agreed - UK AVISEN TO ACQUIRE XPLOITE FOR GBP11.38M UK performance management firm Avisen (LON:AVI) said it has inked an all-stock deal to buy home IT firm Xploite (LON:XPT) for GBP11.38m (USD17m/EUR12.5m).

Status: Agreed - UK TULLETT PREBON IN TALKS ABOUT POTENTIAL SALE UK inter-dealer broker Tullett Prebon (LON:TLPR) unveiled preliminary talks about a potential sale of the company.

Status: Talks - ABU DHABI'S MUBADALA DEVELOPMENT CO TAKES 9% OF RAINE Abu Dhabi's state-owned investment firm Mubadala Development Company said it has acquired a 9% stake in US investment bank The Raine Group, which operates in New York, Los Angeles and Beijing.

Status: Closed - GERMAN PUMA TO BUY US GOLF BRAND COBRA FROM ACUSHNE German sports goods maker Puma (ETR:PUM) said it has signed an agreement with US golf goods maker Acushnet to acquire its golf brand Cobra, including its inventories and sponsor contracts.

Status: Agreed - SANOFI-AVENTIS FINALISES US CHATTEM TAKEOVER French drug maker Sanofi-Aventis (EPA:SAN) said it has closed the takeover of US healthcare products and dietary supplements maker Chattem (NASDAQ:CHTT).

Status: Closed - BUSINESS SOFTWARE MAKER CA INKS USD350M DEAL TO BUY NIMSOFT US business software maker CA (NASDAQ:CA) said it has agreed to buy home privately-held Nimsoft for USD350m (EUR256.6m) in cash in a move to beef up its position among small and mid-cap enterprises.

Status: Agreed - US DAKOTA GROWERS TO BE ACQUIRED BY VITERRA US management investment group MVC Capital (NYSE:MVC) said that its portfolio company Dakota Growers Pasta (OTC:DKGW) has agreed to be acquired by Canadian agri-business firm Viterra (TSX:VT).

Status: Agreed - US LHC GROUP TO BUY SALEM HOSPITAL HOME CARE US healthcare service provider LHC Group (NASDAQ:LHCG) said it has inked a deal to buy the assets of Oregon-based Salem Hospital Home Care for an undisclosed price.

Status: Agreed - DUTCH CTAC TO BUY MAJORITY IN SAP SOFTWARE SUPPLIER Dutch ICT services provider Ctac (AMS:CTAC) said it has agreed to buy a 60% stake in home single assessment process (SAP) software supplier Meridian IT.

Status: Agreed - US ADVENT SOFTWARE BUYS NORWEGIAN GOYA US company Advent Software (NASDAQ:ADVS) said it has acquired privately held Norwegian software provider Goya for an undisclosed price.

Status: Closed - BP BUYS DEVON BRAZILIAN, AZERI, GULF OF MEXICO ASSETS FOR USD7BN Britain's oil major BP (LON:BP) said it has agreed to acquire the assets of US oil and gas producer Devon Energy (NYSE:DVN) in Brazil, Azerbaijan and the Gulf of Mexico for USD7bn (EUR5.1bn).

Status: Agreed - US OAKTREE CAPITAL TO TAKE 86.5% OF GERMAN ALMATIS US investor Oaktree Capital Management is looking to take over German alumina maker Almatis, under the company's USD1bn (EUR733m) debt restructuring plan.

Status: Talks; Speculation - SONANGOL WILLING TO BUY ENI'S STAKE IN GALP Angolan state-run oil group Sonangol is keen on acquiring the 33.34% stake of Italian sector player Eni (BIT:ENI) in Portuguese Galp Energia (ELI:GALP).

Status: Bidding; Speculation - MEDNAX ACQUIRES NEONATAL PRACTICE IN MARYLAND US newborn, maternal-fetal and pediatric service provider Mednax (NYSE:MD) said it has acquired a neonatal physician group practice in Maryland, Maryland Perinatal Associates PC, for an undisclosed sum.

Status: Closed - LEN BLAVATNIK WANTS 15% OF LYONDELLBASELL Businessman Len Blavatnik wants to buy up to 15% in Dutch-based petrochemical maker LyondellBasell when the company exits bankruptcy protection.

Status: Agreed; Speculation - US BAIN CAPITAL IN ADVANCED TALKS ON PSYCHIATRIC SOLUTIONS ACQUISITION US private equity firm Bain Capital is negotiating the acquisition of US behavioral healthcare specialist Psychiatric Solutions (NASDAQ:PSYS).

Status: Talks - RUSSIAN SURGUT CHIEF SAYS NO PLANS TO SELL MOL STAKE Vladimir Bogdanov, the chief of Russian oil and gas company Surgutneftegaz (MCX:SNGS), told reporters that his company was not interested in selling its stake in Hungarian oil and gas group MOL (BDP:MOL).

Status: Denied - ROCHE DIAGNOSTICS BUYS ASSETS FROM BIOMICRO SYSTEMS Roche Diagnostics, a unit of Swiss pharmaceuticals group Roche (VTX:ROG), has acquired assets of BioMicro Systems related to the Roche NimbleGen microarray workflow.

Status: Closed - ORMAT TECHNOLOGIES COMPLETES BUY OF HOT SULPHUR SPRINGS US geothermal power company Ormat Technologies (NYSE:ORA) said that its wholly owned subsidiary, Ormat Nevada Inc, has wrapped up the purchase of the entire membership interest in Hot Sulphur Springs II LLC (HSS) for an undisclosed price.

Status: Closed - LGT PRIVATBANK PURSUING ACQUISITIONS IN AUSTRIA Liechtenstein's private bank LGT Privatbank is seeking acquisition targets in Austria.

Status: Bidding - SPANISH BANKS CAIXA SABADELL, TERRASSA, MANLLEU GO AHEAD WITH MERGER, ASK LESS AID Spanish savings banks Caixa Sabadell, Terrassa and Manlleu will continue their merger project, after partner, Caixa Girona, decided to withdraw, and will lower to EUR350m (USD478m) the aid to be requested from bank restructuring fund FROB.

Status: Agreed - MERCKLE REJECTS OFFERS FOR PHOENIX, WANTS TO KEEP IT Ludwig Merckle, the owner of drug maker Ratiopharm and drug wholesaler Phoenix, had rejected offers for Phoenix, despite creditors suggestion to sell.

Status: Terminated - US WILLBROS TO BUY INFRASTRUX US oil and gas contractor Willbros Group (NYSE:WG) said it has entered an agreement to buy InfrastruX Group, a supplier of electric power and natural gas transmission and distribution infrastructure services.

Status: Agreed - YARA BOARD TO MEET TODAY OVER TERRA BID The board of Norwegian fertiliser maker Yara International (OSL:YAR) will meet to decide whether to increase its all-cash USD4.1bn (EUR) offer for US rival Terra Industries (NYSE:TRA).

Status: Bidding - US CARLYLE ENDS TALKS OVER UK SHANKS TAKEOVER US buyout firm Carlyle announced that it has ended talks on the acquisition of UK waste management company Shanks (LON:SKS) and has no current plans to make a new offer.

Status: Terminated - UK 3I SAID EYEING CONNAUGHT UK private equity firm 3i (LON:III) might be looking to take over home support services group Connaught (LON:CNT).

Status: Speculation - RUSSIAN RAILWAYS SEEKS BUYERS FOR TRANSTELECOM STAKE State-run Russian Railways has contacted several investment banks over a plan to sell a stake in its telecommunications unit TransTeleCom.

Status: Speculation - SCOTIABANK'S UNIT TO TAKE 48% IN THAILAND'S SIAM CITY BANK Thanachart Bank, in which Canadian Scotiabank (TSE:BNS) owns 49%, announced it has agreed to buy nearly 48% of Siam City Bank (BAK:SCIB) in Thailand from the local Central Bank.

Status: Agreed - ITALIAN DELLA VALLE INCREASES US SAKS STAKE TO 7.1% Italian entrepreneur Diego Della Valle has raised his shareholding in US fashion retail company Saks (NYSE:SKS) to 7.1% from 5.9%.

Status: Closed - US TEREX TO SELL ATLAS UNIT IN GERMANY US industrial conglomerate Terex (NYSE:TEX) said it will offload its German heavy construction equipment unit Terex Atlas.

Status: Agreed - CONNAUGHT GETS NO OFFER FROM 3I UK support services group Connaught (LON:CNT) has not been approached by private equity firm 3i (LON:III) with a takeover offer.

Status: Denied; Speculation - JAPANESE NOMURA CONFIRMS ADVISING RED KNIGHTS BID FOR MANCHESTER UNITED FC Japanese investment bank Nomura (TYO:8604) said in a statement it had agreed to advise the Red Knights, a group of London financiers looking to wrestle control of UK's top premier league football club Manchester United from its US owners, the Glazers.

Status: Bidding - INVESTMENT FUND LFPI IN EXCLUSIVE DISCUSSIONS TO BUY FRENCH AURENIS Investment fund LFPI is in exclusive negotiations to acquire French publishing house Aurenis.

Status: Exclusivity; Speculation - TAIWAN TO RULE ON AIG'S NAN SHAN SALE BY END-JUNE Taiwan's government said it would announce its decision on the planned acquisition of the Taiwan's unit of US insurer AIG (NYSE:AIG) by a Hong Kong consortium by the end of June.

Status: Agreed - TRANS GLOBAL GROUP TO BUY FULL SPECTRUM MEDIA US-based Trans Global Group (PINK:TGGI) said it has sealed a letter of intent (LoI) with shell company American Life Holding Co (OTC:ALFE) to buy Florida-based marketing solutions provider Full Spectrum Media (FSM) in an all-stock deal.

Status: Exclusivity - CROATIA'S AGROKOR BIDS TO BUY OUT VUPIK Croatia's privately-held group Agrokor has initiated a buyout bid for cereal farming specialist Vupik (ZSE:VPIK-R-A) at HRK23.98 (USD4.5/EUR3.3) per share.

Status: Bidding - ECKERT & ZIEGLER, SMI EXTEND IBT OFFER PERIOD TO 17 MARCH German medical equipment makers Eckert & Ziegler (ETR:EUZ) and SMI Steglitz Medinvest, key shareholders of Belgian cancer treatment specialist International Brachytherapy (EBR:IBT) said they would extend to 17 March the period for their mandatory offer for IBt.

Status: Bidding - CHERKIZOVO TO BUY TWO PORK PLANTS IN RUSSIA Russian meat processing company Cherkizovo Group (LON:CHE) announced it would acquire control in two pork plants for USD100m (EUR74m), of which USD20m in cash.

Status: Exclusivity - CHINESE GEELY FINDS FINANCIAL BACKING FOR VOLVO BID Zhejiang Geely Holding, or ZGH, the parent of Chinese carmaker Geely (HKG:0175), has procured the money it needed to buy Swedish brand Volvo from US Ford (NYSE:F).

Status: Bidding - UK INVESTOR MELROSE EYES ACQUISITIONS IN 2010 UK manufacturing investor Melrose (LON:MRO) will concentrate this year on making acquisitions.

Status: Bidding - CAJA ESPANA CONSIDERS SALE OF ITS 5.16% STAKE IN EBRO PULEVA Spanish savings bank Caja Espana is considering the divestment of its 5.16% stake in home food group Ebro Puleva (MCE:EVA).

Status: Auction; Speculation - DEXIA DISPOSES OF STAKE IN ASSURED GUARANTY Belgium-based lender Dexia (EBR:DEXB) said it is selling most of its stake in Bermuda's financial holding company Assured Guaranty (NYSE:AGO), acquired when Dexia divested from its US bond insurer FSA.

Status: Auction - MGM ANTICIPATED TO ATTRACT SIX BIDDERS BY 19 MARCH Six suitors are expected to submit bids for Hollywood studio Metro-Goldwyn-Mayer by the newly-set deadline on 19 March.

Status: Speculation; Bidding - DUTCH TKH SEEKS ACQUISITIONS IN SECURITY SYSTEMS SECTOR Dutch cable maker TKH Group (AMS:TWEKA) is looking for potential acquisitions to boost its security systems operations.

Status: Bidding - HARGREAVES PROPOSES DEEP MINES MERGER TO UK COAL UK coal miner Hargreaves Services (LON:HSP) has contacted UK Coal (LON:UKC) with a proposal to merge their deep mines operations.

Status: Bidding - LONE STAR TO RESUME KOREA EXCHANGE BANK STAKE SALE US private equity firm Lone Star intends to restart the divestment of its 51% interest in Korea Exchange Bank (SEO:004940), or KEB, which is valued at KRW4.4trn (USD3.9bn/EUR2.9bn) at current market prices.

Status: Auction - UK BARCLAYS TARGETS US RETAIL BANK, BUYS IN WESTERN EUROPE UK banking group Barclays (LON:BARC) is looking to buy a retail bank in the US to enhance its presence in the country.

Status: Bidding - ITALIAN SINTONIA EYES ENERGY ACQUISITIONS Sintonia, the Benetton family's investment company, is looking to make acquisitions in the energy sector.

Status: Bidding - TANFIELD SAYS RECEIVES OFFER FOR SMITH ELECTRIC VEHICLES UNIT British engineering group Tanfield (LON:TAN) said it has received a conditional non-binding GBP-37-million (USD55.4m/EUR40.7m) offer for its Smith Electric Vehicle division from Smith Electric Vehicles US (SEVUS).

Status: Exclusivity - UK CARD FACTORY GETS UP TO GBP400M BIDS FROM BUYOUT FIRMS A number of buyout firms have placed offers of up to GBP400m (USD599m/EUR440.5m) for UK greetings card retailer Card Factory, as they are looking for acquisitions in the sector.

Status: Bidding - CARLYLE HIRES GOLDMAN SACHS FOR ARINC SALE US private equity firm Carlyle has mandated Goldman Sachs (NYSE:GS) to sell aerospace and defence company Arinc.

Status: Speculation - GLANBIA IN TALKS WITH SHAREHOLDER ON POTENTIAL DISPOSAL Irish nutritional and dairy group Glanbia (ISE:GL9) said that its shareholder Glanbia Co-operative Society is interested in the acquisition of its Irish dairy operations, Irish property business, business services and related Irish joint ventures and associates.

Status: Talks - REED'S TO BUY JONES SODA IN CASH-AND-STOCK DEAL US beverage maker Reed's (NASDAQ:REED) said it signed a letter of intent to buy soda producer Jones Soda (NASDAQ:JSDA) in a cash-and-stock deal.

Status: Exclusivity - US ORTHOPAEDIC SYNERGY IS BUYING FRENCH PRAXIM US reconstructive orthopedic devices manufacturer Orthopaedic Synergy announced it had signed a letter of intend to buy French Praxim, for an undisclosed sum.

Status: Exclusivity - GREEN MOUNTAIN EXTENDS TENDER OFFER FOR DIEDRICH UNTIL 5 APRIL US coffee roaster Green Mountain (NASDAQ:GMCR) has extended its USD35 (EUR26) per share cash tender offer for peer Diedrich Coffee (NASDAQ:DDRX) until 5 April.

Status: Bidding - STANDARD LIFE HIRES ADVISOR TO WEIGH SALE OF HEALTH INSURANCE UNIT Scotland-based pensions and insurance group Standard Life (LON:SL) hired UK advisor Fenchurch Advisory Partners to evaluate options for its health insurance unit, Standard Life Healthcare, including a sale.

Status: Auction - RUSSIA'S SBERBANK UNDECIDED ON BID FOR GE'S GARANTI STAKE Russian state-owned bank Sberbank (RTC:SBER) has not yet decided whether to bid for the 20.85% stake in Turkish bank Garanti (IST:GARAN) put up for sale by US diversified group General Electric (NYSE:GE).

Status: Bidding - RED KNIGHTS WANT JAPAN'S NOMURA TO ADVISE ON BID FOR MANCHESTER UNITED FC Red Knights, the London group of financiers looking to take over UK's top premier league football club Manchester United, have talked to Japanese investment bank Nomura (TYO:8604) over the possibility of hiring it as corporate adviser on the bid.

Status: Bidding - THREE BREWERIES INTERESTED IN SERBIA'S BIP Three unnamed foreign breweries have expressed interest in the acquisition of a controlling stake in struggling Serbian brewer Beogradska Industrija Piva (BEL:BIPB), or BIP.

Status: Auction - CHEVRON TO SELL DOWNSTREAM OPS, INCLUDING UK PEMBROKE REFINERY US oil group Chevron (NYSE:CVX) plans to dispose of some of its downstream assets, including the Pembroke refinery in the UK, and cut some 2,000 jobs this year.

Status: Auction - SWEDISH HEMTEX TO OFFLOAD NORWEGIAN BUSINESS Swedish household textile goods retailer Hemtex (STO:HEMX) has decided to offload its business in Norway, comprising 10 stores.

Status: Auction - EC EXTENDS TO 29 MARCH REVIEW OF CISCO/TANDBERG DEAL The European Commission (EC) has decided to extend by 10 business days to 29 March its probe into the acquisition of Norwegian video-conferencing solutions provider Tandberg (OSL:TAA) by US networking specialist Cisco Systems (NASDAQ:CSCO).

Status: Exclusivity - F&C TO OFFER EUR12.50 P/S TO AUSTRIAN C-QUADRAT Britain's investor and asset manager F&C Asset Management (LON:FCAM) said it would offer to acquire Austria-based investment fund C-Quadrat (ETR:C8I) for EUR12.50 (USD16.98) per share after the Austrian Takeover Commission has lifted the ban on potential bids.

Status: Talks; Bidding - TURKISH BUSINESSMAN ALPHAN MANAS TO UNVEIL ON FRIDAY PLANS FOR FRENCH HEULIEZ Turkish businessman Alphan Manas will announce its decision regarding the acquisition of French struggling motor-vehicle equipment maker Heuliez on Friday.

Status: Talks - HILL & SMITH INTERESTED IN RENEWABLES, UTILITIES ACQUISITIONS UK infrastructure group Hill & Smith (LON:HILS) is planning to invest in acquisitions in the renewable energy and utilities sectors as it succeeded in boosting cash flow and cutting debt in 2009.

Status: Bidding - DEUTSCHE TELEKOM NEGOTIATES CLICKANDBUY TAKEOVER Germany's telecom major Deutsche Telekom (ETR:DTE) is in talks over the acquisition of Internet payment services provider Clickandbuy.

Status: Talks - RUSSIAN TNK-BP TO SELL GAS FIELD STAKE TO GAZPROM Russian oil company TNK-BP (RTB:TNBP) wants to sell its interest in Kovykta natural gas field to gas major Gazprom (MCX:GAZP).

Status: Auction - DUTCH WESSANEN RIGHTS ISSUE TO BACK POTENTIAL ACQUISITIONS The successfully completed share issue of Dutch food firm Royal Wessanen (AMS:WES) will help the company make acquisitions.

Status: Bidding - US MARSH & MCLENNAN PUTS UP KROLL FOR SALE US insurance broker Marsh & McLennan (NYSE:MMC) has offered for sale its security consulting unit Kroll for USD1.3bn (EUR955m).

Status: Auction; Speculation - UK'S DFS EXPECTS FINAL BIDS BY 17 MARCH Graham Kirkham may strike a deal to sell his UK sofa retailer DFS for more than GBP500m (USD751.3m/EUR552m) next week, as final bids are expected by 17 March.

Status: Bidding - LYONDELLBASELL REJECTS INDIAN RELIANCE'S TAKEOVER BID Bankrupt Dutch petrochemicals company LyondellBasel has rejected the takeover bid of Indian energy giant Reliance Industries (BOM:500325) and filed a restructuring plan instead.

Status: Terminated - UK'S ARK THERAPEUTICS CONSIDERS TAKEOVER OFFERS, WITHDRAWS CEREPRO APPLICATION The board of UK drug maker Ark Therapeutics (LON:AKT) announced it had abandoned plans to sell brain cancer treatment Cerepro in Europe, and was reviewing options for the company, including a sale.

Status: Talks - DUTCH ARCADIS TO KEEP FOCUS ON ACQUISITIONS Dutch engineering consultancy Arcadis (AMS:ARCAD) said it would continue exploring takeover opportunities after the acquisition of US sector firm Malcolm Pirnie in 2009.

Status: Bidding - BELGIAN NPM/CNP TO OFFLOAD ICE CREAM UNIT Belgian holding company NPM/CNP will put up for sale its unit Belgian Icecream Group (BIG).

Status: Auction - HBOS INTEGRATED FINANCE MAY BE SOLD THIS WEEK TO COLLER CAPITAL Global private equity firm Coller Capital is leading the race for HBOS Integrated Finance, the last investment asset of UK bank HBOS, and a deal may be struck this week.

Status: Speculation; Bidding - UK'S PEEL IN TALKS TO SELL AIRPORTS UNIT TO FUND BID FOR FORTH PORTS UK diversified group Peel wants to sell a stake in its airports unit, Peel Airports, to finance a joint-offer for home ports operator Forth Ports (LON:FPT).

Status: Talks; Bidding - GERMANY'S MERCK EYES FURTHER BUYS - CEO German pharmaceuticals and chemicals company Merck (ETR:MRK) is looking to make further buys after agreeing in February to acquire US life science researcher Millipore (NYSE:MIL).

Status: Bidding - BANK OF SHARJAH, BNP IN TALKS ON PRIVATE BANKING JV UAE's Bank of Sharjah (ABD:BOS) is negotiating to team up with French lender BNP Paribas (EPA:BNP) in a joint venture which would offer private banking services in the Middle East.

Status: Talks - SHELL, PETROCHINA PLACE JOINT BID FOR ARROW ENERGY Royal Dutch Shell (AMS:RDSA, LON:RDSA) and PetroChina (SHA:601857) have made a joint bid, worth at least USD3bn (EUR2.2bn), to buy Australian Arrow Energy (ASX:AOE).

Status: Bidding; Talks - INDIAN ESSAR SAID TO BUY TRINITY COAL Indian steel maker Essar is in talks to buy US coal producer Trinity Coal from private equity firm Denham Capital for between USD550m (EUR402.2m) and USD600m, seeking to further expand its diversified business.

Status: Talks - DUTCH VASTNED RETAIL CLOSE TO BUY TWO PROPERTIES IN TURKEY Dutch real-estate firm VastNed Retail (AMS:VASTN) is nearing a deal to buy two retail properties in Turkey.

Status: Talks - UK BIFFA PLANS SALE OF LANDFILL GAS OPS UK waste management company Biffa has intentions to sell its landfill gas operations for a targeted price of some GBP350m (USD530.5m/EUR387.9m).

Status: Auction; Speculation - SANTANDER, BBVA KEEN ON BUYING GE'S 20.8% STAKE IN TURKISH GARANTI Spanish commercial banks Santander (MCE:SAN) and BBVA (MCE:BBVA) are among the bidders for the 20.8% stake of General Electric (NYSE:GE) in Turkish Garanti Bank (IST:GARAN).

Status: Bidding - FINMECCANICA TO PICK A BUYER FOR MINORITY IN ANSALDO ENERGIA SOON Italian aerospace and defence group Finmeccanica (BIT:FNC) will announce the name of the buyer of a minority stake in Ansaldo Energia in a month and a half at the latest.

Status: Talks - DAIMLER OFFERS FOR SALE 5.34% OF TATA MOTORS FOR USD429M German carmaker Daimler (ETR:DAI) is selling 5.34% in Indian sector company Tata Motors (BOM:500570) at a discount of 4% to 7% to the Monday price.

Status: Auction - SCOTLAND'S RANGERS FC CONFIRMS TAKEOVER OFFER TALKS Scotland's premier league football club the Rangers (LON:RFC) confirmed that its main shareholder Murray International Holdings is in talks to sell its stake in the club and that the discussions may lead to an offer for the entire club.

Status: Talks - UK COVENTRY, STROUD & SWINDON CONFIRM MERGER TALKS The boards of UK building societies Coventry (LON:CVB) and Stroud & Swindon confirmed media reports that they were in merger talks, adding that there was no guarantee at this point that a deal would be sealed.

Status: Talks - ANGLO AMERICAN GETS STRONG INTEREST FOR ZINC OPS UK-based miner Anglo American (LON:AAL) said its zinc operations attracted strong interest, but declined to confirm home rival Vedanta Resources (LON:VED) and Canadian miner HudBay Minerals (TSE:HBM) as the two bidders leading the race.

Status: Bidding - GREECE'S MARFIN INVESTMENT NEGOTIATES SALE OF BAKERY, SNACK OPS Greek investment holding Marfin Investment Group (ATH:MIG) confirmed it was in talks on the sale of its bakery and snack unit with Saudi Arabia's Olayan Group in partnership with Greek businessman Spyros Theodoropoulos.

Status: Talks ((Comments on this story may be sent to tww.feedback@m2.com)) (c) 2010 M2 COMMUNICATIONS

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