Reuters: Mergers News: Deals of the day -- mergers and acquisitions

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Deals of the day -- mergers and acquisitions Apr 3rd 2012, 09:43 April 3 | Tue Apr 3, 2012 5:43am EDT April 3 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0900 GMT on Tuesday. ** Dubai builder Arabtec shares jumped to their highest in a month after Abu Dhabi investment firm Aabar doubled its stake to 10.45 percent. Aabar Investments, which scrapped a $1.7 billion deal to take a majority stake in Arabtec two years ago, has raised its holding in the builder, according to a filing on the Dubai stock exchange on Tuesday. ** San Miguel Corp will make its first foray into the transportation sector by taking an indirect stake in Philippine Airlines Inc (PAL), the company said, as it looks to continue its expansion away from its traditional food and drink business. San Miguel is set to acquire an indirect stake in flag carrier PAL by buying 49 percent of its parent, PAL Holdings, company president Ramon Ang said on Tuesday. Sources with knowledge of the deal, which has been expected in some form for a few months and would be worth around 21.7 billion pesos ($508 million) based on Monday's closing price, said an announcement may come after a meeting on Tuesday. ** British oil explorer Cairn Energy has agreed to buy Agora Oil & Gas for $450 million to increase its drilling in Britain and Norway in 2012 and expand its lower risk, near-term exploration assets. ** Lloyd's of London insurer Omega said one of three would-be buyers it turned away last year has come back with a reduced approach valuing it at about 160 million pounds ($256.23 million). ** Israeli energy and insurance conglomerate Delek Group said it would receive a $150 million loan from UBS and was examining the sale of its 50 percent stake in desalination firm IDE Technologies. ** Italy's biggest commercial broadcaster Mediaset said on Tuesday it had sold its stake in Dutch television production company Endemol, exiting the creator of "Big Brother" after a debt restructuring handed control of the company to creditors. Mediaset, which in March had to slash its traditionally generous dividend to conserve resources in a difficult year, declined to disclose the value of the deal which Italian daily Il Sole 24 Ore said was 72 million euros ($96 million). ** Flagstone Reinsurance Holdings SA said on Monday, it would sell Island Heritage for about $68 million in cash. ** Halma PLC said it acquired the trade and assets of Sensorex Inc for $37.5 million, and bought Accutome Inc for $20 million. ** Sunbelt Rentals Inc, a unit of Ashtead Group PLC, said it bought Topp Construction Services Inc and its related company, Precision Steel Works LLC for $33.5 million. ** Siemens AG said it has access to 80.69 percent of IBS AG shares. ** Private equity firm Longreach Group has hired Morgan Stanley to explore the sale of its majority stake in Taiwanese lender EnTie Commercial Bank Ltd, a source familiar with the matter told Reuters. ** Global Infrastructure Partners (GIP), the owner of London's Gatwick and City airports, and a JP Morgan-led consortium are to fight each other for control of Edinburgh Airport and are set to submit final bids next week, sources close to the process said. ** CME Group Inc said it acquired Greenx Holdings LLC, and said it will migrate GreenX contracts and open interest to CME Group's portfolio of products. ** Russia's Magnitogorsk Iron & Steel Works said on Tuesday that a Chelyabinsk court had issued an injunction to block its purchase of Australia's Flinders mines following a shareholder lawsuit. ** Dutch bicycle-maker Accell said on Tuesday it is in exclusive talks with Raleigh Cycle Limited and its shareholders to acquire the famous British bike brand. ** The head of Austrian savings bank Steiermaerkische Sparkasse said he was interested in buying some Balkan assets from nationalized lender Hypo Alpe Adria, a newspaper reported. ** DCC PLC said it would sell Altimate Group to Arrow Electronics Inc for E48.1 million, of which E41.0 million is payable in cash on completion. ** London Stock Exchange boss Xavier Rolet is set to pass a crucial test of his leadership on Tuesday when shareholders back the takeover of clearing house LCH.Clearnet, his first major deal. ** ICAP Corporates has bought New York-based cotton options broker VIP Commodities, beating out bids from three other firms, as part of an expansion of its softs business, it said on Monday. Link this Share this Digg this Email Reprints

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