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

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Deals of the day -- mergers and acquisitions Jun 6th 2012, 13:48 Wed Jun 6, 2012 9:48am EDT June 6 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1330 GMT on Wednesday: ** Germany's Merck KGaA and India's Dr. Reddy's Laboratories Ltd have struck a deal to develop cheap versions of biotech cancer drugs, seeking to tap into a new market as patents on biotech medicines expire. ** Italian insurer Unipol intends to press ahead with plans to merge with Fondiaria-SAI but will not accept certain conditions proposed by its troubled peer, as it takes time to iron out a deal that would create Italy's No. 2 insurer. ** Calumet Specialty Products LP will buy privately held Royal Purple Inc for about $335 million to bulk up its lubricants offering. ** Halcon Resources Corp said it would buy an operated interest in oil and gas leases in East Texas in a deal valued at $377.8 million, as it looks to beef up its portfolio of oil and gas assets. ** RSA, Britain's biggest commercial insurer, has agreed to buy L'Union Canadienne, the No. 3 general insurance player in the Canadian province of Quebec, for 94 million pounds ($144.48 million). ** Rupert Murdoch's News Corp has bought out Walt Disney Co's 50 percent stake in Asian joint venture ESPN STAR Sports (ESS) for an undisclosed sum, the two companies said on Wednesday, ending a 16-year partnership in the region. ** British military equipment maker Chemring said it would sell its marine interests to Drew Marine for 32 million pounds ($49.19 million) to help it cut debt, buy back shares and fund pension liabilities. Link this Share this Digg this Email Reprints

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