Market Chatter-Corporate finance press digest

Wed Dec 19, 2012 9:52am IST

Stocks

   

Dec 19 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:

* Pfizer Inc plans to cut about 20 percent of its sales force for primary-care drugs, Bloomberg News reported, as the pharmaceutical company copes with the loss of a patent for top-selling cholesterol drug Lipitor.

* United Parcel Service Inc has offered more concessions in a bid to win EU regulatory approval for its 5.2 billion euro ($6.87 billion) bid for TNT Express, two people familiar with the matter said.

* Industrial machinery maker SPX Corp is closing in on a roughly $4.2 billion deal to buy rival Gardner Denver Inc , as it makes progress in securing financing, a source familiar with the matter said.

* Getco Holding Company LLC will buy Knight Capital Group Inc for about $2 billion after sweetening its offer for the equities market-making firm to beat out rival Virtu Financial LLC, people close to the deal said.

* French state bank Caisse des Depots has teamed up with Abu Dhabi investment fund ADIA to form a powerful consortium to bid for Total SA's TIGF gas network business, sources said.

* BIDV, Vietnam's largest partly private lender by assets, has delayed its domestic share listing because of difficulties in financial markets and a stock market slump, the Vietnam Economic Times newspaper reported.

* India Infrastructure Finance Co Ltd said it will launch a $1 billion infrastructure debt fund, for which final approval from market regulator SEBI is expected soon, the Indian Express reported citing the Press Trust of India.

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