Market Chatter-Corporate finance press digest

Wed Dec 19, 2012 9:52am IST

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Coal Mining In The Punjab

Coal Mining In The Punjab

In Choa Saidan Shah miners dig coal with crude pick axes and load it onto donkeys to be transported to the surface earning a team of 4 workers around $10 to be split between them.  Slideshow 

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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