(Adds Sherwin-Williams, Netafim, AMCON, Glencore; updates
May 26 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Friday:
** German industrial gases group Linde's
supervisory board is due to meet on Thursday to vote on a merger
agreement with U.S. peer Praxair, two people familiar
with the matter told Reuters.
** Fairfax New Zealand and NZME said they
would appeal New Zealand's competition regulator's decision to
bar their merger in the country's High Court.
** Web.com Group Inc, a U.S. provider of internet
domain name registration that also helps businesses build
websites, is in talks with private equity firms after receiving
takeover approaches, people familiar with the matter said on
** ArcelorMittal, the world's biggest steelmaker,
and Italian industrial group Marcegaglia have won a bid to buy
the troubled Ilva steel plant in southern Italy, a source with
knowledge of the matter said.
** Yancoal Australia said it was not concerned "at
this stage" over the financial strength of its No.2 shareholder
Noble Group, and that its acquisition of Rio Tinto's
coal mines did not hinge on funding from the commodities trader.
** Britain's Spirax-Sarco Engineering Plc said it
had agreed to buy Pittsburgh-based thermal technology company
Chromalox Inc from private equity firm Irving Place Capital for
$415 million on a cash-free, debt-free basis.
** Sainsbury's, Britain's second largest
supermarket group, is in the early stages of examining a
takeover bid for wholesaler Palmer & Harvey (P&H), Sky News
** Australia's top energy retailer Origin has drawn
interest from at least five potential bidders, including China's
Fosun International, for A$2.0 billion ($1.5 billion)
worth of oil and gas assets it aims to spin off, sources said.
** State Bank of India is set to hire Bank of
America-Merrill Lynch, Deutsche Bank, IIFL, JM Financial, Kotak
and SBI Capital to manage a share sale of up to 150 billion
rupees ($2.3 billion), IFR reported, citing two sources with
knowledge of the plan.
** UK hedge fund TCI said aero engine maker Safran's
reduced offer for Zodiac Aerospace was still
too high and it would vote against the deal.
** Taiwan's Cathay Financial Holdings said its two
subsidiaries have completed an agreement to acquire the Malaysia
unit of The Bank of Nova Scotia for $255 million.
** A Hong Kong-China consortium of property developers won
an auction for a plot of land in Hong Kong's New Territories
with a bid of HK$8.33 billion ($1.07 billion), beating market
** State-backed Russian Direct Investment Fund (RDIF) and
China's Fosun International Ltd could announce an
investment in Russia's top gold producer Polyus in
early June, a source familiar with the talks told Reuters.
** International buyout groups and Chinese investment funds
are expected to submit bids for Israeli irrigation firm Netafim,
which could fetch around $1.5 billion, within the next few
weeks, two banking sources said.
** The Asset Management Company of Nigeria (AMCON), the
country's 'bad bank' set up following the banking crisis, is
close to selling Peugeot Automobile Nigeria (PAN) Ltd, a local
car assembly joint venture, to Africa's richest man, Aliko
Dangote, and two Nigerian states.
** Paint-maker Sherwin-Williams has won U.S.
antitrust approval to buy U.S. rival Valspar Corp, the
Federal Trade Commission said.
** Miner and trader Glencore may pay up to $6
billion in cash in a possible tie-up with U.S. grains trader
Bunge based on current valuations, Moody's ratings agency
said, but said it did not expect an outright acquisition.
(Compiled by Gayathree Ganesan and John Benny in Bengaluru)