Do More With Reuters
Partner Services

UPDATE 3-Deals of the day -- mergers and acquisitions

Fri Aug 29, 2008 1:39am IST
 
Email | Print | | Single Page
[-] Text [+]

** Tech Mahindra Ltd (TEML.BO: Quote, Profile, Research) said it would acquire a minority stake in European systems integrator, Servista, for an undisclosed sum and would be the latter's delivery arm for three years. [ID:nBOM310146]

** Shares of copier and printer maker Ricoh Co Ltd (7752.T: Quote, Profile, Research) jumped nearly 4 percent on its $1.6 billion acquisition of U.S. distributor Ikon Office Solutions IKN.N, while rival Canon Inc (7751.T: Quote, Profile, Research) slid to a four-month low on concerns the deal would hurt its business. [ID:nT20623]

** Shares in LG Electronics Inc's (066570.KS: Quote, Profile, Research) parts making units, LG Innotek Co Ltd (011070.KS: Quote, Profile, Research) and LG Micron Ltd (016990.KQ: Quote, Profile, Research), rose after the companies said they were considering a merger. [ID:nSEO69206]

** HSBC HSBC.L said it will raise its stake in Vietnam bank Techcombank to 20 percent from 14.4 percent in a deal worth roughly $77.1 million. [ID:nHKG39633]

** Arcelor Mittal (MT.N: Quote, Profile, Research)(ISPA.AS: Quote, Profile, Research) plans to form a joint venture with Hunan Valin Iron and Steel Group that will require total investment of 6.5 billion yuan ($951 million), Valin Steel Tube & Wire Co 000932.SZ said. [ID:nSHA43401]

** Shares in RSA Insurance (RSA.L: Quote, Profile, Research) surged 5.4 percent by midday on Thursday as traders cited renewed market talk of bid interest from Zurich Financial Services (ZURN.VX: Quote, Profile, Research). [ID:nLS540279]

** CITIC International Financial Holdings Ltd 0183.HK (CIFH) said its major shareholder, CITIC Group, had sweetened its offer to privatise the Hong Kong-listed company, boosting the cash portion by 48 percent. [ID:nHKG35556]

** A consortium of Turkey's Dogan Yayin Holding (DYHOL.IS: Quote, Profile, Research), Italy's Lottomatica (LTO.MI: Quote, Profile, Research) and Snai (SNAI.MI: Quote, Profile, Research) made the best bid in the first round of a tender to operate the Turkish sports betting company Iddaa, the tender commission chairman said. [ID:nIST002310]  Continued...

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
Pledge to support economies

G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.  Full Article | Related Story 

special coverage

Photo
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.  Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Sanjay Sinha
Balancing Act

In India, it is a tough choice between growth, managing inflation and financial stability.  Full Article 

 
Nipun Mehta
Road to Recovery

There needs to be an acceptable balance created between education and healthcare and infrastructure spend, says Nipun Mehta of SG Private Banking.   Full Article 

 
Robot Asimo

Snapshots of Honda Motor's humanoid robot Asimo  Slideshow 

 
Marketing Strategy
Marketing Strategy

Companies are now using direct marketing methods to sell their products.  Full Article 

 
Exit Plans
Exit Plans

Factbox - Stimulus exit plans for Asia-Pacific's big 5 economies  Full Article