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