March 15 The following corporate finance-related stories were reported by media on Friday:
* Malaysia's Khazanah Nasional Bhd is seeking to buy General Electric's $1.8 billion stake in Bank of Ayudhya (BAY), sources familiar with the matter said, pitting it against Japanese banking giant Mitsubishi UFJ Financial Group (MUFG).
* International Business Machines Corp and EMC Corp are among parties in talks to buy privately held database web hosting company SoftLayer Technologies Inc, in a deal that could fetch over $2 billion, three sources close to the matter said.
* Glencore International Plc, the world's largest diversified commodities trader, is considering the sale of Australia's largest malt producer, Joe White Maltings, a source familiar with the matter said on Thursday.
* McKee Foods Corp is set to acquire Hostess Brands Inc's Drake's snack cake business for $27.5 million after no other qualified bids were submitted, according to a source close to the matter.
* Indian state-owned explorers Oil and Natural Gas Corp Ltd (ONGC) and Oil India Ltd have made a joint first-round bid for a 20 percent stake in a Mozambique oil and gas field being offered by U.S. explorer Anadarko Petroleum Corp and India's Videocon Group, a source directly involved in the matter told Reuters.
* DirecTV, the largest U.S. satellite television provider has decided to end its pursuit of Vivendi's GVT, complicating the sale of the Brazilian telecommunications operator, a DirecTV spokesman confirmed on Thursday.
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Punjab National Bank, India's fourth-biggest state-run lender by assets, reported on Tuesday its fiscal third-quarter profit fell 93 percent as provisions for bad loans jumped. Its shares fell more than 6 percent after the results. Full Article