BHP Billiton will buy U.S. gas producer Petrohawk Energy for $12.1 billion, ramping up its bets on the booming but environmentally controversial shale gas industry. The FT also takes a look at the deal.

Carl Icahn offered to buy Clorox in a $10.2 billion deal, but also invited the household products maker to solicit rival bids, which he said would yield much higher offers for the company.

Integrated energy company ConocoPhillips said it would split its businesses into two stand-alone, publicly traded corporations by spinning off its refining and marketing business.

Borders Group’s buyout deal with private equity firm Najafi Companies collapsed, raising the possibility that the bankrupt bookseller could be forced to liquidate its remaining stores and go out of business.

News Corp will withdraw its bid for British broadcaster BSkyB, the company said. Breakingviews columnist Chris Hughes writes James Murdoch should stage his own tactical retreat and resign from News Corporation.

Medical device maker Kinetic Concepts said it would go private in a nearly $5 billion cash deal with a consortium of private equity firm Apax Partners and two Canadian pension firms.

The award of a much-delayed mining permit that will turn European Goldfields into Europe’s largest primary gold producer could also make it a prime takeover target, in a sector where players are scrambling for growth.

Peabody Energy and ArcelorMittal are likely to succeed with their $5 billion takeover offer for Macarthur Coal, investors bet on Tuesday, driving up shares in the world’s biggest producer of pulverized coal by 37 percent.

Britain was looking for a way out of approving media baron Rupert Murdoch’s multi-billion dollar deal to buy broadcaster BSkyB amid a phone-hacking scandal that has damaged the prime minister and raised broader questions about politicians’ relations with the media.

American International Group plans to replace one or more Wall Street banks in its next sale of shares from the U.S. government, the WSJ reported on Sunday. AIG Chief Executive Robert Benmosche told the newspaper he was disappointed in the bank’s efforts to drum up interest in the previous offering.

The NYSE moved closer to ceding control to a German company after investors threw their support behind a $9.4 billion takeover by Deutsche Boerse. Now the deal’s fate lies across the Atlantic, where the transaction requires approval from 75 percent of Deutsche Boerse shareholders by Wednesday of next week and then must survive a thorny European Commission antitrust review that could run through the rest of the year.

Charter International, a UK-based industrial tools maker which last week rejected a $2 billion approach, is likely to be targeted by U.S. rivals attracted by the prospect of its welding tools business, the world’s second-largest.

Berkshire Hathaway has joined the group bidding for Citigroup’s consumer lending unit OneMain, formerly known as CitiFinancial, the Wall Street Journal said, citing people familiar with the matter.

South Korea’s shipping-to-shipbuilding group STX Corp  said it may bid for a 15 percent stake in Hynix Semiconductor, reviving hopes for a $2.4 billion deal after Hyundai Heavy Industries dropped its bid plan.

Pipeline operator Energy Transfer Equity  sweetened its deal for rival Southern Union 21 percent to about $5 billion, as it works to muscle out a competing offer from Williams Companies.

China’s Bright Food Group said it was not in discussions to buy any Australian wine assets, denying a media report that it was in internal talks on bidding for Australia’s Treasury Wine Estates.

If private equity firms had their way, Hewlett-Packard would look less like a monolithic tanker and more like a small fleet of streamlined schooners, reports Nadia Damouni and Poornima Gupta.

Borse Dubai owns nearly 21 percent of LSE stock and the Qataris hold 15.1 percent, Thomson Reuters data shows, making the investors easily the largest shareholders in the London exchange and key decision-makers in its future.

The London Stock Exchange, which plans a shareholder vote on its $3.5 billion merger with Canada’s TMX Group on Thursday, could become a target itself if the deal fails, analysts said.

BJ’s Wholesale Club agreed to be bought by private equity firms Leonard Green & Partners and CVC Capital Partners for $2.8 billion in cash, an offer price that shows there is a modest appetite for retail deals.