Deals du jour

July 13, 2009

Suntory and Kirin consider joining forces to create one of the world’s biggest beer and soft drinks companies, with annual sales of $41 billion. Meanwhile Friends Provident and Venture Production are both fending off unwanted approaches. For all the latest deals news, click here.

And here’s the latest dose of market chatter:

* McGraw-Hill has hired Evercore Partners Inc, a top U.S. merger advisory boutique to sell BusinessWeek magazine, Bloomberg said, citing a person close to the situation.

* Bank of America Corp is trying to avoid paying billions of dollars in fees to U.S. taxpayers for guarantees against losses at Merrill Lynch, saying the rescue agreement was never signed and the funding never used, Bloomberg said, citing people familiar with the matter.

* British Airways is ready to accept close to a 50-50 ownership deal for a merger with Iberia, Spanish newspaper El Economista said, citing sources close to the talks.

* A private equity fund launched by the former chief of India’s ICICI Venture plans to raise about $500 million, the Economic Times newspaper said.

* Microsoft Corp is pitching to five of the world’s biggest advertising companies a deal to buy Razorfish, its digital ad agency, the Wall Street Journal said on Sunday, citing executives familiar with the situation.

* State-owned National Aviation Co of India Ltd (Nacil), which operates Air India, is raising about $1 billion from JPMorgan Chase & Co to fund its fleet expansion programme, Indian newspaper the Mint said.

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see