Deals du Jour

July 23, 2009

Dutch bank ING has hired JPMorgan to advise on the sale of ING’s private banking business in Europe and Asia, which could fetch over $1 billion, sources tell Reuters.

The sale of the units may may take a few months and could draw interest from global and Asian players, one source with knowledge of the deal said.

In other deals reported by Reuters and other media: will pay about $928 million for booming online shoe retailer, expanding aggressively into the apparel arena with a well-known name after trying unsuccessfully to go it alone.

U.S. drugmaker Bristol-Myers Squibb said it will pay $2.4 billion to acquire Medarex, a biotechnology company that has been helping it develop a promising treatment for melanoma since 2005.

British bus and train operator National Express said it was approached by an unnamed suitor after rival FirstGroup ruled out a formal takeover offer for the company.

French utility group Veolia and state bank Caisse des Depots agreed to start talks about merging their transport businesses to create a new company with 8 billion euros in proforma revenues.

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