Deals du Jour
Buyout firm Resolution raises its offer for UK insurer Friends Provident to about 2 billion pounds, and the two sides start talks about a possible deal.
The following are M&A related stories reported by Reuters and other media:
Lloyds Banking Group may consider a multi-billion pound share issue as part of a partial withdrawal from the government’s asset protection scheme, according to a report in the Sunday Times.
U.S. power producer Dynegy will sell nine U.S. power plants to its one-time development partner LS Power Associates, the Wall Street Journal says.
Japan’s largest chemicals firm Mitsubishi Chemical is in talks to buy resin maker Mitsubishi Rayon in a deal worth up to $2.1 billion, the Nikkei business daily says.
Financial services firm Edelweiss Capital is in talks with Japanese insurance group Tokio Marine for a possible joint venture in life insurance, a newspaper reported.
German railways operator Deutsche Bahn is unlikely to list on the stock exchange before 2013, the group’s chief executive said in an interview. Click here for the Reuters story.
Libya and India’s Essar are both bidders for Shell’s Stanlow refinery in the UK, according to a report in the Sunday Times. Click here for the Reuters story.
UK stockbroker Astaire Securities, formerly known as Blue Oar, is mulling a bid for rival Daniel Stewart, according to a report in the Independent on Sunday.