DealZone Daily

October 28, 2009

Japan’s Monex Group will buy the securities unit of Orix Corp for about $246 million in stock, in a deal that will create the country’s second-largest online broker.

By forming a broker with more than $23 billion in client assets they will be able to cut systems and other costs and beef up product and service line-ups, they said.

In other M&A news reported by Reuters and other media:

Speculation about a possible takeover of UK retailer Debenhams was raised after private equity firm TPG sells its 9 percent stake, the FT says.

Matalan, another UK retailer, is being circled by KKR, Blackstone, Cinven and TPG, the FT adds.

GSI Commerce agrees to buy e-commerce company Retail Convergence for $180 million in cash and stock, to strengthen its online sales platform.

Liechtenstein-based LGT Bank would be interested in BHF Bank, a unit of Sal. Oppenheim, were it to be put up for sale, an executive at LGT tells German daily Handelsblatt.

Deutsche Boerse is the frontrunner to the Warsaw Bourse, the WSJ says.

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