DealZone Daily

February 23, 2010

Tuesday’s highlights:

* Laboratory equipment maker Thermo Fisher Scientific Inc has offered $6 billion to buy Millipore Corp, according to a person familiar with the situation, in a deal that would increase its presence in the manufacture of biotech drugs.

* Morgan Stanley is in late-stage talks to sell its stake in China International Capital Corp to Kohlberg Kravis Roberts & Co and TPG Capital for more than $1 billion, according to three sources familiar with the situation.

* Schlumberger’s got some explaining to do on Smith, says Breakingviews columnist Christopher Swann.

For more on these and the rest of the latest deal-related stories from Reuters, click here.

And elsewhere (some external links may require subscriptions):

* Rupert Murdoch’s News Corp is close to buying a stake in Rotana Media, the broadcast and music group owned by Saudi investor Prince Alwaleed bin Talal, the FT says.

* Electricite de France SA may use power assets and cash to buy a 1.6 billion euro ($2.2 billion) stake in Edison SpA, Italy’s second-largest power producer, Bloomberg reports.

* Canada’s Brookfield Asset Management Inc (BAMa.TO) is preparing to bid for a large stake in No. 2 U.S. mall owner General Growth Properties Inc (GGWPQ.PK), aiming to outbid Simon Property Group Inc (SPG.N), the Wall Street Journal reports.

* Brazilian steelmaker CSN (CSNA3.SA)(SID.N) failed in its bid to buy 33.3 percent plus one share of Portuguese cement maker Cimpor (CPR.LS) after some large shareholders refused to sell, two Portugal-based newspapers said in their online editions. Reuters story here.

* Indian engineering and construction firm Larsen & Toubro (LART.BO) plans to list or partly sell stake in two finance units over the next 12 months, the Business Standard newspaper reported on Tuesday. Reuters story here.

* U.S. private equity firm Apollo Management is looking to pick up a stake in struggling U.S. jewellery retailer Zale Corp (ZLC.N), the Wall Street Journal says, citing people familiar with the matter.

* British takeover rules may have to be toughened in order to raise the hurdles to hostile bidders, Trade Minister Mervyn Davies tells the Daily Mail.

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