DealZone Daily

March 19, 2010

Time Warner is considering making a second-round bid of up to $1.5 billion for Hollywood studio Metro-Goldwyn-Mayer, a source tells us. The March 19 deadline for the bids for MGM — whose film library includes the James Bond and Pink Panther franchises — may well be extended.

Shares in Arrow Energy have been suspended — the suspicion is that Royal Dutch Shell and Petrochina will sweeten their joint $3 billion offer for the Australian gas producer. Read the Reuters story here.

And as I am writing this, London-listed Gulfsands Petroleum is saying that it has rejected a preliminary takeover approach. The suitor is Indian, it has also said, but it’s not ONGC. To be continued.

For all other news on deals from Reuters, click here. In rival media:

Zhejiang Geely Holding Group chairman Li Shufu indicated talks to buy Ford’s Volvo car unit had hit a snag due to problems at Ford, but continues to expect to complete the deal, says a story in the Wall Street Journal.

Takeover target Arriva is refusing to open its books to Deutsche Bahn unless the German firm increases its almost 1.4 billion pounds ($2.1 billion) bid for the train and bus operator, according to UK newspaper The Times.

India’s second-largest listed developer Unitech is looking to spin off non-core businesses that include power, hotels, telecom and special economic zones, the DNA Money newspaper reports.

The race to buy the British national lottery operator Camelot has narrowed to two contenders and a decision on the preferred bidder could come as early as next week, says the Financial Times.

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