March 9 The following bids, mergers,
acquisitions and disposals were reported by 1100 GMT on
** Dutch paints and coatings maker Akzo Nobel NV
rejected a 21 billion euro ($22 billion) bid from larger U.S.
rival PPG Industries Inc, saying instead it would
"unlock value" by spinning off its chemicals business.
** Alphabet Inc's venture arm has invested in
Currencycloud, a UK startup that provides technology to enable
businesses to provide cross-border payments services to their
** An investor group led by former music executive Edgar
Bronfman Jr has dropped out of bidding for Time Inc,
owner of People and Sports Illustrated magazines, according to a
source familiar with the matter.
** Shares of Yingde Gases Group Co Ltd climbed 2.4
percent to a near two-year high after shareholders voted for
major board changes, ending a four-month battle for control of
China's top industrial gases company.
** French dairy group Lactalis has raised the price of an
offer for shares in Parmalat it does not already own to
3 euros per share after complaints from some investors that its
previous bid undervalued the Italian dairy group.
** German industrial gases group Linde said its
planned merger with U.S. rival Praxair was on track and
it aimed to raise its profitability this year, lifting its
shares to the top of the German blue-chip DAX.
Linde is also seeing interest in assets it may have to
divest in the course of a planned merger with Praxair, its chief
** Royal Dutch Shell has agreed to sell most of its
Canadian oil sands assets for $7.25 billion to Canadian Natural
, the company said.
** Taiwan's Foxconn, the world's largest contract
electronics maker, is not a favoured bidder for Toshiba Corp's
memory chip business due to its close ties with China,
sources with direct knowledge of the deal said.
** Taiwan's Cathay Financial Holding Co is in
exclusive talks to acquire the Malaysian unit of Canada's Bank
of Nova Scotia, in a deal that could be valued at
around $200 million to $300 million.
** Tabcorp Holdings plans to sell its Queensland
electronic gaming machine monitoring business to address
competition concerns over its proposed A$6.4 billion ($4.9
billion) takeover of rival Tatts Group, Australia's
competition regulator said.
** U.S. buyout firm Advent International Corp has acquired a
minority stake in Brazilian online broker Easynvest for an
undisclosed sum, the companies said in a statement on Wednesday.
(Compiled by Akankshita Mukhopadhyay in Bengaluru)