(Adds Tesco, Southeastern Asset Management ; Updates Sealed
Air, Emaar Malls, Dow Chemical)
March 27 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Monday:
** Dow Chemical and DuPont won the blessing
of the European Union for their $130 billion merger on Monday by
agreeing to sell substantial assets including key research and
** Sealed Air Corp said it would sell its cleaning
and chemicals systems division, Diversey Care, and its food
hygiene and cleaning business to Bain Capital Private Equity for
about $3.2 billion, as it focuses on its higher-margin
** Indian auto parts maker Motherson Sumi Systems Ltd
said it had completed the buyout of Finland's PKC
Group for 571 million euros ($620 million).
** AccorHotels and French investment firm Edmond
de Rothschild are in talks to buy Groupe Potel & Chabot, a
company with sales of around 100 million euros ($105 million)
which runs up-market conference centers and hospitality events.
** UK-based materials testing company Exova Group
said it had received proposals for a possible cash offer,
including one from Dutch firm Element Materials Technology.
** China Southern Airlines is in talks
over a tie-up with American Airlines that could involve
the U.S. carrier taking a stake in the state-owned airline,
boosting routes between the world's two largest travel markets.
** The European Commission is open to talks over changes in
commitments made by the Portuguese government on the sale of
Novo Banco but wants counterbalancing measures, the EU executive
** Dubai's Emaar Malls, operator of glitzy Middle
East shopping centres, has made an $800 million offer for
regional online retailer Souq.com IPO-SOUQ.DU, setting up a
potential bidding war with Amazon.com.
** Two of Tesco's biggest shareholders have called
on the supermarket group to withdraw its 3.7 billion pound ($4.7
billion) agreed offer for wholesaler Booker, potentially
casting doubt on the deal's progress.
** Southeastern Asset Management has sold all its shares in
Sika, the investor, which has previously backed the
Swiss company's efforts to fend off a hostile takeover from
Saint-Gobain, said on Monday.
($1 = 0.9203 euros)
(Compiled by Laharee Chatterjee and Komal Khettry in Bengaluru)