Deals of the day -- mergers and acquisitions

(Adds Vivacom, United Technologies, Schenck Process, Synthos)

Aug 7 (Reuters) - The following bids, mergers, acquisitions

and disposals involving European, U.S., Canadian and Asian

companies were reported by 2000 GMT on Tuesday.

** Southwest Securities, a mid-sized Chinese

brokerage, scrapped a planned acquisition of local rival Guodu

Securities under a $1.7 billion share swap agreement after a

slumping stock market made the original deal seem overvalued.

** Canadian Imperial Bank of Commerce has

agreed to acquire MFS McLean Budden's private wealth business,

which manages about $1.4 billion in assets for high-net-worth

individuals, families, endowments and

foundations.

** China's Hanlong Group has cut its offer for

Australian-listed miner Sundance Resources by 30

percent to A$1.2 billion ($1.27 billion) to reflect the weak

commodities outlook, a source with direct knowledge said.

** Avago Technologies Ltd is close to buying

Schneider Electric SA's U.S.-based sensors subsidiary,

according to three people familiar with the matter, a deal that

could fetch around $1 billion for the French

conglomerate.

** CJ Korea Express, the country's biggest

logistics firm, may bid for privately owned U.S. freight

forwarder Phoenix International, a Seoul-based spokesman said.

Phoenix International is exploring a sale that could fetch

as much as $500 million from global logistics companies, several

sources told Reuters previously.

** Irish building materials group CRH Plc said it

was in talks to pick up an equity stake in Jaiprakash

Associates' cement operations in the western Indian

state of Gujarat.

** A company linked to Thai billionaire Charoen

Sirivadhanabhakdi has made an unsolicited bid of S$55 a share to

buy about 7.3 percent of Asia Pacific Breweries from

Fraser and Neave.

The move comes after Singapore's F&N agreed to sell its

direct and indirect stake in APB to Heineken for S$5.1

billion ($4.1 billion), which worked out to S$50 a share.

** Taiwan's Hon Hai Precision Industry said it was

in talks with Sharp Corp about buying a bigger stake in

the struggling Japanese TV maker and paying less per share as

part of a renegotiated investment deal between the two suppliers

of parts to Apple Inc.

** South Korean parts maker Mando said on

Tuesday that it has agreed to secure the right to buy shares

worth $182 million held by the National Pension Service (NPS) in

car air-conditioner maker Halla Climate Control Corp

.

** VTB Capital, a unit of Russia's VTB Bank, and

Bulgarian lender Corporate Commercial Bank (CCBank)

have agreed to take over debt-ridden Bulgarian telecoms company

Vivacom, Vivacom said on Tuesday.

** Home Depot Inc said it would buy Texas-based

manufacturer U.S. Home Systems Inc for about $93.4

million, or $12.50 a share, to boost its home service business.

** Codan Ltd said it would buy all of the shares in

Daniels Electronics Limited in a deal which comprises upfront

cash payment of C$25 million with possibility of about C$2

million in additional payments.

** Abilio Diniz, chairman of Grupo P?o de A??car

, agreed on Monday to sell part of his stake in the

holding company controlling Brazil's biggest retailer, the next

step in handing control to French group Casino.

Diniz exercised an option to sell Casino a 2.4 percent stake

in the investment holding company Wilkes for $10.5 million,

giving the French retailer a majority in the holding company as

laid out in a 2005 shareholder agreement.

** United Overseas Bank, Singapore's third-biggest

lender, on Tuesday confirmed its interest in the Asian asset

management business of ING Groep, saying a lot depends

on the price.

** United Technologies Corp said it has sold its

Clipper Windpower unit to Platinum Equity for an undisclosed

sum, wrapping up its third divestiture of the year following its

largest-ever acquisition.

** Private equity firm Carlyle Group LP has emerged

as the front runner to buy DuPont's car paint business after

rival bidder Apollo Global Management LLC declined to

increase its offer, according to three people familiar with the

matter.

** Swedish defence and aerospace group Saab AB

has made a recommended offer for Dutch traffic management and

navigation systems maker HITT N.V., the companies said

on Monday.

** Greece wants binding bids for its state-owned natural gas

company and gas grid operator by the end of September and hopes

to complete their sale in late autumn as it revives its

privatization drive, a government official told Reuters on

Monday.

** The bidding for the buyout of measuring and materials

handling equipment maker Schenck Process is narrowing after

Pamplona Capital Management dropped out, leaving two buyout

firms to go head to head in the auction, banking sources said on

Tuesday.

** Polish synthetic rubber maker Synthos has

dropped its bid for state-controlled fertiliser firm Pulawy

, conceding defeat in the face of a rival bid.

(Compiled by Sandhya Vijayan in Bangalore)

Source: http://news.yahoo.com/deals-day-mergers-acquisitions-101033132--sector.html

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