Deals of the day -- mergers and acquisitions
Jume 30 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0530 GMT on Monday.
(For Reuters columns on deals, click on [DEALTALK\]
** Global steel giants ArcelorMittal and POSCO have separately bought stakes in Macarthur Coal, potentially blocking each other from taking over the Australian mining company as steelmakers rush to secure stable coal supplies. To read more, please double click on [nSEO281490]
** New Zealand rural services firm PGG Wrightson Ltd (PGW.NZ: Quote, Profile, Research) said it would pay NZ$220 million ($167 million) for a 50 percent stake in meat producer Silver Fern Farms (SFF), sending its shares lower. [nWEL135981
** New Zealand retail investment company Hellaby Holdings Ltd (HBY.NZ: Quote, Profile, Research) said it would sell its poorly-performing BBQ factory business and forecast a fall in operating earnings. The company said it would sell the business to Auckland-based private equity firm Capital Group. No price was disclosed. [nWLF000942]
** China State Shipbuilding Corp (CSSC), the country's largest ship-building group, has put its Wenchong Shipyard up for sale on the Beijing Equity Exchange for 3.04 billion yuan ($443 million), according to the exchange's website (www.cbex.com.cn). [nSHA179552]
** Del Monte Foods Co (DLM.N: Quote, Profile, Research) agreed to sell its seafood business including tuna brand StarKist to South Korean food group Dongwon for $363 million, creating the world's top canned tuna firm. [nSEO289624]
** New Zealand dairy cooperative Fonterra and National Foods are working together on a possible joint bid for Australia's Dairy Farmers, the dairy producer said. [nSYD140618]
** Bear Stearns Asset Management will sell its 50 percent stake in Migdal Capital Markets to a subsidiary of Migdal Insurance & Financial Holdings (MGDL.TA: Quote, Profile, Research) for $70 million, the Israeli insurer said. [nL29718345] Continued...
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