(Adds Trifid Financial, ING, Prudential; updates UIL Holdings,
Walt Disney)
May 25 (Reuters) - The following bids, mergers,
acquisitions and disposals involving European, U.S. and Asian
companies were reported by 2000 GMT on Tuesday.
(For Reuters columns on deals, click on [])
** UIL Holdings Corp <UIL.N> agreed to buy three gas
utilities from the U.S. unit of Spain's Iberdrola SA <IBE.MC>
for $1.296 billion in cash, including debt, in a deal that
would more than double its customer base.
To read more, double click on []
** Most of Prudential Plc's <PRU.L> investors are
comfortable with its bid for AIG's <AIG.N> Asian life unit AIA,
its chairman said, moving to dispel fears shareholders may
baulk at the $35.5 billion cost of the deal. []
** Williams Cos Inc <WMB.N> said it has bought about 42,000
net acres from Alta Resources LLC and its partners for $501
million in a deal that would nearly double its exploration and
production assets in the Marcellus shale. []
** South Korea's POSCO <005490.KS> said it had signed a
preliminary agreement to buy Daewoo International <047050.KS>,
in what could become its biggest acquisition to date as the
steelmaker looks to secure raw materials and boost overseas
sales. []
** Swire Pacific <0019.HK>, CITIC Pacific <0267.HK> and
Cathay Pacific Airways <0293.HK> said they have agreed to sell
their combined 40 percent stakes in Hong Kong Air Cargo
Terminals Ltd (HACTL) and HACTL Investment Holdings Ltd (HIHL)
for a total HK$2.56 billion ($328 million). []
** Privately held group Trifid Financial, owner of Czech
logistics firm C.S. Cargo, agreed to buy the transport business
of Italy's Arceze Trasporti for up to 282 million euros ($344.6
million), a source close to the deal said. []
** Dutch bancassurer ING Groep NV <ING.AS> said all options
remain open on TMB Bank <TMB.BK>, Thailand's sixth-largest bank
by assets, after TMB's chairwoman said ING could take a
majority stake. []
** Major Chinese steel mill Anshan Steel Group has received
approval from China's state asset regulator to acquire
Panzhihua Steel, a source familiar with the transaction said.
[]
** PetroQuest Energy Inc <PQ.N> agreed to sell half of its
stake in the undeveloped Woodford shale assets, located in
Oklahoma, as well as the proved undeveloped reserves in the
shale to two NextEra Energy Resources units. []
** Lodging-focused real-estate investment trust DiamondRock
Hospitality Co <DRH.N> agreed to buy Hilton Minneapolis hotel
for $152 million and said it would offer 20 million shares,
sending the stock down 9 percent after market. []
** German carmaker Volkswagen <VOWG.DE> said it was buying
a 90.1 percent stake in Italian auto designer Italdesign,
without giving any detail on price. []
** The Walt Disney Co <DIS.N> has resumed negotiations with
financier brothers Alec and Tom Gores on a sale of Miramax
after exclusive talks with Weinstein Co and billionaire
financier Ron Burkle's Yucaipa have stalled, sources familiar
with the situation said. []
** Philippine conglomerate San Miguel Corp <SMC.PS>
<SMCB.PS> is in talks with five groups to sell 49 percent of
its San Miguel Pure Foods Co unit, and may conclude a deal
within a month, president Ramon Ang said. []
** Technology distributor Avnet Inc <AVT.N> said it
launched a tender offer for Unidux Inc <9897.T> to expand its
presence and customer base in the Japanese market.
[]
(Compiled by Tina Kwan in Singapore; Krishna N. Das and Vinay
Sarawagi in Bangalore)
