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Deals of the Today -- mergers and acquisitions
August, 18th 2009

The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0900 GMT on Tuesday.

Global miner Rio Tinto (RIO.AX: Quote, Profile, Research) agreed to sell its Alcan packaging unit for about $2 billion to Australia's Amcor Ltd (AMC.AX: Quote, Profile, Research), easing its debt burden after an ill-timed acquisition two years ago. [ID:nSYD430700]

Mexican miner Grupo Mexico SAB de CV (GMEXICOB.MX: Quote, Profile, Research) said it would raise its offer for Asarco LLC to $2.20 billion in cash, as it battles India's Sterlite Industries (STRL.BO: Quote, Profile, Research) for control of the bankrupt U.S. copper miner. [ID:nN17385167]

National Australia Bank Ltd (NAB.AX: Quote, Profile, Research) has agreed to buy Challenger Financial Services Ltd's (CGF.AX: Quote, Profile, Research) mortgage unit for A$385 million ($318 million) as traditional lenders grab more home loan market share from non-bank lenders. NAB, Australia's top lender, said the deal will give the bank an additional A$4 billion worth of residential mortgages. [ID:nSYD472307]

Sweden's Koenigsegg and U.S.-based General Motors [GM.UL] said they had inked a deal for the niche sports car maker to buy loss-making Saab Automobile. [ID: nLI75238]

Reliance Communications (RLCM.BO: Quote, Profile, Research), India's No. 2 mobile operator, is in preliminary talks to buy Kuwaiti telecoms firm Zain's (ZAIN.KW: Quote, Profile, Research) African operations, two banking sources with knowledge of the development said, in a deal reported to be worth $10 billion. [ID:nDEL477805]

India's Bharti Airtel (BRTI.BO: Quote, Profile, Research) has received bids from more than a dozen foreign banks, including Citi (C.N: Quote, Profile, Research) and JPMorgan (JPM.N: Quote, Profile, Research), to fund its proposed stake buy in South Africa's MTN (MTNJ.J: Quote, Profile, Research), the Economic Times reported, raising hopes for a deal.

U.S. navigation device maker Garmin Ltd (GRMN.O: Quote, Profile, Research) said any takeover offer it might make for Britain's Raymarine Plc (RAY.L: Quote, Profile, Research) was likely to be in cash. [ID: nBNG463738]

Chip technology company Virage Logic (VIRL.O: Quote, Profile, Research) has agreed a deal to acquire British chipmaker ARC International Plc (ARK.L: Quote, Profile, Research), the U.S. firm said.

The proposed all-cash transaction values shares in ARC, which specialises in chips for mobile phones, at 16.25 pence, or a total of 25.2 million pounds ($41.30 million), Virage said. [ID:nLI21507]

Marine services group James Fisher & Sons Plc (FSJ.L: Quote, Profile, Research) said it had bought nuclear and aerospace engineer MB Faber Ltd for up to 5.25 million pounds ($8.6 million) in cash to strengthen its nuclear decommissioning business. [ID:nLI217338]

Agricultural sector-focussed Agriterra Ltd (AGTAR.L: Quote, Profile, Research) said it planned to buy West African palm oil company Equatorial Biofuels (Guernsey) Ltd from Equatorial Palm Oil Plc for about $12 million in cash and stock. [ID:nBNG427968]

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