Deals of the day -- mergers and acquisitions
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Deals of the day -- mergers and acquisitions   | 22.12.2011.

Dec 21 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2100 GMT on Wednesday.
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Dec 21 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2100 GMT on Wednesday.

** Activist investment fund Starboard Value has taken a 4.5 percent stake in AOL Inc and is pushing for a meeting with the Internet company's chief executive and the board to address what it sees as strategic failings.

** Tokio Marine Holdings will buy U.S. insurer Delphi Financial Group Inc for about 200 billion yen ($2.6 billion), the Nikkei business daily reported on Wednesday.

** Benakat Petroleum Energy, an Indonesian oil and gas firm, is acquiring Astrindo Mahakarya Indonesia, a company providing coal mining infrastructure services, for up to $600 million.

** Japan's Kobe Steel said on Wednesday it will set up a joint venture company with China's Jiangsu Alcha Aluminium and they will invest about 40 billion yen ($514.54 million) in the venture.

** French utility EDF has agreed to buy back Energie Baden-Wuerttemberg's (EnBW) stakes in two Polish power groups, Ersa and Kogeneracja, in a deal worth 301 million euros ($395 million), EDF said in a statement on Wednesday.

** Spain's Unipapel won EU clearance on Wednesday to buy European office products company Spicers CE from British packaging and office products company DS Smith. Unipapel's offer values Spicers at an enterprise value of 200 million pounds ($314 million). The sale will see DS Smith exit from a non-core business.

** Steel major ArcelorMittal has expressed interest in raising its majority stake in Bosnia's Prijedor iron ore unit by acquiring state-owned shares, a regional industry minister said on Wednesday.

** Polish retailer Emperia agreed to sell its distribution arm Tradis to local rival Eurocash, reviving a deal that collapsed amid legal wrangling earlier this year, sources told Reuters on Wednesday. Emperia agreed to sell Tradis in January for 926 million zlotys ($272.7 million), but walked away from the deal in August, accusing Eurocash of not paying on time, even though it had not yet received clearance for the deal from the competition watchdog.

** Bulgaria raised 92.97 million levs ($62 million) on Wednesday via the sale of minority stakes in two power companies to Austrian power utility EVN.

** Robert Bosch, the world's top automotive supplier, will enter one of the last profitable niches of the solar industry by acquiring the inverter business of Conergy , a sign that competition in the sector is getting tougher.

** Edison's Italian investors will ask France's EDF to give them the whole of Edison subsidiary Edipower in return for handing full control of Italy's No 2 power company to the French energy giant, an Italian shareholder said.

** Westway Group Inc, which provides storage services for bulk liquid products, received a buyout offer from an infrastructure investment fund for $6 a share, but the company said the offer undervalues its main business.

** British insurer Beazley is eyeing a new takeover attempt on Hardy Underwriting, a year after abandoning an initial move on its smaller rival, as consolidation intensifies in the Lloyd's of London insurance sector.

** Belarus will not proceed with a planned sale of the government's stake in a domestic joint venture with Russia's biggest mobile operator MTS on Dec. 23, the head of Belarus state property committee said on Wednesday.

** The sale of Mercator, Slovenia's largest food retailer, to Croatian rival Agrokor has been suspended after the resignation of the chief executive of Nova Ljubljanska Banka, the country's largest bank.

** Corridor Resources Inc said it did not succeed in finding a joint venture partner to develop the Frederick Brook shale in Canada's New Brunswick province, seven months after Apache Canada exited the project.

** TMX Group Inc, operator of the Toronto Stock Exchange, said it bought a 16 percent stake in the Bermuda Stock Exchange for an undisclosed amount.

** Italian television broadcaster Mediaset, owned by ex-Prime Minister Silvio Berlusconi, will complete the acquisition of towers operator DMT by the end of the year, the companies said in a statement on Wednesday.

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