Deals of the day- Mergers and acquisitions

Tue, 18 Mar - 8:01pm

March 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Societe Generale SOGN.PA , France's No. 2 listed bank, said it would offer to buy out minority holders of its online bank brand Boursorama FMTX.PA , as it seeks to grow the business despite France's weak economic outlook. News Search ID:nL6N0MF1FS

** American Express Co AXP.N said on Monday that four financial investors had committed a total of $900 million to a business travel joint venture, in what would be the largest single investment ever made in a travel management company.

News Search ID:nL6N0ME4BG

** Scania SCVb.ST board members responsible for assessing a bid by Volkswagen VOWG_p.DE for outstanding shares in the truck maker said on Tuesday that the offer was too low, and recommended that shareholders reject it. News Search ID:nL6N0MF0YA

** Russian internet group Mail.Ru MAILRq.L said it bought a 12 percent stake in the country's biggest social networking site, VKontakte (VK), raising its holding to about 52 percent.

News Search ID:nASM00060S

** Belgian holding company Punch International PUNC.BR said late on Monday that it had decided not to proceed with its bid for real estate holding Accentis SYNB.BR , after shares in the latter rose in value. News Search ID:nL6N0MF10R

** Shanghai Pudong Development Bank Co Ltd 600000.SS said it may take a controlling stake in state-owned Shanghai International Trust Co Ltd as part of the Shanghai government's plan to consolidate the city's financial industry.

News Search ID:nL3N0MF0AU

** David Jones Ltd DJS.AX , Australia's second-biggest department store chain, said it would investigate the value of a proposed merger with Myer Holdings Ltd MYR.AX , the strongest sign yet that it will consider the A$3.4 billion ($3.09 billion) deal. News Search ID:nL3N0MF03H

** Macquarie Group Ltd MQG.AX , Australia's top investment bank, has agreed to sell its private equity funds management division to the unit's three managers, a source with direct knowledge of the deal told Reuters on Tuesday.

($1 = 1.0999 Australian Dollars)

(Compiled by Avik Das in Bangalore)

((avik.das@thomsonreuters.com)(within U.S. +1 646 223 8780)(outside U.S. +91 80 6749 1130)(Reuters Messaging: avik.das.thomsonreuters.com@reuters.net))

Keywords: DEALS DAY/

URN: 
urn:newsml:reuters.com:20140318:nL3N0MF241:3
Topics: 
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