M&A

25 November, 2009

UPDATe 1-Market Chatter -- Corporate finance press digest

(Adds National Express and ITC)

BANGALORE, Nov 26 (Reuters) - The following corporate finance-related stories were reported by media on Thursday:

* The Hershey Trust, the charitable trust that is the major shareholder of Hershey Co HSY.N>, has sought the approval of the Pennsylvania attorney general for a potential $17 billion bid for Cadbury Plc (CBRY.L), according to the Wall Street Journal.[ID:nN25368734]

* A rights issue by National Express (NEX.L) will be "resoundingly agreed" in spite of opposition from the company's largest shareholder, the Financial Times reported in its Thursday editions. [ID:nGEE5AP006]

* Beal Bank made a bid for Trump Entertainment Resorts (TRMPQ.PK) Atlantic City casinos about a week after Donald Trump abandoned his campaign to get back the properties bearing his name, the Wall Street Journal reported. [ID:nN25353523]

* Indian cigarettes-to-hotel group ITC (ITC.BO) is open to raising its holding in EIH Ltd (EIHO.BO), which runs the Oberoi hotel chain, newspapers reported on Thursday, citing its chairman. [ID:nBOM95289]

* Industrial & Commercial Bank of China (ICBC) (1398.HK) (601398.SS) has no plans to raise capital in the near term and it faces no short-term pressures due to its capital adequacy ratio, the official Shanghai Securities News reported on Thursday, citing a bank official. [ID:nSHA351167]

(Compiled by Purwa Naveen Raman in Bangalore) ((purwa.naveen@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: purwa.naveen.thomsonreuters.com@reuters.net))

Source: http://www.reuters.com