M&A

4 November, 2009

UPDATE 3-Deals of the day -- mergers and acquisitions

** Israeli holding company Koor Industries (KOR.TA) said it had raised its stake in Credit Suisse (CSGN.VX) in recent days to 1.9 percent or 22.49 million shares. [ID:nL4167461]

** Azerbaijan's state oil company Socar plans to take a "substantial" stake in an Italian oil refinery next year and aims to raise the proportion of term exports of Azeri Light crude to Asia, its chief executive said. [ID:nSP278630]

** Egypt's Pioneers Holding (PIOH.CA) is in talks to buy a stake in investment bank Beltone Financial, the stock exchange said. Pioneers confirmed the statement issued by the exchange but declined to give details of the deal when contacted by Reuters. [ID:nL4220756] ** U.S. discount retailer Target Corp (TGT.N) denied a media report that said it was in talks to sell its captive technology centre in Bangalore. [ID:nBNG298804]

** Shareholders of Chartered Semiconductor (CSMF.SI) have voted in favour of Abu Dhabi state fund ATIC's offer to buy the chipmaker, the two companies said. [ID:nSGC003358]

** Investment adviser OppenheimerFunds, representing 5.78 percent of Tandberg ASA's (TAA.OL) investors, joined opposition to network equipment maker Cisco Systems Inc's (CSCO.O) offer for the videoconferencing firm. [ID:nN0435354]

** Third-party logistics provider Pacer International Inc (PACR.O) is not actively pursuing a sale of the company and neither is it looking at any asset sale, its Chief Executive said. [ID:nWNAB0173] (Compiled by Tina Kwan in Singapore and Shobhana Chadha and Fareha Khan in Bangalore)

Source: http://www.reuters.com