Tuesday, December 31, 2013

Deals of the day- Mergers and acquisitions

Tue Dec 31, 2013 10:17am EST





<span id="articleText"> <span id="midArticle_0"/>Dec 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1530 GMT on Tuesday:



<span class="articleLocatio/spann"/>** Warren Buffett's Berkshire Hathaway Inc struck a deal to buy a Phillips 66 business that makes chemicals to improve the flow potential of pipelines for around $1.4 billion of stock.



<span id="midArticle_2"/><span id="midArticle_3"/>** South Korea has picked local lenders BS Financial Group Inc and JB Financial Group Co as preferred bidders to buy regional bank units of Woori Finance Holdings Co, top regulator Financial Services Commission (FSC) said. BS Financial offered more than 1.2 trillion won ($1.1 billion) for a 57 percent stake in Kyongnam Bank, while JB Financial submitted a bid of nearly 500 billion won for Kwangju Bank, wire service Yonhap reported.



<span id="midArticle_4"/><span id="midArticle_5"/>** Nasdaq OMX Group will take a 5 percent stake in Turkey's Borsa Istanbul in a tie-up that will allow the Turkish exchange to use Nasdaq's market technologies to attract new customers, the two exchanges said. Turkey wants to establish Istanbul as a regional financial centre and under the terms of the deal, the state-owned Borsa Istanbul may acquire a 2 percent stake in the U.S. exchange operator in the future.



<span id="midArticle_6"/><span id="midArticle_7"/>** Billionaire businessman Carlos Slim's private equity fund has sold its stake in Mexican pharmaceutical company Landsteiner Scientific to a fund related to that company. The filing Landsteiner made to Mexico's stock exchange did not disclose the value of the stake.



<span id="midArticle_8"/><span id="midArticle_9"/>** Stryker Corp said it would buy Patient Safety Technologies Inc for $120 million, adding to its portfolio a device that reduces the risk of surgical sponges being left in patients after surgery.



<span id="midArticle_10"/><span id="midArticle_11"/>** Chinese recycling magnate Chen Guangbiao said he was preparing to open negotiations to buy the New York Times Co . Chen believes the Times is worth $1 billion, but said he would be willing to negotiate.



<span id="midArticle_12"/><span id="midArticle_13"/>** Czech energy group EPH has bought German utility E.ON's 40 percent stake in Slovak gas storage company Nafta, EPH said.



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