Bid & Ask

Compiled by Caroline Winter


• London-based BP plans to buy back $8 billion of its own shares after completing a deal to sell its entire 50 percent of Russian oil producer TNK-BP to Rosneft. BP will have a 19.8 percent stake in Rosneft, Russia’s biggest oil company.

• The Netherlands’ CSM is selling its bakery supplies unit to New York buyout firm Rhone Capital for about $1.3 billion including debt.

• Europe’s No. 1 insurer Allianz bought Turkey’s Yapi Kredi Sigorta for $879 million as part of a plan to expand in rapidly growing emerging markets.

• Reaching for a better foothold in the hospital products and medicine market, Bidvest Group bid about $670 million for a 60 percent stake in fellow South African company Adcock Ingram Holdings.

• Two of London’s oldest financial firms are combining as Schroders purchases Cazenove Capital Holdings for $646 million to expand in private banking.

• Japan’s largest general retailer, Aeon, will pay as much as $426 million to raise its stake in smaller rival Daiei, as part of a plan to expand in urban areas.

American Residential Properties, an owner of single-family rental homes, plans to raise $300 million in an IPO.

• Dublin-based Shire, a maker of medicines for rare genetic diseases, will buy California’s SAR code Bioscience for at least $160 million.

• SAC Capital Advisors’ chief Steven Cohen bought Pablo Picasso’s Le Rêve for $155 million from casino owner Steve Wynn, says a person familiar with the deal. Cohen had agreed to buy the painting in 2006, but the sale fell through after Wynn accidentally put his elbow through the canvas.

• CBS will pay more than $100 million to buy a 50 percent stake in TV Guide Network from JPMorgan Chase’s One Equity Partners unit, says a person with knowledge of the plan.


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