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Deals of the day -- mergers and acquisitions

The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Swiss drugmaker Roche Holding AG is exploring a sale of its blood glucose meters business, three people familiar with the matter told Reuters on Wednesday, as the industry grapples with increased competition and reimbursement pressure.

** Itau Unibanco Holding SA will take over Citigroup Inc's Brazilian consumer finance units for 2.77 billion reais ($1.37 billion) as the nation's biggest bank by market value expands more rapidly in the local credit card market.

 

** Warner Music won EU regulatory approval on Wednesday to buy the Parlophone Label Group from Vivendi's Universal Music Group for 487 million pounds ($743.01 million).

** Shareholders of South Africa's Cipla Medpro overwhelmingly approved a $488 million takeover offer from India's Cipla Ltd on Wednesday, giving the Indian drugmaker a big presence in Africa's biggest economy.

** British conglomerate Lonrho Plc, whose roots go back more than a 100 years to colonial Africa, received a buyout offer valuing the company about 175 million pounds ($266 million), double its market value at the close on Tuesday.

** Heineken NV's UK unit has acquired a 3.21 percent stake in India's United Breweries Ltd, the Indian alcohol company said.

** Chinese automotive manufacturer Tri-Ring Group Corp will buy Polish bearings maker FLT Krasnik for some 300 million zlotys ($93 million) in the largest investment yet by a Chinese firm in Poland, a person close to the deal said.

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** Severn Trent rejected a preliminary takeover offer from a consortium including Borealis Infrastructure and the Kuwait Investment Office, saying the offer undervalued the British water company.

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The consortium of investors offered just under 20 pounds per share for the British water company, valuing it at around 4.7 billion pounds ($7.17 billion), a source told Reuters on Wednesday.

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** Hamburg Sued, Germany's second-largest shipping group, said it did not expect to resume talks with rival Hapag-Lloyd any time soon after talks were broken off on the form and details of a combination.

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** TUI AG has no plans to merge with London-listed unit TUI Travel, the German company's chief executive said.

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** The parent of Dongfeng Motor Group Co, China's second-largest automaker, will take an over-40 percent stake in Fujian Motor Industry Group, a local newspaper said , the latest consolidation in the country's fragmented auto market.

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** Private equity firm AnaCap said on Wednesday it had agreed to sell British consumer debt collector Cabot Credit Management to U.S. investment firm JC Flowers.

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** Rewe, one of Germany's largest retailers, said it is looking to sell its ProMarkt chain of consumer electronics stores because it is unable to compete with competition from online retailers such as Amazon.com.

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** Italian refiner Saras and Russian partner Rosneft are eying the petrol station network that oil major Royal Dutch Shell is mulling selling in Italy, a Saras executive said on Wednesday. ($1 = 2.02 Brazilian reais) ($1 = 0.6554 British pounds) ($1 = 3.2107 Polish zlotys) (Compiled by Mridhula Raghavan and Pallavi Ail in Bangalore)

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