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Deals of the day -- mergers and acquisitions

Reuters - Tuesday, August 26

Aug 25 - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 13:30 GMT on Monday.

** Canada's Precision Drilling Trust <PD_u.TO> will buy U.S. driller Grey Wolf Inc <GW.A> for $2 billion in cash and stock, creating one of the largest North American oil and gas rig operators. To read more, please double click on [nN25495723]

** Denmark's central bank unveiled a 4.5 billion crowns bailout of Roskilde Bank <ROSK.CO> acting to confine the negative effect of the struggling bank on the Danish financial system. [nLP567325]

** Japanese brewer Kirin Holdings <2503.T> is expanding its food business in Australia through unit National Foods' $780 million acquisition of Dairy Farmers, helping it diversify away from a shrinking domestic beer market as Japan's population ages. [nSYD116206]

** Infosys Technologies <INFY.BO>, India's No. 2 software services exporter, said it had agreed to buy UK-based consultancy services firm Axon Group Plc <AXO.L> in an all-cash deal valued at 407.1 million pounds . [nBMA001303]

** Lufthansa <LHAG.DE> has formally announced its interest in acquiring a stake on offer in Austrian Airlines <AUAV.VI>, a spokesman for the German carrier said.

OeIAG is offering its 43 percent share in Austrian, worth around 157 million euros , but said the size of the stake sold would depend on preserving an Austrian group of core shareholders owning 25 percent between them. [nLP527176]

** Irish food group Glanbia <GL9.I> said it would spend $315 million to buy Optimum Nutrition Inc, a U.S. maker of supplements for body builders, which will use by-products of its cheese manufacturing. [nLP553616]

** Broadcom Corp <BRCM.O> plans to buy Advanced Micro Devices' <AMD.N> digital television business for $192.8 million in cash in a move to broaden its own product portfolio. [nWNAB8164]

** Singapore Telecommunications <STEL.SI> said it has bought a 60 percent stake in Singapore Computer Systems <SCSS.SI> for S$140 million as it seeks to boost its IT business. [nSIN136222]

** Norwegian shipping group DOF ASA <DOF.OL> said that uncertainty in the financial market had forced it to re-evaluate a planned buyout of offshore services group DOF Subsea <DOFSUB.OL>. [nOSL001480]

** MLP <MLPG.DE> Chief Executive Uwe Schroeder-Wildberg was quoted by Swiss finance newspaper Cash Daily as saying he believes Swiss Life <SLHN.VX> plans to take over the German financial adviser would fail. [nLP558892]

** China Netcom <0906.HK> said it will continue to hold PCCW Ltd <0008.HK> stake after the Chinese fixed-line operator merged with China Unicom <0762.HK>. [nHKG178366]

** An Abu Dhabi firm's plan to acquire Norway-listed oilfield services group Scorpion Offshore <SCORE.OL> has been cast in doubt by the death of Sheikh Nasser Bin Zayed Al Nahyan. [nLP558635]

** Animal-feed and pork company AgFeed Industries Inc <FEED.O> said it agreed to buy four hog farms in South China, and plans to acquire at least five to 10 others before the end of 2008. [nBNG248398]

** Hospital-chain operator Fortis Healthcare Ltd <FOHE.BO> expects to buy a 100-200 bed hospital by September, its chief executive said. [nDEL278870] (Compiled by Tina Kwan in Singapore and Santosh Nadgir in Bangalore)

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