The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
** U.S.-based Royalty Pharma has dropped a hostile bid worth up to $8 billion for Elan, leaving the Irish drug maker free to seek other suitors.
** Vodafone faces a battle for Germany’s largest cable company, Kabel Deutschland, although rival bidder Liberty Global of the United States has bigger regulatory and funding hurdles to overcome.
** Canadian oil and gas company Talisman Energy Inc is exploring the sale of its shale assets in the Eagle Ford basin in south Texas, hoping it could raise as much as $2 billion, two people familiar with the matter said.
** China Mengniu Dairy Co Ltd signed a second takeover deal in a month on Tuesday, offering to buy Carlyle-backed Yashili International Holdings Ltd in a deal worth about HK$12.5 billion ($1.6 billion) as part of a plan to expand its milk powder business.
** GlaxoSmithKline is discussing the sale of its thrombosis drug brands Arixtra and Fraxiparine, along with a related French factory, to Aspen Pharmacare in a deal that could be worth some $1 billion.
** New York-based hedge fund Third Point said it has raised its stake in Sony Corp and urged the Japanese company to create an independent board to run a partially spun-off entertainment arm with Sony’s CEO, Kazuo Hirai, as its chairman.
** Oil refiner Tesoro Corp won approval from U.S. antitrust regulators to buy Northwest Products Pipeline system and related assets from Chevron Corp, on the condition it sells a petroleum terminal in Boise, Idaho. Tesoro struck a deal in December to buy the assets from Chevron for $400 million but lowered the price in May to $355 million after a renegotiation.
** U.S.-based Chevron Corp is selling five Nigerian shallow-water oil blocks, the company said on Tuesday, the latest oil major seeking to dispose of assets in Africa’s biggest producer.
** A direct sale of German publisher Springer Science+Business Media to BC Partners is still an option, even after Springer’s owners said last week their focus was on a stock exchange listing, two people familiar with the talks said on Monday.
** Malaysian gambling giant Genting Bhd has increased its stake in Australia’s Echo Entertainment Group , just weeks after rival casino company Crown Ltd sold its 10 percent stake in Echo.
** A unit of Glencore Xstrata plc entered into an agreement with Orbite Aluminae Inc to purchase smelter-grade alumina (SGA) from its proposed plant in Quebec.
** Belgium-based Alfacam, the troubled provider of Europe’s largest fleet of outside-broadcast vans, will be bought by France’s Euro Media Group, the French company said on Tuesday.
** Newly-listed Lekoil has agreed to buy a 6.5 percent stake in an oilfield off the coast of Nigeria for $30 million amid signs of growing investor appetite for its plan to back Nigerian assets, the company said.
** German industrial conglomerate Siemens is seeking offers from private equity firms to buy its stake in its telecoms equipment joint venture Nokia Siemens Networks (NSN), three sources familiar with the discussions said on Tuesday.
** PPR turned the page on its retail past and started a new life as a luxury and sports brands group by renaming itself Kering at its annual general meeting on Tuesday.
** Sweden is selling a 5.7 percent stake in Nordea, the Nordic region’s biggest bank, in a move that may give the centre-right ruling coalition some fiscal leeway ahead of an election next year.
** Billionaire investor Carl Icahn on Tuesday laid out a new proposal for Dell Inc, calling on the No. 3 PC maker to buy back 1.1 billion shares and allowing the activist to become a larger stakeholder.
** Japanese drugmaker Astellas Pharma Inc is looking to sell its dermatology portfolio, which could be worth between $500 million and $1 billion, according to three people familiar with the situation.
** Chinese network equipment and cellphone maker Huawei Technologies Co. would consider buying Finland’s Nokia to help it expand its smartphone business, according to a story on the Financial Times website. (Compiled by Varun Aggarwal and Rohit Tirumala Kumara in Bangalore)