May 27, 2011 / 2:56 PM / 9 years ago

Deals of the day -- mergers and acquisitions

(Adds Cairn Energy, Chrysler, Arsenal)

May 27 (Reuters) - The following bids, mergers, acquisitions and disposals, involving U.S., European and Asian companies were reported by 2000 GMT on Friday.

** An Indian ministerial panel will recommend granting a conditional approval to Vedanta Resources’ $9.6 billion plan to buy Cairn Energy’s India assets, a government source said on Friday. [ID:nL3E7GR2OA]

** Fiat SpA plans to exercise an option to buy the U.S. Treasury’s stake in Chrysler, which paves the way for the Italian automaker to clinch a majority share in the company by early next month. [ID:nN27122801]

** Russian billionaire Alisher Usmanov has further increased his stake in Arsenal — one of Europe’s leading soccer clubs — as Usmanov continues to battle against rival Stan Kroenke’s takeover of the English team. [ID:nLDE74Q1YI]

** Activist investor Carl Icahn has cut his stake in video game publisher Take-Two Interactive Software Inc , a regulatory filing showed on Friday. [ID:nN2792714]

** Industrial bearings and steel maker Timken Co said it would buy privately held Philadelphia Gear Corp for $200 million, to strengthen its presence in the mechanical power transmission equipment market. [ID:nL3E7GR22S]

** Power provider Constellation Energy Group , which is being bought by Exelon Corp , will buy Houston retail electricity company StarTex Power for $142.5 million in cash. [ID:nL3E7GR1WJ]

** Budget hotelier Home Inns & Hotels Management Inc said it will buy fellow Chinese hotel chain Motel 168 International Holdings Ltd for $470 million in cash and stock. [ID:nL3E7GR1O8]

** Thailand’s largest retailer Central Group said it will announce on Monday plans to acquire Italian department store chain La Rinascente Srl but did not provide details on the size of the deal. [ID:nL3E7GR1KT]

** Privately-held Czech energy holding company EPH doubled its stake in Dalkia’s Czech business to 10 percent by exercising an option it acquired last year, Dalkia said on Friday. [ID:nLDE74Q0UB]

** Malaysia’s Sime Darby , the world’s top planter by landbank size, is exiting its loss-making oil and gas business as part of the conglomerate’s attempts to boost profits. [ID:nL3E7GR0MF]

** British hotel operator MWB Group Holdings Plc said its majority-owned unit, MWB Business Exchange Plc, recommended its buyout offer, despite receiving a higher indicative cash offer by workspace rental company Regus Plc . [ID:nL3E7GR0VN]

** Indian electrical appliances and capital goods maker Crompton Greaves (CG) said it had bought U.S.-based QEI Inc for about $30 million in a deal that will allow it to penetrate North American automation market. [ID:nL3E7GR0BD]

** Six months after buying half of Time Out’s London business, Investment firm Oakley Capital added another chapter by acquiring a controlling stake in the magazine and travel publisher’s New York business for £14.2 million ($23 million). [ID:nL3E7GR10O] (Compiled by Aniket Basu in Bangalore)

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