Market Chatter-Corporate finance press digest (updated)

BAFNA Pharmaceuticals

26/11/2013 06:07

(Adds news on Bayer Inc, Repsol, IMG) Nov 26 (Reuters) - The following corporate finance-related stories were reported by media:  * Chrysler Group LLC, the No. 3 U.S. automaker, has abandoned plans for an initial public offering this year so it can sort out a U.S. tax issue, according to two sources familiar with the process.  ID:nL2N0JA1BC      * Blackstone Group LP  BX.N  is eyeing an IPO for La Quinta Inns & Suites rather than a sale of the hotel chain, according to a source familiar with the process.  ID:nL2N0JA13U      * Singapore's DBS Group Holdings  DBSM.SI , ABN AMRO and Credit Suisse  CSGN.VX  are among suitors that have submitted final round bids for Societe Generale's  SOGN.PA  Asian private bank, which is being valued at around $400 million, people familiar with the matter said.  ID:nL4N0JB0B0  * Private equity firm Bain Capital LLC is in talks with other private equity firms to sell its insurance software provider Applied Systems Inc for more than $1 billion, three people familiar with the matter said on Monday.  ID:nL2N0JB00Y  * At least six major private equity groups are competing to buy the industrial packaging segment of Illinois Tool Works Inc ITW.N , in a deal that could fetch more than $3 billion, according to people familiar with the matter.  ID:nL2N0J71II  * One of the biggest proposed law firm mergers of the year, between the California-based Orrick Herrington & Sutcliffe and Pillsbury Winthrop Shaw Pittman in New York, has been called off, the leaders of the two firms told Reuters Monday. ID:nL2N0JA1AP  * Intel Corp  INTC.O  is trying to sell its yet-to-launch Internet television service for $500 million and wants to complete a deal by year-end, Bloomberg reported on Monday,  citing unnamed sources.  ID:nL2N0JA20Y  * U.S.-based generic drug maker Mylan Inc  MYL.O  and two Indian pharma companies are in the race to acquire Chennai-based Bafna Pharmaceuticals  BAFP.NS , which makes haemoglobin drug Raricap among other products, the Economic Times reported on Monday, citing two people privy to the deal. (http://r.reuters.com/zuz84v) * German pharmaceutical group Bayer  BAYGn.DE  is preparing a bid to acquire Algeta  ALGETA.OL , its partner for its prostrate cancer treatment Xofigo, German newspaper Frankfurter Rundschau reported on Tuesday, citing internal documents it obtained.  ID:nL5N0JB0SM  * Spain's industry minister and executives and shareholders from Spanish oil major Repsol  REP.MC  are in Argentina to negotiate with the government over compensation for YPF YPFD.BA , three sources told Reuters on Monday.  ID:nL5N0JA42N  * The buyout firms bidding for talent agency IMG Worldwide Inc have all secured partnerships with other companies in the sector after KKR & Co LP  KKR.N  exited an auction seen fetching more than $2 billion, according to people familiar with the matter.  ID:nL2N0JA11E  For the deals of the day click on  DEALS/  For the Morning News Call-EMEA newsletter click on EMEA/MNC  (Compiled by Nitin S J in Bangalore) ((nitin.sj@thomsonreuters.com)(+91 80 674 96535)(Reuters Messaging: nitin.sj.thomsonreuters.com@reuters.net)) Keywords: MARKET CHATTER/