Deals of the day -- mergers and acquisitions
Oct 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
** Target Corp said on Tuesday it had struck a deal to sell its credit card portfolio to TD Bank Group, finding a buyer nearly two years after the retailer first said it wanted to sell the business.
TD Bank will pay an amount equal to the gross value of the outstanding receivables when the deal closes. Right now, the gross value is about $5.9 billion.
** Royal Bank of Canada has agreed to buy the Canadian auto finance and deposit arm of Ally Financial Inc in a $4.1 billion deal to expand its vehicle-lending business at a time when loan growth overall is slowing in the country.
** The German government is pressing ahead with its plan to buy a stake in Airbus parent EADS from Daimler , after this month's collapse of a merger plan with BAE, and has asked parliament to free up funds for the purchase.