Deals of the day -- mergers and acquisitions
June 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2010 GMT on Wednesday:
** British mobile firm Vodafone is pursuing Kabel Deutschland after having an initial 7.2 billion euro ($9.6 billion) bid proposal knocked back by Germany's biggest cable operator, sources close to the matter said on Wednesday.
** India's Apollo Tyres Ltd agreed to buy U.S.-based Cooper Tire & Rubber Co for about $2.5 billion in a deal that would make it the world's seventh-largest tire maker and reduce its dependence on a slowing Indian auto market.
** Hedge funds that bet Severn Trent would agree to a Canadian-led takeover are reeling from losses after the water company refused to talk, casting further doubt on their money-making abilities in an anemic M&A environment.
** Proxy advisory firm Institutional Shareholder Services (ISS) has recommended Sprint Nextel Corp shareholders vote for SoftBank Corp's revised offer, after the Japanese mobile operator sweetened its buyout terms. Continued...