CORRECTED-Deals of the day- Mergers and acquisitions
(Corrects to "General Electric Capital Corp" from "General Electric Co" in second-last item. Also corrects ticker symbol to from )
Dec 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:
** Two large British public sector pension funds on Tuesday said they planned to combine their more than 10 billion pounds ($16 billion) in assets to save costs and boost performance. The Lancashire County Pension Fund and London Pensions Fund Authority said they would both retain their separate identity and local accountability, but that the tie-up would ultimately cover all areas of activity, including pension administration.
** Arizona Chemical Holdings Corp, the largest producer of pine chemicals used in fragrances, plastics and household cleaners, is exploring a sale that could value it at over $1.5 billion, including debt, according to people familiar with the matter.
** British insurers Aviva and Friends Life said on Tuesday their boards have agreed to the terms of their recommended all-share merger, creating a market leader with 16 million life insurance customers.