Deals of the day -- mergers and acquisitions
Dec 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:
** U.S. conglomerate General Electric Co has agreed to buy the aviation business of Italy's Avio for $4.3 billion, in a sign of confidence about the country's underlying strength despite its deep recession.
** Aviva, Britain's No. 2 insurer, has agreed to sell its U.S. business for $1.8 billion, far less than it paid for it and the biggest disposal so far in a reorganisation aimed at boosting its underperforming share price.
The company is being bought by Athene Holding, a specialist life insurer majority-owned by U.S. private equity company Apollo, Aviva said on Friday.
** Industrial machinery maker Gardner Denver Inc has ended talks with SPX Corp and has invited the private equity firms that made offers for the company to re-engage in a sale process, a source familiar with the matter said on Friday. Continued...