Deals of the day -- mergers and acquisitions
July 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:
** Buyout firms have a record level of expiring funds this year, raising the prospect that many will have to ask investors for more time to do deals or not use the money at all. Advisory firm Triago says that $145 billion of so-called dry powder - money pledged by investors, typically for set periods of time - is due to be spent in 2013. Triago estimates that 10 percent of the $145 billion will remain uninvested.
** Dell Inc founder Michael Dell pushed for easier voting rules to help him win his battle to take the PC maker private and offered a token 10 cents more per share to sweeten his $24 billion bid.
** KKR & Co LP on Tuesday secured the cheapest borrowing rates it ever got to fund a leveraged buyout, which could cut hundreds of millions of dollars from interest it will pay to finance its $3.9 billion takeover of Gardner Denver Inc , banking sources said.
** Israeli holding company IDB Development Corp is in advanced talks to sell a 30 percent stake in Clal Insurance to a group of investors based in China at a company valuation of 4.6 billion shekels ($1.3 billion).