Deals of the day -- mergers and acquisitions
July 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:
** U.S. drugmaker Perrigo agreed to buy Elan for $8.6 billion on Monday in a deal that will hand it tax savings from being domiciled in Ireland and royalties from a blockbuster multiple sclerosis treatment.
** Dutch telecom group KPN's biggest shareholder America Movil has ended an agreement to keep its holding below 30 percent, a sign it may bid for the whole company.
Mexican billionaire Carlos Slim's company, which owns 29.8 percent of KPN, was entitled to end the agreement after Spain's Telefonica bid 8.1 billion euros ($10.7 billion) for KPN's German mobile arm E-Plus, KPN said.
** PPG Industries Inc has agreed to sell its $1.73 billion controlling stake in Transitions Optical, the inventor of modern variable-tint plastic lenses, to business partner Essilor International, PPG said. Continued...