Deals of the day -- mergers and acquisitions

Tue Aug 27, 2013 4:04pm EDT
 
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Aug 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** China's Ministry of Commerce approved the $3.8 billion merger between Taiwanese chip designers Mediatek Inc and MStar Semiconductor Inc with conditions on worries about potential monopoly in the television chip market. The Chinese regulator said the two companies cannot collaborate in the liquid crystal display TV chip segment and MStar's subsidiary that operates the LCD TV chip business would have to remain an independent entity. Only the smartphone chip and other business related to wireless communications will be merged into Mediatek.

** BlackBerry Ltd is considering spinning off its messaging service into a separate unit, the Wall Street Journal said on Tuesday, quoting people familiar with the matter. The subsidiary would be called BBM Inc, the newspaper said.

** Generic drugmaker Akorn Inc will buy rival Hi-Tech Pharmacal Co Inc for $640 million to expand its eye drug portfolio to oral liquids and ointments.

  Continued...