Deals of the day- Mergers and acquisitions

Tue Feb 17, 2015 8:44am EST
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(Adds Fosun, Orix, Toll and Hypo Real Estate; updates Caixabank and Kintetsu)

Feb 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:

** Fairfax Financial Holdings Ltd, the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit Plc for about $1.88 billion to become one of the top five underwriters on the Lloyd's of London market.

** Japanese freight carrier Kintetsu World Express Inc is buying Singapore's APL Logistics for $1.2 billion, paying a higher-than-anticipated price for an overseas deal at a time of slow domestic growth.

** Spain's Caixabank SA bid for full control of Portugal's third-largest lender, Banco BPI SA, and confirmed plans to pursue an acquisition of state-rescued Novo Banco to challenge for market leadership in the country.

Analysts and investors broadly welcomed a move which placed a billion euro ($1.1 billion) valuation on the outstanding 56 percent stake in BPI that Caixabank does not own.   Continued...