Deals of the day- Mergers and acquisitions
(Adds Pepco Holdings, Nippon Life Insurance, Heartland Food, Al Raya, Syngenta, updates Tesco, RSA, Encana)
Aug 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
** Zurich Insurance made a friendly 5.6 billion pound ($8.8 billion) takeover proposal for British rival RSA on Tuesday, paving the way for one of Europe's biggest insurance deals.
** The Public Service Commission of the District of Columbia on Tuesday denied Exelon Corp's $6.8 billion bid for Pepco Holdings Inc, possibly delivering a knockout blow to the deal.
** British retailer Tesco has received three separate binding bids for its South Korean unit from a consortium of Affinity Equity Partners and KKR & Co, Carlyle Group LP, and MBK Partners, people familiar with the matter said.
The bids have come in at around the 7 trillion won ($5.9 billion) mark, one of the people said, adding that Tesco is likely to pick a preferred bidder as early as this week. Continued...