October 7, 2014 / 10:03 AM / 3 years ago

Deals of the day- Mergers and acquisitions

(Adds National Australia Bank, Hewlett-Packard, UPS; updates Mahindra & Mahindra)

Oct 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:

** Rio Tinto rejected a merger approach from smaller rival Glencore Plc to create a $160 billion mining and trading giant in August just as the price of its most profitable product, iron ore, slid toward a five-year low.

** National Australia Bank’s wealth management division has acquired a stake of nearly 75 percent in London-based fund Orchard Street Investment Management in a deal worth 4 billion pounds ($6.42 billion), the Australian Financial Review reported.

** Private equity buyout firm TPG has approached troubled British grocer Tesco Plc to buy its data gathering and analysis subsidiary Dunnhumby, which is worth well over 2 billion sterling, the Sky News reported on Monday.

** Occidental Petroleum Corp, the fourth-largest U.S. oil and gas producer by market capitalization, is looking to sell its North Dakota oil assets for as much as $3 billion as the company seeks to focus on profitable regions, Bloomberg reported on Monday.

** Hewlett-Packard Co has sold its 40 percent stake in United Arab Emirates-based Injazat Data Systems for an undisclosed amount to its investment partner, Abu Dhabi state-owned fund Mubadala.

** Mahindra & Mahindra Ltd, India’s largest utility vehicle maker, is in exclusive talks to buy a 51 percent stake in the world’s oldest maker of motorised two-wheelers from France’s PSA Peugeot Citroen. Mahindra will subscribe to a 15 million euros ($18.9 million) capital increase to finance the projects.

** United Parcel Service Inc the world’s biggest courier company, said it bought i-parcel LLC to strengthen its business in the fast-expanding global e-commerce market. Terms of the deal were not disclosed.

** Tokyo Electric Power Co (Tepco) and Chubu Electric Power Co have entered final talks on a comprehensive joint venture in fossil fuel procurement and electricity generation, the companies said.

** Norwegian fertilizer firm Yara International said on Tuesday it had fired chief executive Joergen Ole Haslestad and that its merger talks with rival CF Industries would continue under the leadership of its finance chief.

** Indian paper manufacturer Ballarpur Industries Ltd said International Finance Corp (IFC) agreed to buy new shares worth $100 million in its unit Bilt Paper BV.

$1 = 0.79 euro $1 = 0.62 British pound Compiled by Anet Josline Pinto in Bangalore

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