Popular photo sharing service Snapchat turned down a USD3 billion acquisition bid from social media giant Facebook, saying the company will not start considering offers until next year.

Khazanah Nasional Bhd, Malaysia's state investment firm, said its insurance arm has completed the $252 million purchase of a 90 percent stake in Turkish insurer Acibadem Saglik ve Hayat Sigorta.

New York-based International Business Machines (IBM) bought mobile security firm Fiberlink Communications for an undisclosed amount to amp up its poorly-rated mobile device management (MDM) solution.

Fairholme Capital Management announces proposal for purchase of insurance businesses from Fannie Mae and Freddie Mac

The world's largest retailer is likely to provide an update on its layaway program's results and on early indications of whether shoppers are taking to its first holiday specials. Wall Street is waiting to see whether Wal-Mart again cuts its fiscal year forecast.

The following bids, mergers, acquisitions and disposals were reported on Wednesday including BNP Paribas, Facebook, Crocs, VTB Capital and Flybe Group.

Crocs Inc, known for its colorful clogs, has hired investment bank Moelis & Co to explore strategic alternatives, including a leveraged buyout, two people familiar with the matter said on Wednesday.

Bedlam Asset Management, a London-based fund manager founded by former Credit Lyonnais Securities Asia managing director Jonathan Compton, would be closing shop after chief executive officer Ian McCallum quit without notice last October.

A total of USD3.9 million was raised in a Series A funding round for Scoopshot by lead investors Conor Venture Partners and the Finnish Industry Investment and the startup's existing investors.

The first office tower at Ground Zero since the September 11, 2001 attacks that destroyed the World Trade Center will open on Wednesday, marking a comeback for the Lower Manhattan site.