Deals of the day -- mergers and acquisitions

May 15
7:05 AM 2012

The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1030 GMT on Tuesday:

** Fragrance company Coty Inc withdrew its $10.7 billion takeover bid for Avon Products Inc on Monday, saying the world's largest cosmetics direct seller had missed a deadline to start discussing a deal that Coty first proposed in March.

** Developer Orco Property Group ORCOsp.PR said it has sold the Radio Free Europe office building in Prague to U.S. company L88 for $94 million.

** News Corp has agreed to buy a stake in Chinese movie distributor Bona Film Group Ltd, becoming the latest U.S. media company to expand into China's booming movie market. News Corp will take a 19.9 percent stake in Bona Film from founder and chief executive Yu Dong, Bona said in a statement.

** Indebted Danish shipping company Torm A/S has agreed to sell its half of a joint venture that owns the product tanker vessel Torm Ugland and will book a loss of about $5 million on the sale, the company said on Tuesday.

This article is copyrighted by Reuters

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