Deals of the day -- mergers and acquisitions

By Staff Reporter

May 31, 2012 08:40 AM EDT

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

 ** Commodities trader Glencore and miner Xstrata will send details of their long-awaited tie-up to shareholders on Thursday, including a three-year retention package set to be worth tens of millions of dollars for Xstrata boss Mick Davis.

** US Airways Group and private equity firm TPG Capital may team up to bid for American Airlines' parent, AMR Corp, according to people familiar with the discussions.

** Canada's CGI Group Inc said on Thursday it had agreed to buy Anglo-Dutch IT services company Logica for 1.7 billion pounds ($2.64 billion) in a deal to secure more business with blue-chip clients globally.

** Italy's Finmeccanica has agreed to sell its stake in aero-engine parts maker Avio to a state-controlled fund as it presses ahead with plans to sell around 1 billion euros ($1.24 billion) of assets this year to maintain its credit rating.

** Britain's No. 1 insurer Prudential Plc said on Thursday it is buying Swiss Re's U.S.-based life insurance business for $621 million in cash.

** Isuzu Motors Ltd said on Thursday it plans to raise its stake in its joint venture with Russia's Sollers to 45 percent from 29 percent to strengthen its presence in Russia's commercial vehicle market.

** Deutsche Lufthansa AG said on Thursday it has pulled out of a deal to buy Finnair's catering business, because the German company's board did not approve the transaction due to a spending freeze.

** Swiss-based trader Gunvor, co-owned by a Russian tycoon, has bought a second European oil plant from Petroplus, as trading houses emerge as the biggest winners from the insolvent refiner's asset sale.

** The Turkish government wants to increase the free float rate of Turkey's state-owned lender Halkbank to 49 percent from the current 24.93 percent, Deputy Prime Minister Ali Babacan said at a conference in Istanbul on Thursday.

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