The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1000 GMT on Wednesday:

** Germany's Merck KGaA and India's Dr. Reddy's Laboratories Ltd have struck a deal to develop cheap versions of biotech cancer drugs, seeking to tap into a new market as patents on biotech medicines expire.

** Italian insurer Unipol intends to press ahead with plans to merge with Fondiaria-SAI but will not accept certain conditions proposed by its troubled peer, as it takes time to iron out a deal that would create Italy's No. 2 insurer.

** British military equipment maker Chemring said it would sell its marine interests to Drew Marine for 32 million pounds ($49.19 million) to help it cut debt, buy back shares and fund pension liabilities.

This article is copyrighted  by Reuters