Aviva's potential 5.6 billion pound ($8.8 billion) purchase of Friends Life reflects a need to consolidate and cut costs in Britain's insurance industry, fund managers said.
Deals
Fashion chain Gap in deal with online retailer Zalando
Gap Inc (GPS.N) has struck a deal with Europe's largest dedicated online fashion retailer Zalando (ZALG.DE) to sell its core brand from next May, hoping to reach more consumers, particularly in markets where it has no physical stores.
RenaissanceRe to buy Platinum Underwriters for $1.9 billion
RenaissanceRe Holdings Ltd (RNR.N) said it would buy fellow Bermuda-based reinsurer Platinum Underwriters Holdings Ltd (PTP.N) for about $1.9 billion to boost its U.S. business.
Visteon eyes $3.6 billion sale of South Korean unit: reports
U.S. automotive parts maker Visteon Corp (VC.N) has signed a preliminary deal to sell its controlling stake in South Korea's Halla Visteon Climate Control Corp (018880.KS) to a local private equity firm for $3.6 billion, Korean media reports said.
Dalian Wanda moves closer to $6 billion HK IPO with China regulator approval: IFR
Chinese real estate developer Dalian Wanda Commercial Properties, a unit of billionaire Wang Jianlin's Dalian Wanda Group, has received approval from Chinese regulators to move ahead with an initial public offering in Hong Kong worth up to $6 billion, IFR reported, citing people familiar with the deal.
Latest News
A planned merger by Switzerland's Holcim Ltd and France's Lafarge to create the world's biggest cement maker might hurt competition in India, the country's antitrust regulator said on Saturday, asking the firms for more details.
Swiss authorities have given Darwin Airline until the end of January to answer more questions about Etihad Airways' plans to buy a third of the Swiss airline before it gives the deal the green light.
SGL Group, the materials supplier for carbon fiber reinforced parts in BMW's electric cars, is in talks with several other carmakers to supply carbon fiber for a wider range of automotive components, its chief executive said.
ThyssenKrupp would consider a sale of the group's military submarine business under certain conditions, the German steel maker's chief executive told daily Sueddeutsche Zeitung.
Australia said on Sunday it would list state-owned health insurer Medibank Private Ltd (MPL.AX) with a market capitalization of A$5.679 billion ($4.9 billion), exceeding the top end of a range indicated in its IPO filing a month earlier.
Mergers and acquisition deals announced so far this year have topped $3 trillion, the highest since 2007, helped by mega deals in the healthcare, energy and power sectors.
Halliburton Co's $35 billion takeover of Baker Hughes Inc will create an oilfield services powerhouse in North Dakota with more than half the cementing market and a leading position in fracking, according to data seen by Reuters.
Brazil's JBS SA (JBSS3.SA), the world's largest beef exporter, said on Friday its $1.25 billion purchase of Australian processed foods producer Primo Smallgoods would increase its presence in Asia.
The Chinese government and banks will finance Chinese companies to build $45.6 billion worth of energy and infrastructure projects in Pakistan over the next six years, according to new details of the deal seen by Reuters on Friday.
