Hong Kong-based Shuanghui International Holdings intends to offer a counter bid for Spanish meat processor Campofrio. Mexican food company Sigma Alimentos earlier offered Campofrio a takeover deal worth EUR695 million.

Australia-based gas and oil explorer Octanex said the main reason for its merger with Peak Oil & Gas was the latter's access to exploration projects in the Philippines and in Indonesia.

Charter Communications Inc is raising USD25 billion in debt to fund the acquisition of Time Warner Cable Inc, according to a source familiar with the matter.

German bank Deutsche Bank AG is reportedly negotiating the sale of Tilney Investment Management to British private equity firm Permira. Permira has beaten other rival bidders for Tilney, including Brown Shipley & Co.

Bankruptcy judge Sean Lane dismissed a private effort to block the merger between US Airways and AMR Corp and gave the clearance to allow the transaction to proceed.

The wider acceptance of bitcoins reportedly brought its trading value at over the USD 1,000 mark on Mt. Gox, encouraging speculators to grab their share of the virtual currency.

Although Bitcoin and gold are driven by the same demand for alternative currencies, one fared better than the other. Wall Street Journal said investors are rushing to invest in Bitcoin as gold loses its appeal.

In its APK Teardown of the Android YouTube app, the website Android Police found "Music Pass" that hints of a possible launch of a YouTube music subscription service.

New York-based web tools and service maker Betaworks is raising a new USD20 million round of financing to build more useful services, according to the company's Chief Executive Officer.

Japanese chipmaker Toshiba offered to acquire solid-state hard drive maker OCZ Technology Group Inc. in a planned bankruptcy proceeding. The California-based company will immediately file for bankruptcy and liquidate if the deal with Toshiba falls apart.