A consortium led by CEO Jing Lou and CPEChina Fund Ltd has made a higher bid for 3SBio. 3SBio, a biotechnology company from China that focuses on research, development, manufacture and marketing of biopharmaceutical products, has announced the receipt of a proposal letter from CPEChina Fund LP.

The Australian Competition and Consumer Commission had approved the merger of Virgin Australia and Tiger Australia.

France's Total Oil is in the process of exploring gas in Libya, a sign of the return to normalcy for the Middle East country's oil business.

Asia United Bank is planning to sell 88 million in primary common shares priced at Php 110 per share.

Greek asset sale fund seeks revised bid for Opap SA from Emma Delta. Opap SA values fell after the Greek state asset sales fund sought assistance from Emma Delta, after the latter is the only firm that submitted a valid binding bid for the gambling company.

Onexim is now in discussion as to shareholdings purchase in OAO Rostelecom. Onexim Group, which is owned by Russian billionaire Mikhail Prokhorov, has said it may consider the purchase of a 10.

Canada's Natural Resources Minister reiterated that only 'strategic' and under 'exceptional circumstances' would state backed enterprises be allowed to takeover in Canada.

Alupar IPO in Sao Paulo raises nearly US$421 million. The Brazilian electricity transmission and generation company, Alupar Investimento SA had raised nearly US$421 million in the first initial public offering in South America, It is the first utility to do so since the Lehman Brothers bankruptcy in 2008.

CA Technologies confirms news reports that it has acquired Layer7 Technologies. A VentureBeat report was confirmed by Reuters of the disclosed plans of CA Technologies to acquire Layer7.

Ayala Corp's Stream Global purchases LBM Holdings of UK for an undisclosed amount. Ayala Corp's outsourcing unit has completed the acquisition of the top business process outsourcing companies in the United Kingdom.