Private equity firm Centerbridge Partners will pay $3.3 billion and assume about $1.7 billion in debt should it acquire bankrupt telecommunications company LightSquared Inc. Centerbridge and LightSquared were said to have reached a tentative takeover deal.

Celesio's supervisory and management board on Wednesday recommended shareholders to approve the $8.3 billion buyout offer from US drug distributor McKesson Corp. Elliott Management Corp, one of Celesio's shareholders, earlier refused McKesson's offer.

UK-based investment fund Pearson Affordable Learning Fund has backed Delhi-based education startup Avanti Learning Centres to develop a system that will help students from low-income families prepare for college entrance tests.

San Mateo, California-based firm American Efficient launched today with a $2.5-million funding it received from Clean Pacific Ventures to help US residents switch to renewable energy products and suppliers.

San Francisco-based mobile game business engine Playhaven and mobile analytics firm Kontagent have decided to merge in an all-stock deal is said to be worth hundreds of millions of dollars.

Manhattan-based private equity and investment firm Wasserstein & Co completed its $340-million purchase of Hauppauge-based satellite communications systems provider Globecomm Systems.

Canada Pension Plan Investment Board, one the country's top pension funds, has purchased a 15% stake in Orpea. CPPIB paid €320.8 million for the minority stake in the French nursing home company.

US-based mobile payments company Square has made its second acquisition in a week with the purchase of Evenly, an app that helps users share expenses, in a deal with undisclosed financial terms.

San Francisco-based smart kitchen company The Orange Chef has received $1.2 million in funding from Google Ventures and Sparklabs Global Ventures to develop more connected kitchen devices.

San Francsico-based sales analytics startup ToutApp received $3.35 million in funding from Sigma West Ventures to optimize email communication and add more employees to its team.

CANGENE CORP CNJ.TO SAYS CREDIT SUISSE SECURITIES (CANADA), INC. IS ACTING AS FINANCIAL ADVISOR TO CANGENE

The following bids, mergers, acquisitions and disposals were reported on Wednesday, including Fortum, National Vision, Saipem, CTT, MTS, Southern Pacific, Warrnambool, Verbund, Bakkafrost, Popular and Marathon Oil.

Fortis Inc. announced today that it has entered into an agreement and plan of merger to acquire UNS Energy Corporation for US$60.25 per common share in cash

Idea Cellular board director Sanjeev Aga exited from his 5,000 shares in the Indian mobile network operator for INR8.81 lakh. Aga has been credited for launching Idea Cellular.

South Korea's Financial Services Commission on Wednesday cleared MBK Partners' $1.75 billion acquisition of ING Groep's Korean insurer. MBK bought 8.2 million shares in ING Life Korea.

Cloud-based data management startup Rosslyn Analytics raised £2.1 million in a funding round joined by Amati Global Partners and IQ Capital. Rosslyn also eyes a listing on AIM early next year.

London-based broadcaster ITV Plc has sold its remaining 6.79% stake in Scotland-based broadcaster STV for £7.5 million, severing a shareholder relationship that goes back to the 1990s.

Vice Media has bought New York-based digital company Carrot Creative to experiment with ways to distribute its editorial content, in a deal valued between $15 million to $20 million, according to a source familiar with the transaction.

Investment banks Macquarie Group and UBS AG managed to raise $521.2 million in Australian insurer Cover-More's listing. Shares offered are priced at $2 per share and will start trading before the year ends.

Hollywood actor Leonardo DiCaprio has invested an undisclosed amount in Monaco-based electric car startup Venturi Automobiles and co-founded a new electric racing team which will compete in the Formula E series next September.

Internet giant Yahoo Inc. could raise around $36 billion should it decide to divest its entire 24% stake in Chinese e-commerce company Alibaba. Yahoo will be forced to sell much of its stake if and when Alibaba sells its shares in an IPO.

Discovery Communications is looking to buy Food Network majority owner Scripps Networks Interactive. The possible deal could bring in a combined market capitalization of $43 billion.

Australia-based dairy firm Bega Cheese's offered to merge with Murray Goulburn to to preserve the Australian ownership of Warrnambool Cheese and Butter (WCB), amid a three-way bidding contest with Saputo for WCB.

BBX Capital Corporation announced its acquisition of Florida-based premier chocolate product provider Hoffman's Chocolates, including its subsidiaries Good Fortunes and Boca Bons, for an undisclosed sum.

Lakshmi Mittal, chief executive officer of ArcelorMittal, is negotiating with infrastructure company GMR Group to acquire a stake in Delhi Daredevils. The cricket team plays in the Indian Premier League.

China Cinda Asset Management Co, one of the country's state-owned bad bet managers, has raised $2.4 billion in its Hong Kong listing. Proceeds from the deal will be used to enhance its distressed asset management business.

Australia's Federal Treasurer Joe Hockey has granted approval of the Chinese company Yanzhou Coal's takeover of Australian mining firm Yancoal Australia, just two weeks after he rejected a foreign buyout bid for GrainCorp.

Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is investing $250 million in Hines India Real Estate, the Indian unit of American property management firm Hines, according to a source familiar with the investment.

Italian ski wear maker Moncler intends to price its initial public offering at €10.20 per share, the top of its earlier indicated range. The deal will reportedly raise €585 million to €681 million.

CVS Caremark Corp. and Cardinal Health Inc. are looking to set up a joint venture that will be the biggest generic medicines supplier in the US. The said venture will be equally owned by the two drug companies.