(Adds Novartis , Investcorp, Sony)
May 17 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 1600 GMT on Tuesday:
** Novartis NOVN.S is splitting its pharmaceuticals
division into two business units, one focused on cancer and the
second on other drugs, while switching out its current pharma
head in the second high-profile management reshuffle this year.
State-controlled Petroleo Brasileiro SA PETR4.SA plans
to sell 5- and 10-year dollar-denominated bonds as early as
Tuesday, alongside a repurchase of up to $3 billion of debt due
in 2018, in an effort by the debt-laden Brazilian oil producer
to cut repayment risk in coming years. Office Depot Inc ODP.O said on Monday it was
considering selling some of its European operations, nearly a
week after the No.2 office supply chain and bigger rival Staples
Inc SPLS.O called off their merger due to antitrust concerns.
Activist investor Carl Icahn has raised his stake in
American International Group Inc (NYSE:AIG) AIG.N by 5.2 percent, putting
him in a better position to pressure the insurer to split into
three independent companies. Indonesia's Gunawan family is weighing the sale of as
much as an 80 percent stake in its general insurance business,
PT Asuransi Multi Artha Guna AMAG.JK , to Canada's Fairfax
Financial Holdings FFH.TO , sources familiar with the matter
said. Hudson's Bay Co HBC.TO of Canada will expand in Europe
by taking over 20 department stores in the Netherlands, it said
on Tuesday. The U.S. Department of Agriculture has agreed to join the
U.S. government panel that is reviewing state-owned ChemChina's
planned $43 billion acquisition of Swiss seeds and pesticide
maker Syngenta AG SYNN.S , people familiar with the matter said
on Monday. Corvex Management LP disclosed on Monday that it owned
9.9 percent of Pandora Media Inc P.N and urged the internet
music streaming company to explore a sale instead of pursuing a
"costly and uncertain business plan." A trucking company half-owned by Australia's Asciano Ltd
AIO.AX took the port and rail giant to court, demanding
assurance about its future under an A$9.1 billion ($6.7 billion)
buyout of the parent company, a hiccup in the long-running deal.
Hedge fund Paulson & Co cut its stake in the gold-backed
exchange-traded fund SPDR Gold Trust GLD (NYSE:GLD).P in the first
quarter of 2016, a filing with the U.S. Securities and Exchange
Commission showed on Monday. Taiwan has begun reviewing Chinese state-backed Tsinghua
Unigroup's proposals to buy stakes worth nearly $1 billion in
two domestic semiconductor companies, putting the deals under
intense scrutiny of a new government less friendly toward its
giant neighbor. Saudi Arabia's largest lender by assets, National
Commercial Bank (NCB) 1180.SE , plans to expand overseas,
growing its Turkey franchise while exploring new markets
including Malaysia, Indonesia and Egypt, its chairman told
Reuters. U.S. roof building material maker Standard Industries
bought a 29.1 percent stake on Saturday in the roof tile maker
in Germany's Braas Monier BMSA.DE . State Bank of India SBI.NS said on Tuesday it was
seeking to merge operations of five of its subsidiary banks with
itself, marking the first move of consolidation in the nation's
state-run banking sector. Bahrain Telecommunications Co (Batelco) BTEL.BH has
submitted a bid for Maltese telecoms company Go, the Bahraini
firm said on Tuesday. Investment firm Investcorp Bank INVB.BH is exploring a
sale of Polyconcept, hoping a deal will value the world's
largest supplier of promotional products at more than $1.3
billion, including debt, according to people familiar with the
matter. Japan's Sony Corp 6758.T said it plans to build up its
artificial intelligence business and eventually turn it into a
major revenue source, beginning with an investment in a U.S.
start-up. The electronics maker has invested an undisclosed sum
in California-based Cogitai.