Bright Dairy Makes Highest Offer for Yoplait

China's Bright Dairy & Food has reportedly submitted the highest offer to acquire a 50% stake in Sodiaal which owns the Yoplait yogurt brand, valuing the business at Euro 1.7 billion. The 50% shareholding in Sodiaal is being sold by French private equity group PAI Partners. However it is not yet clear if paying the highest price will be sufficient for Bright Dairy to prevail in this situation.

Lin & Fung Acquires Wear Me Apparel

Hong Kong listed consumer goods sourcing group Li & Fung is acquiring Wear Me Apparel in the U.S. for approximately USD 400 million. Wear Me designs and sells clothes for primarily children and young men under its Kids Headquarters label as well as under the Calvin Klein, Timberland and Rocaware brands, with annual revenues of about USD 700 million. Li & Fung says that it will continue to look for other potential acquisitions.

PerkinElmer Acquires Sym-Bio Lifescience in Shanghai

PerkinElmer (NYSE:PKI) has acquired Sym-Bio Lifescience, a supplier of diagnostic products to hospitals in China based in Shanghai for RMB 435 million. Sym-Bio is active in the infectious diseases area and has manufacturing in the Shanghai area. PerkinElmer said that it is seeking to expand its prenatal and newborn screening business in China.

China's Neusoft Acquires Finnish Mobile Phone Software Business

Chinese information technology solutions company Neusoft is acquiring the mobile phone software development and testing business operations of Sesca Group in Finland. The purchase includes business units in both Finland and Romania which will be integrated with Neusoft's global mobile solutions business. Sesca has been active in the development of software for Symbian, Java, Microsoft and Linux mobile phone platforms.

Hummer Acquisition Still Not Approved By Chinese Government

The acquisition of Hummer by Sichuan Tengzhong Heavy Industrial Machinery Co. from General Motors has still not been approved by China's Ministry of Commerce according to Xinhua. In its application Tengzhong has reportedly only said that it plans to buy the Hummer brand and it is unclear if any technology or other assets will be purchased.

Yanzhou Coal Plans to Acquire Felix Resources in Australia

Yanzhou Coal Mining Co., the fourth largest coal producer in China, plans to acquire Felix Resources Ltd. in Australia for approximately A$3.4 billion ($2.9 billion) to increase its coal reserves. Felix Resources owns the Yarrabee, Minerva and Ashton mines and a stake in the Newcastle coal port in Australia.

Sinopec Completes Acquistion of Addax

In China's largest ever foreign takeover, Sinopec has acquired Addax Petroleum. Sinopec spent $7.5 billion so as to acquire petroleum reserves in Africa and the Middle East.

BYD Acquires Bus Manufacturer

The Chinese battery and electric car manufacturer BYD in which Warren Buffett's Bershire Hathaway has invested will acquire bus manufacturer Hunan Midea Coach for RMB 60 million. It also plans to build a new plant with a capacity of 400,000 units annually.

LDK Acquires 70% of Solar Green Technology

Chinese solar wafer manufacturer LDK (NYSE:LDK) has acquired a 70% equity interest in the Italian systems integrator Solar Green Technology SpA. Solar wafers are the principal raw material used to produce solar cells, devices capable of converting sunlight into electricity. LDK's headquarters are located in Xinju, Jiangxi province, China.

Global M&A Volume Down 47.4% in 2009

Mergermarket reports that global M&A volume (number of transactions) fell by 47.4% in the first half of 2009 compared with the same period in 2008 and that the value of transactions declined by 43.6%. European deal volume was the most affacted, falling by 66.1%, while Asia-Pacific M&A was less hit.

Man Group to Acquire 25% of China's Sinotruk

German truck manufacturer Man Group plans to acquire a 25% equity stake in leading Chinese truck manufacturer Sinotruk for Euro 560 million.