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Deals of the day-Mergers and acquisitions

Sept 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1200 GMT on Tuesday:


** Drilling rig contractor Transocean Ltd said it would acquire peer Ocean Rig UDW Inc in a cash-and-stock deal valued at about $2.7 billion, including debt.


** Shares in Abu Dhabi Commercial Bank and Union National Bank surged after they said they were in three-way merger talks that included Al Hilal Bank in a deal that could form a lender with $113 billion in assets.

** Investa Office Fund said that Canada-based Oxford Properties Group had offered A$3.3 billion ($2.4 billion) for acquiring the property manager, edging out an earlier offer from private equity firm Blackstone Group.


** U.S.-Israeli billionaire Shari Arison said she will sell off her controlling stake in Israel's largest bank, Hapoalim , to the public after failing to find a strategic partner to share control of the business.


** The Chinese government is exploring a merger of two of the nation's top wireless carriers - China Unicom and China Telecom - to speed up the development of 5G mobile services, Bloomberg reported, citing people familiar with the matter.


** Shares of French re-insurer Scor surged after its board turned down a friendly takeover offer from privately held insurance company Covea, with investors anticipating that a higher bid would materialise.


** Switzerland's SIX has agreed to take over Germany's Swiss Euro Clearing Bank GmbH, which connects the main euro clearing systems and processes payment transactions in euros for banks and financial institutions in Switzerland and Liechtenstein.


** Dai-ichi Life Holdings Inc said it would buy Suncorp Life, an Australian life insurance unit of Suncorp Group Ltd, for A$640 million ($460 million), in the latest overseas expansion for a Japanese insurer grappling with a shrinking domestic market.


** ICU Medical Inc's new offer to buy British engineering firm Smiths Group Plc's medical division for 2.8 billion pounds ($3.60 billion) was rejected by Smiths' board, Sky News reported.

** A private equity fund run by Goldman Sachs Asset Management (GSAM) has bought a minority stake in multi-strategy hedge fund firm LMR Partners, one source familiar with the matter said.


** Castlelake LP, a U.S.-based investment fund, is planning to acquire stakes in distressed Brazilian sugar and ethanol companies, a source with direct knowledge of the plans said. (Compiled by Manogna Maddipatla in Bengaluru)