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    New York-listed Willis Group Holdings  has agreed to offer about $8.34 billion-worth of shares for Towers Watson (TW) in a deal which will fold reinsurance, insurance brokerage, risk advisory and other professional services into an entity with about $8.2 billion of annual revenue. Willis, of London, said on Tuesday that it will offer 2.6490 of its shares for each share in Nasdaq-listed Towers Watson.

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    Orbital ATK (OA) might be the short-term beneficiary of a weekend explosion of a Space Exploration Technologies rocket that was headed to the International Space Station. But fallout from this most recent crash and others before it could hinder Orbital ATK's longer-term efforts to gain share in the launch business, while complicating the outlook for other companies that rely on these rockets.

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    The US Airline Pilots Association, chastened by an unfavorable U.S. Appeals Court ruling, said its merger committee will withdraw from negotiations intended to create a pilot seniority list at American Airlines (AAL), The 2-1 ruling Friday by a panel of the Ninth Circuit U.S. Appeals Court determined that USAPA violated its duty of fair representation to former America West pilots.

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    Kohlberg Kravis Roberts& Co. will pay $30 million in fines to the U.S. Securities and Exchange Commission, including a $10 million penalty, for misallocating more than $17 million in so-called "broken deal" expenses in its private equity funds. KKR is a publicly traded private equity firm that specializes in buyouts and other merger and acquisition transactions.

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    Cisco Systems Inc. (CSCO) announced on Tuesday that it will buy boutique security company OpenDNS for $635 million as it looks to bolster its cloud-security and Internet-of-Things offerings. Cisco's (CSCO) planned purchase follows its announcement of 15 new Internet-of-Things products on Monday, including 360- degree cameras with digital and audio sensors, and industrial routers. Cisco (CSCO) said the Internet of Things is expected to connect nearly 50 billion everyday items by 2020,...

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    Trian Fund Management LP is known for pushing companies to shrink. But the activist investor wants its latest target to get bigger. Trian has built a stake of 7.24% in Pentair PLC (PNR), a maker of pumps and valves used in everything from oil refineries to backyard pools, and is asking the company to consider buying up rivals in an effort to consolidate the fragmented market for the specialized parts, according to people familiar with the matter.

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    United Airlines on Tuesday said it purchased a $30 million stake in alternative fuels developer Fulcrum BioEnergy Inc in a deal designed to meet part of its fuel needs and hedge against future oil price volatility and carbon regulations.

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    Emerson Electric Co. (EMR) on Tuesday said it would spin off its network power business and consider other transactions, a year after the company launched a strategic review. Louis company expects to complete the spinoff of Network Power by the end of September 2016. The separate, publicly traded business will be better positioned to respond to evolving market dynamics, Emerson said. The unit has been one of Emerson's five operating segments, through which the company designs and...

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    ConAgra Foods Inc (CAG), the maker of Slim Jim beef jerky and Chef Boyardee pasta, said it would exit its struggling private label foods business and reported a 3.7 percent rise in quarterly sales. ConAgra's move to exit the private label foods business comes two years after its $5-billion acquisition of Ralcorp, which made it the biggest U.S. maker of foods sold under supermarket brands.

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    General Electric Co (GE) said it would sell its European private equity financing business to a unit of Japan's Sumitomo Mitsui Banking Corp for about $2.2 billion as the U.S. conglomerate sheds financial assets amid a restructuring. The portfolio represents about $2.2 billion of total invested capital, GE said on Tuesday.

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    Buyout group Clayton Dubilier & Rice is pressing ahead with preparations for a potential stock market listing in the United States of German packaging group Mauser and has picked banks to organise the transaction, two sources familiar with the matter said.

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    Germany's cartel office would scrutinise any proposed asset swap between Vodafone (VOD) and Liberty Global (LBTYA) in Europe's biggest economy, it said on Tuesday. Vodafone (VOD) and Liberty have begun talks on swapping selected assets. "We would look at it closely," cartel office President Andreas Mundt told journalists when asked about a possible combination of cable and mobile assets in Germany.

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    Cenovus Energy Inc (CVE), Canada's second-largest independent oil producer, said on Tuesday it has agreed to sell its portfolio of oil and gas royalty properties to Ontario Teachers' Pension Plan for about C$3.3 billion. "We believe this agreement captures significant value for Cenovus shareholders from our royalty and fee lands business," said Cenovus Chief Executive Officer Brian Ferguson.

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    - General Electric Co (GE) said it would sell its European private equity financing business to a unit of Japan's Sumitomo Mitsui Banking Corp for $2.2 billion. GE Capital will retain its $1 billion investment in the European Senior Secured Loan Program and European Loan Program, both joint ventures between affiliates of GE Capital and affiliates of Ares Capital, GE said on Tuesday.

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    General Electric Co (GE) said it would sell its European private equity financing business to a unit of Japan's Sumitomo Mitsui Banking Corp for $2.2 billion. GE Capital will retain its $1 billion investment in the European Senior Secured Loan Program and European Loan Program, both joint ventures between affiliates of GE Capital and affiliates of Ares Capital, GE said on Tuesday.

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    Canadian oil producer Cenovus Energy Inc (CVE) said it would sell its royalty business, Heritage Royalty Limited Partnership, to Ontario Teachers' Pension Plan. The decision to sell the business was made after considering several alternatives including an initial public offering, Cenovus said in a statement on Tuesday. Cenovus said it expects gross cash proceeds of about $3.3 billion.