UPDATE 1-Market Chatter — Corporate finance press digest


* MTN Group , Africa’s largest mobile operator, is in talks to acquire Vodacom’s wireless unit in the Democratic Republic of Congo, Bloomberg said on Tuesday, citing two unidentified sources.* U.S. farm equipment maker Agco Corp reiterated its interest in buying Italian group Fiat Industrial’s CNH Global unit, German daily Handelsblatt reported.* El Paso Corp Chief Executive Douglas Foshee does not plan to stay at Kinder Morgan Inc after the pipeline company acquires his employer, a Wall Street Journal report said.* Mattel Inc , the world’s largest toy company, is in talks to buy Hit Entertainment, the British owner of Thomas the Tank Engine, for a little over 500 million pounds ($788.9 million), the Wall Street Journal said, citing people familiar with the matter.* U.S. officials and big banks are working on a plan that would make refinancing available to some borrowers whose houses are worth less than their loans, so long as they are current on mortgage payments, the Wall Street Journal reported.* The Irish government has spoken to Abu Dhabi’s Etihad Airways and International Airlines Group (IAG) about the possibility of buying the state’s 25 percent stake in Aer Lingus , state broadcaster RTE reported on Monday.* Bank of America Corp is selling its 49 percent stake in 4 World Financial Center in Manhattan to Brookfield Office Properties Inc., Bloomberg News reported, citing a person with knowledge of the situation.

Australian court backs Merck’s Vioxx case on appeal


Peterson’s lawyers, Slater & Gordon , said at the time that the move paved the way for similar claims from hundreds of other Australians who had suffered heart attacks after using the medicine.”The court’s decision (on Wednesday) does not foreclose all rights available to class members other than Mr Peterson,” Slater & Gordon said in a statement to the Australian stock market. The firm represents Petersen on a no-win, no-fee basis.”Mr Peterson also has the right to seek special leave to appeal today’s judgment to the High Court of Australia. The parties may also decide to work towards a negotiated settlement,” the statement said.The 93-page judgement would be analysed to decide whether appeal rights available to Peterson should be pursued and how the cases of the remaining class members should be advanced, Slater & Gordon said.Merck’s local arm, MSD Australia, said after the court ruling that it was “satisfied with this outcome”.Merck has set aside a $950 million Vioxx legal reserve amid a probe by U.S. prosecutors in Massachusetts of how Merck had marketed Vioxx — its onetime blockbuster arthritis drug that was recalled in 2004 after being linked to heart risks.Merck agreed in 2007 to pay $4.85 billion to settle lawsuits filed by former Vioxx users, who alleged they had been harmed by the pill.