Softbank Corp. announced an agreement to acquire around 70% of Sprint Nextel Corp. (NYSE: S) for $20.1 billion. www.softbank.com
Amazon.com (Nasdaq: AMZN) is in “advanced talks” to acquire the mobile chip business of Texas Instruments, according to Israel’s Calcalist newspaper. No financial terms were reported.www.amazon.com
Siemens AG will not increase its €1.3 billion offer to acquire Italian power plant construction companyAnsaldo Energia, according to the FT. Reports are that state-backed Fondo Strategico Italiano is preparing a rival bid, amid local political backlash. Ansaldo is currently owned by Finmeccanica (55%) and First Reserve Corp. (45%). www.ansaldoenergia.com
Providence Equity Partners has sold its 10% stake in Hulu for $200 million, according to multiple press reports. The buyers were existing media company owners of Hulu: News Corp., Comcast and Disney. Providence had paid $100 million for the position in October 2007. www.hulu.com
Sinopec (HK: 0386) and ENN Energy Holdings (HK: 2688) have pulled their unsolicited $2.2 billion acquisition offer for China Gas Holdings Ltd. (HK: 0384), following opposition from company management and potential regulatory challenges. www.chinagasholdings.com.hk
Santander has abandoned its $2.65 billion deal to acquire 316 British bank branches from Royal Bank of Scotland. The agreement was originally reached in 2010, but ran into repeated difficulties in carving the branches out of RBS. Santander says it pulled out once it became clear that the transaction would not close this year. The FT reports that J.C. Flowers & Co. and Richard Branson’s Virgin Money may now bid for the branches. www.santander.com
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