GrainCorp. (ASX: GNC), an Australian grains handler, has rejected a $2.9 billion takeover offer from Archer Daniels Midland (NYSE: ADM). It previously had turned down a $2.76 billion offer. www.admworld.com
BC Partners is in talks to sell its 80% stake in Turkish supermarket chain Migros Ticaret for more than £1 billion to Wal–Mart Stores (NYSE: WMT), according to The Daily Telegraph. www.migroskurumsal.com
Juniper Networks (Nasdaq: JNPR) has acquired Contrail Systems, a Sunnyvale, Calif.-based developer of a virtualized network control solutions, for $176 million. Contrail raised $10 million in Series A funding earlier this year from Khosla Ventures and an undisclosed strategic backer. www.contrailsystems.com
Legg Mason (NYSE: LM) has agreed to acquire European hedge fund-of-funds manager Fauchier Partners from BNP Paribas. No financial terms were disclosed. www.leggmason.com
Sprint Nextel Corp. (NYSE: S) has offered to acquire the 48% stake of Clearwire Corp. (Nasdaq: CLWR) that it doesn’t already own, for $2.1 billion (or $2.90 per share – which is below where the stock traded following the announcement). www.clearwire.com
Tieto, a Helsinki-listed IT services provider, has agreed to sell its Italian and Spanish operations to GEA Enterprises. No financial terms were disclosed, except that the relevant assets generated €32 million in 2011 revenue. www.tieto.com
Societe Generale has agreed to sell a majority stake in its Egyptian business to Qatar National Bank for $1.97 billion. www.societegenerale.com
Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com
