1. American International Group (AIG) is suing Bank of America (BAC) for more than $10 billion over losses on mortgage-bond investments, in what may be the largest such lawsuit filed by a single investor.
3. Warren E. Buffett’s Berkshire Hathaway made an unsolicited $3.3 billion offer for reinsurer Transatlantic Holdings (TRH), seeking to top rival bids.
4. Mitsubishi and Rio Tinto (RTP) offered $1.6 billion for shares in Coal & Allied Industries they don’t already own, in a deal to take the Australian coal miner private.
5. Orix Group, a Japanese company that provides services ranging from banking to auto leasing, will invest as much as $1 billion in China over the next two years, with a special focus on water, machinery, and renewable energy projects.l.
6. British oil services company Hunting is paying $775 million for Titan Group of Texas, in anticipation of a 60 percent increase in investment in U.S. onshore drilling over the next five years.
7. Melbourne-based BHP Billiton (BHP) is spending $735 million to buy out its partner in subsidiaries that mine iron ore in Western Australia.
8. Industrial & Commercial Bank of China offered South Africa’s Standard Bank Group $600 million for banking and brokerage assets in Argentina, as part of its global expansion.
9. Ralcorp Holdings (RAH), the maker of Raisin Bran cereal, is paying $545 million for Sara Lee’s (SLE) refrigerated-dough unit to add pizza and toaster pastries to its menu of private-label offerings.
10. A curvaceous 1957 Ferrari 250 Testa Rossa is expected to fetch $13 million, an auction record for a vintage car, when it hits the block in Pebble Beach, Calif., on Aug. 20.