Instinet to Acquire Island ECN

A bidding war may be brewing for TRW, and more merger news

Electronic-trading company Instinet Group (INET ) says it will acquire rival Island ECN in a $508 million deal. (6/10)

BAE Systems Plc reportedly says it is in talks with TRW Inc. (TRW ) about expanding its defense business in North America. Northrop Grumman (NOC ) has aleady offered $6.7 billion to acquire TRW, and is considering whether or not to raise that bid. (6/10)

Kinross Gold (KGC ) agreed to buy two smaller rivals, TVX Gold (TVX ) and Echo Bay Mines (ECO ), for $1.56 billion in stock. (6/10)

News Corp. (NWS ) and Vivendi Universal (V ) have inked a pact whereby a group of investors headed by News Corp. will buy Vivendi's Italian pay-TV business for total of about 1 billion euros. (6/10)

Silverstream Software (SSSW ) agrees to be acquired by Novell (NOVL ) via a cash tender offer valuing SSSW at $9 per share. (6/10)

EarthLink (ELNK ) says it will buy PeoplePC (PEOP ) via a cash tender offer of 1.71 cents per share (subject to adjustment), or $10 million. (6/10)

USA Interactive (USAI ) says it will delay its announced plans to spend $4.5 billion to buy the portion of its majority-owned subsidiaries Expedia (EXPE ), Ticketmaster (TMCS ), and (ROOM ) that it doesn't already own, because USAI stock has fallen after the announcement. (6/6)

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