Monday Papers: Emerging markets M&A outstrips Europe - bid news and gossip

Financial Times

* So far this year, emerging market targeted M&A volume is up by more two-thirds to $575.7bn, while European volume has increased by barely 20% to $550.2bn, according to data from Dealogic.

* New proposals to regulate hedge funds and private equity funds in Europe could be a “catastrophe” for the venture capital sector, industry figures warn.

* Steve Roder, the finance chief of AIA who quit the pan-Asia life insurer when it looked like it would be sold to the UK’s Prudential, plans to launch a Hong-Kong-based reinsurer that would seek to raise $500m-$1bn of capital.

* PwC's legal arm has established an escrow system for a handful of European Olympic committees who have signed contracts for hotel rooms or dining venues at the games.

* Nasdaq OMX will launch a new US equities trading platform that aims to attract large orders that would normally go to so-called “dark pools”.

* Northern Rock, the nationalised bank, is hoping to repay about two-thirds of its £22.5bn government loan within the next five or six years.

* Companies are increasingly looking to sell mandatory convertible bonds as a way to boost share offerings.

The Guardian

* Petrobras is aiming to sell a record-breaking $64bn worth of shares to investors this week.

* Cattles, the sub-prime loan company, is in talks with lenders over restructuring deal that could save 3,000 jobs.

* The family owners behind the Butlins and Haven holiday parks pocketed nearly £60m in dividends; The "staycation" trend saw profits at Bourne Leisure, majority-owned by the Cook, Harris and Allen families, jump to £87.9m in 2009 from £54.8m.