Tuesday Papers: Aon to buy Hewitt in $4.9bn deal - bid news and gossip

Financial Times

* Aon, the US insurance broker, on Monday said it would acquire Hewitt Associates in a cash and stock deal worth $4.9bn, excluding debt; Hewitt investors will receive $25.61 in cash and 0.6362 Aon common stock shares for each Hewitt share they own.

* Santander had agreed to buy the German retail bank business of Skandinaviska Enskilda Banken for €555m.

* Asia-based hedge fund managers generate higher returns than those outside the region running similar strategies, according to a research by GFIA, the Singapore-based consultancy.

* Mark Burgess, head of active equities at Legal & General Investment Management, is quitting to join rival Threadneedle, replacing Sarah Arkle as chief investment officer.

* Alcoa on Monday raised its outlook for growth in global aluminium consumption this year after stronger-than-expected demand; it made a profit of $136m or 13 cents per share in the second quarter, with the revenue rising to $5.2bn, up from $4.2bn last year and ahead of forecasts of about $5bn.

* Bain Capital plans a new $2bn-$2.5bn fund for Asia, primarily focusing on China, sources said, as the country attracts renewed interest from private equity groups after a series of highly profitable deals.

* Tensions rise between Rio Tinto and Ivanhoe over copper deposit.

* Grupo Modelo lost a two-year arbitration case against partner AnheuserBusch InBev.

* Thomas Cook buys rival Öger Tours in an effort to increase its Turkish presence.

The Daily Telegraph

* Mining giant Anglo American should be broken up so its South African business does not drag down other areas, BoA Merrill has recommended.