Tuesday Papers: Aviva’s big investors in plea over RSA offer - bid news and gossip

Financial Times

* Leading Aviva shareholders are pressing for the UK insurer to negotiate after it dismissed RSA’s £5bn offer for its general insurance business out of hand.

* Dell, the third largest personal computer maker, said on Monday that it would acquire 3Par, a data storage company, in a $1.15bn deal; Dell will pay $18 a share in cash for the data storage company that represents a premium of almost 87%.

* Santander has rekindled talks in recent weeks with M&T Bank over a merger of the US operations of the Spanish lender with the regional bank based in Buffalo, New York.

* Cheyne Capital, the London credit hedge fund, is set to reorganise its listed vehicle Queen’s Walk Investment.

* Private client wealth managers are ploughing money into investment trusts in search of income; investment trusts have raised £1.16bn this year, according to the Association of Investment Companies.

* Morgan Stanley has hired Malcolm Ford, formerly in a senior position in electronic equity sales at Chevreux, to a small team it has been building that sells algorithms and other services to the broker-dealer community.

* The Commodity Futures Trading Commission, the US futures markets watchdog, on Monday rejected the CME’s claim that a futures contract offered by ELX, a smaller rival, was illegal.

* BP has raised $5bn in new loans by pledging revenues from oil sales.

* Hulu is considering plans for an initial public offering as early as this autumn, which could value the US online video company at about $2bn.

The Daily Telegraph

* Lloyd Blankfein cashed in a $6.1m (3.9m) profit on options he received 10 years ago as part of a $23m windfall shared by five of Goldman Sachs' leading executives.