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Best mortgage deals of the week

As possibility of multiple interest rate cuts dwindle here's what banks and building societies are offering

BUZZ-Melrose: best day in 5 yrs on Elster sale

Reuters - UK Focus

** Melrose Industries (LSE: MRO.L - news) on track for biggest one-day advance since November 2010 as sells utility consumption meter business Elster for 3.3 bln pounds to Honeywell

** Melrose (Stuttgart: 2NM3.SG - news) -- an engineering turnaround specialist that follows a buy-improve-sell strategy akin to private equity firms -- to use some of proceeds to return 2 bln pounds to shareholders

** Liberum describes the deal, which represents 2.3x the equity investment and 33% IRR within 3 yrs, as "terrific value creation"

** Furthermore, broker flags Honeywell is assuming the majority of the Melrose group's pension schemes, which at c.£900 mln of liabilities (£134 mln deficit) is a "huge relief"

** Melrose, up 9.9%, 3rd-top riser on Stoxx 600 & top of UK's FTSE 250, in volume already more than the 90-day daily avg after