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LIVE MARKETS-Bid deadline for GKN, SoftBank eyes 25 pct stake in Swiss Re

Reuters - UK Focus

March 29 - Welcome to the home for real-time coverage of European equity markets brought to

you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to

share your thoughts on market moves: helen.reid.thomsonreuters.com@reuters.net

BID DEADLINE FOR GKN, SOFTBANK EYES 25 PCT STAKE IN SWISS RE (0548 GMT)

Lots of M&A news on the slate today. It's crunch time for GKN (Frankfurt: 694194 - news) at 1200 GMT, when the deadline

for shareholders to accept Melrose (LSE: 136541.L - news) 's 8 billion pound hostile bid for the engineering firm

expires.

The result will decide a three-month battle for the company. Failure of the offer would open

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the way for GKN to push ahead with an alternative deal struck with U.S. axles and driveshafts

maker Dana earlier this month to defend itself.

Elsewhere Japan's SoftBank (Swiss: SOFB.SW - news) was reported by Bloomberg to be eyeing up a 25 percent stake in

Swiss Re (LSE: 0QL6.L - news) , which would be worth around $9.6 billion. Talks between the two firms over a potential

deal to acquire a minority stake have been advancing since last month and are now centering on

100 to 105 Swiss francs a share, according to the report.

(Helen Reid)

*****

MORNING CALL: EUROPEAN STOCKS TO OPEN SIDEWAYS (0533 GMT)

Good morning and welcome to Live Markets.

European stocks are likely to drift sideways today into the long weekend as tech pressures

ease somewhat and liquidity thins out, despite a weaker session in Asia.

Asian shares fell overnight, weighed by tech stocks after the sell-off in U.S. tech

continued into the close. Japan's Nikkei rose, however, as a weaker Yen boosted exporter shares.

Spreadbetters call the DAX 3 points higher at 11,944, the CAC 40 up 2 points at 5,133, and

the FTSE 100 20 points lower at 7,025. The UK stock index's relative weakness could be down to a

stronger pound, boosted overnight by the latest GfK (Swiss: GFK.SW - news) survey showing UK consumers were at their

most confident in 10 months in March.

(Helen Reid)

*****