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Twit<>Hutchison Buys Port Operations from China Resource http://bit.ly/fbA3DI $MDP $MMB $CNP $APC $CVS $AMZN Jan. 3 at 12:48 PM

In Play Today: Hutchison Buys Port Operations from China Resource
Posted on January 3, 2011 by Sheena Lee

Deal of the Day: The world’s largest global port operator, Hong Kong-based Hutchison Whampoa said it would buy port assets worth 5.7 billion Hong Kong dollars, or $733 million, from China Resource Holdings. (DealBook)

“China Resources has been looking to divest its port operations, and selling to Hutchison is a win-win situation,” said Credit Suisse analyst Cusson Leung. ”The most important mission for Hutchison going forward is to seek investment opportunities to deploy its cash,” Leung said. ”This is the best way to utilize the resources,” he said, referring to the acquisition of port assets. (CNBC)

Deal Update: Meredith Corp. (MDP), may be a potential bidder for Elle, Women’s Day, and other magazines that Paris-based Lagardére Group (MMB) is looking to offload. (New York Post)

Other recent deal activity:

Private equity company Blackstone Group (BX) has joined the bidding for Australian shopping-center owner Centro Properties Group’s (CNP) asset portfolio. (Wall Street Journal)

BHP Billiton (BHP), the world’s largest mining company, may make a $90-a-share bid for Anadarko Petroleum (APC), the Daily Mail reported, sending Anadarko shares to a two-year high last week. (Bloomberg)

Eni SpA is asking 4.7 billion euros ($6.2 billion), or 17 euros a share, for its 33.34 percent stake in Portuguese oil-and-gas company Galp Energia SGPS SA, Diario Economico reported. (Bloomberg)

CVS Caremark (CVS) agreed to buy a Medicare business for $1.25 billion, an acquisition that may open the nation’s largest pharmacy health care provider to further criticism about anticompetitive practices. (DealBook)

Amazon (AMZN) is in talks to acquire LoveFilm International — a British-based DVD and online movie-streaming company — in a deal that would value the company at $312 million, according to the Sunday Times of London. (New York Post)