BNP Paribas (BNOBF.PK) has received interest from Wells Fargo (NYSE:WFC) and other U.S. banks, as it is reportedly trying to sell up to $11B of loans to oil and gas companies, the revenues from which it would use to bulk up its capital buffers. BNP has been getting offers with a discount of under 5%, and its loans have also attracted potential Canadian buyers.

Eastman Chemical Company’s (NYSE:EMN) strategy of expanding into emerging markets, especially Asia Pacific, has led, in part, to its merging with Soluitia (NYSE:SOA), with an offer of $27.65/share, which is a premium of 42% on Solutia’s close yesterday. Eastman also says that its Asian expansion
will “be immediately accretive to earnings.”, as the company now expects 2012 adjusted EPS of $5 and 2013 EPS of over $6.

Oshkosh (NYSE:OSK) says that an attempt by Carl Icahn to install an alternative slate of company directors has been defeated, with at least 12 of its 13 board nominees having been elected. Icahn wants to see the rival truck makers merge, as it holds ~10% stakes in Oshkosh and Navistar (NYSE:NAV).

Dawin Electronics, a privately held South Korean semiconductor company that designs and manufactures Insulated Gate Bipolar Transistor, Fast Recovery Diode and MOSFET modules, is being acquired by a Korean subsidiary of MagnaChip (NYSE:MX), whose shares jumped after the announcement. Terms of the acquisition were not disclosed.

To contact the reporter on this story: at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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