Business news for Mon, 31 Dec 2007 & with word sale. 19 news.

MERRILL Lynch is in talks with Chinese and Middle Eastern sovereign wealth funds that could lead to the sale of another big stake in the US bank, British newspaper The Observer reported, citing sources in London and New York.

The home builder's head of investor relations sold stock at a $300,000 loss.

Transmeridian Exploration agreed to be acquired by its chief executive's Trans Meridian International in a deal that values the energy company at $350 million.

SAN FRANCISCO (MarketWatch) -- Commerce Bancorp Inc. completed the sale of its insurance brokerage business, Commerce Insurance Services, to a group led by Commerce Insurance Services' Chairman George E. Norcross and President Michael Tiagwad, Commerce Bancorp said Monday. The sale includes the commercial property and casualty, employee benefits, and various specialty insurance lines of Commerce Insurance Services. The terms of the deal were not disclosed.

Merrill Lynch's sale of two life-insurance units to Dutch insurance and investment-products provider Aegon has closed, with the $1.25 billion pricetag being $50 million less than the two parties agreed to in August.

SAN FRANCISCO (MarketWatch) -- Consolidated Mercantile Inc. has completed the sale of Polyair Inter Pack Inc. to Glencoe Skydome Holdings, an affiliate of Glencoe Capital, in a private deal for $6.2 million. The sale has been under consideration as a part of the company's continuing evaluation of potential strategies to maximize shareholder value, according to Consolidated Mercantile.

Merrill Lynch & Co is in talks with Chinese and Middle Eastern sovereign wealth funds that could lead to the sale of another big stake in the U.S. bank, a British newspaper reported.

Reuters - Merrill Lynch & Co is in talks with Chinese and Middle Eastern sovereign wealth funds that could lead to the sale of another big stake in the U.S. bank, British newspaper The Observer reported, citing sources in London and New York.

NEW YORK (Reuters) - Merrill Lynch & Co is in talks with Chinese and Middle Eastern sovereign wealth funds that could lead to the sale of another big stake in the U.S. bank, British newspaper The Observer reported, citing sources in London and New York.

NEW YORK (MarketWatch) -- Penn Treaty American Corp. said Monday that it has retained Friedman, Billings, Ramsey & Co. to assist its board in reviewing strategic alternatives, which could include partnerships or the sale of certain assets. Based on a preliminary report by its actuarial consultants, the Allentown, Pa., insurance company believes that it will have to increase claim reserves and that there may be offsetting or partially offsetting reductions in active life reserves. The valuation analysis is expected to be completed during the first quarter of 2008. Shares of Penn Treaty closed Friday at $6.49.

TEL AVIV (MarketWatch) -- Magic Software Enterprises Ltd., the Or Yehuda, Israel, provider of business-integration and application-development technology, sold its Advanced Answers on Demand subsidiary to Fortissimo Capital for $17 million. Fortissimo is the Rosh ha'Ayin, Israel, investment firm. Magic expects to post a more than $9 million gain on the sale of AAOD, which develops software for application in long-term health care, including retirement facilities as well as home-health and rehabilitation agencies. As part of the deal, Magic has licensed to AAOD the right to continue to sell its product portfolio for three years.

LONDON (MarketWatch) -- Merrill Lynch on Monday completed a previously announced deal with Aegon , where it's selling its life insurance unit for $1.25 billion in cash. Aegon's Transamerica companies will continue to supply insurance and investment products, including offering the flagship Merrill Lynch Investor Choice Annuity product through the acquired Merrill Lynch subsidiaries. Merrill Lynch expects to record a gain on sale during the fourth quarter of 2007 and anticipates the transaction to be slightly accretive to earnings per share and to have a positive effect on return on equity in 2008 after redeployment of proceeds. Aegon expects the acquisition to add scale to its existing business and to have a marginally positive effect on earnings per share.

LONDON (MarketWatch) -- Philips Electronics said it's completed the sale of 800 million Taiwan Semiconductor , part of a staged plan to reduce its stake in the chipmaker to zero before the end of 2010. After the sale, which will result in a 530 million euro gain in the fourth quarter, Philips will still hold 5% of Taiwan Semi's shares.

HONG KONG (MarketWatch) -- The Taiwan Stock Exchange, seeking to sell a minority stake in itself to an overseas stock market, is currently holding talks with exchange operators from Chicago, New York and Frankfurt, according to reports.

A Manhattan investor has terminated its contract to buy the former William Boyd Printing Co. plant in downtown Albany, the third time a proposed sale of the property has evaporated.

A plan to give investors the right to a vote over the sale of Northern Rock or its assets has received the backing of the UK Shareholders' Association

A small 1950s bungalow in Stockton, California, is up for sale for $169,950. Sitting off a quiet road dotted with American flags, the Funston Avenue home has two bedrooms, one bathroom and a covered porch.$

THE region had plenty to shout about in 2007. The year saw some of Yorkshire's biggest deals including the £945m sale of Yorkshire-based specialist engineering group Firth