News: PSI Deals of the day-Mergers and acquisitions

May 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Thursday:

** SoftBank 9434.T CEO Junichi Miyakawa said that the Japanese telecommunications firm is in talks with South Korea's Naver 035420.KS over control of LY Corp 4689.T , which operates the popular messaging app Line.

** Spanish bank BBVA BBVA.MC presented a 12.23 billion euro ($13.11 billion) takeover offer for rival Sabadell SABE.MC directly to shareholders, turning to a hostile bid after Sabadell's board rejected the same proposal this week.

** Japan's top steelmaker, Nippon Steel 5401.T , is sticking to its plan to close a deal by year-end to buy U.S. Steel X.N , which it expects to boost output and profits, the company said, despite resistance to the transaction in the U.S.

** Apollo-backed Concord said it will stick with its offer of $1.25 apiece for Hipgnosis Songs Fund SONG.L , days after Blackstone BX.N outbid it for the music rights owner of artists such as Shakira and Red Hot Chili Peppers.

** British oilfield services and engineering firm John Wood Group WG.L rejected a potential 1.42 billion pound ($1.77 billion) buyout proposal from Dubai-based firm Sidara on Wednesday, saying it "undervalued Wood and its future prospects".

** Shares of PSC Insurance Group (PSI) rose to a record high after UK-based broking business Ardonagh Group agreed to buy the Australian company in a deal valuing it at A$2.26 billion ($1.49 billion) amid rising confidence in the sector.

** Occidental Petroleum OXY.N hopes to close its acquisition of shale oil producer CrownRock before its second-quarter earnings call, CEO Vicki Hollub said on Wednesday. The event typically falls in early August.