(Adds Sabadell, Applied Systems and Puma)

September 9 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 1945 GMT on Tuesday:

** Sabadell Chief Executive Cesar Gonzalez-Bueno

expects BBVA to submit a higher offer for his bank, he

said on Tuesday, adding that its Spanish competitor's hostile

takeover bid undervalues the lender.

** Private equity-backed U.S. technology firm Applied

Systems has made a $300-million-plus bet on AI insurance

distribution with the acquisition of London-headquartered

insurtech Cytora.

** Francois-Henri Pinault, chairman of the privately-owned

holding company Artemis that controls Gucci-owner Kering, said

on Tuesday that Artemis' 29% stake in sportswear maker Puma was

"not strategic."

** London-listed miner Anglo American and Canada's Teck Resources plan to merge, the two companies said, marking the

sector's second-biggest M&A deal ever and forging a new global

copper-focused heavyweight.

** U.S. refiner Phillips 66 said it will acquire the remaining 50% stake in WRB

Refining from Cenovus Energy for $1.4 billion, giving it full ownership of two major

U.S. refineries.

** Permira and Blackstone Inc are acquiring a $525

million minority stake in Dubai-based classifieds firm Property

Finder, according to a joint statement, in a sign of continued

investor appetite in the emirate's real estate market.

** South African supermarket retailer SPAR Group said

it has sold its entire stake in its Swiss unit SPAR Switzerland

to investment group Tannenwald Holding for an equity value of

46.5 million Swiss francs. ($58.73 million)

** Novartis will acquire Tourmaline Bio for

$48 per share, valuing the New York-based biopharmaceutical

company at $1.4 billion on a fully diluted basis, the Swiss

pharma giant said.

** ASML will invest 1.3 billion euros ($1.5 billion)

in French artificial intelligence startup Mistral AI, becoming

its main shareholder with a stake of about 11%, the Dutch chip

equipment maker said, confirming a Reuters report from Sunday.

** LG Chem said that Japan's Toyota Tsusho Corp had acquired a

25% stake in the company's cathode materials plant in South

Korea, joining as the second-largest shareholder of the plant.

(Compiled by Rajarshi Roy and Anuj T in Bengaluru)