Time Inc. has announced today that it would buy StyleFeeder, an online shopping recommendation engine. StyleFeeder aggregates apparel information from thousands of online retailers and has a catalog of more than 14-million products in its database.

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Update 2: A deal was announced today, the deal did go through, Kraft will acquire Cadbury for about USD $19.7-billion. Kraft will pay 500 pence cash, 840 pence per Cadbury share and the remaining funds will be paid to Cadbury investors with cash. The acquisition has generated the largest chocolate-maker in history. You’ll be able to find complete details on the Kraft investors relations website, but it’s not up just yet for now.

Update 1: We are being told that a counteroffer from Hershey is not expected and that an announcement confirming the acquisition is likely Tuesday morning.

The board of the 186-year-old British chocolatier, Cadbury, has announced they favor and agree to a hostile takeover by American food company Kraft based on a revised offer.

The deadline for Kraft to increase its acquisition price expires tonight at midnight and our source tells us that Kraft will offer just over USD $19-billion, a significantly higher amount from the previous $17-billion offer that started in 2009. Cadbury management previously rejected an USD $18-billion offer from Kraft.

Reports indicate Kraft CEO Irene Rosenfeld was engaged in meetings with top-level Cadbury executives late tonight discussing Kraft’s new offer.

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The popular video game maker, Electronic Arts (EA), has confirmed rumors that it would acquire the online game maker Playfish for a reported amount of up to $400 million.

Right now, EA is set to pay $275 million in cash for the company, in addition to $25 million in equity. EA has added performance covenants through December 31, 2011, were assuming Playfish continues to grow, EA will pay up to $400 million for the company.

The acquisition will help propel EA into the online social gaming realm.

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eBay is inching closer to selling it’s popular internet telephony service Skype after reaching an agreement with Joltid and Joost M.V. over patent infringement litigation.

The settlement did not come cheap. Skype founders Niklas Zennstorm and Janus Friis have given up a lot of equity, bringing their total stake in the company to 14-percent, in order for Joltid to drop litigation and to pass all rights to the questioned underlying VoIP technologies to Skype.

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Canada’s largest bank, the Royal Bank of Canada (RBC), has announced it would acquire New York-based JPMorgan Chase & Co.’s U.S.-based investment advising business division.

No terms of the deal are being disclosed.

RBC will merge the unit in its RBC Advisor Services arm, which is part of RBC Wealth management.

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Canada’s largest food retailer, Loblaw Limited, has announced today that the company has finalized a $225 million acquisition of T&T Supermarket Inc.

Loblaws will pay $191 million in cash and the remainder of the $225 will come in Loblaw preferred shares.

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Xerox CEO Ursula Burns, ACS President, CEO Lynn Blodgett

The world’s largest printer and document copier provider, Xerox, has announced (Xerox webinar) today the company has reached a deal to acquire data management and processing firm Affiliated Computer Services for $6.4 billion.

Under the plan that still requires regulatory and shareholder approval, Xerox would pay $18.60 cash per share and would give 4.935 Xerox shares for everyone single share ACS shareholders own.

Equivalently, Xerox would pay $63.11 per ACS share, more than a 20-percent premium over the $53.99 ACS price is trading at as of 11:06am today.

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The Walt Disney Company has just announced today that it would acquire Marvel Entertainment for $4 billion.

Disney is set to pay $50 per share cash for Marvel. Under the deal, Marvel shareholders would receive $30 per share in addition to about 0.745 Disney shares for each Marvel share they have.

The deal has already been approved by both of the company’s shareholders.

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Canadian car parts-maker Magna International Corp. has sent a revised offer with a contract to GM today hoping for a deal to finally go through for GM’s Opel division.

Magna spokesperson Daniel Witzani said today that all term issues were resolved between Magna and its Russian-based partner Sberbank, and said that the next step is for GM to make a decision.

Magna is offering GM about EUR $500 million for a 55-percent stake in Opel, with 35% retained to GM and with the remaining 10-percent to remain with Opel employees.

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Nortel has confirmed today it has entered into a sale agreement with Swedish-based Ericsson Corp. to buy Nortel’s CDMA Business and LTE Access Assets for $1.13 billion following Nortel’s liquidation.

Nortel President and CEO Mike Zafirovski said in a statement today, “[The sale] represents a very positive prospect for our customers who will be able to continue their relationships with a long term partner; for employees who will have new opportunities at Ericsson and for many of our other stakeholders. I want to especially thank our customers for their tremendous support during the process, which contributed to such a positive outcome.”

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