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Mergers & Acquisitions

  • Mylan tweaks $5bn 'inversion' deal @ Financial Times - 6 hours ago

    A US pharmaceuticals group vowed to push ahead with a $5bn deal designed to slash its tax bill but tweaked the transaction following a White House crackdown that has torpedoed a string of so-called "inversions". ...

  • DeepMind, the UK artificial intelligence group purchased by Google for £400m earlier this year, has revealed plans to create a broad alliance with the University of Oxford after acquiring two companies ...

  • BGC launches hostile $675m offer for rival GFI @ Financial Times - 10 hours ago

    BGC Partners has launched a hostile $675m bid for rival US interdealer broker GFI Group after becoming frustrated with delays to a negotiated deal. The New York-based group will offer to buy the 86.5 per ...

  • Our upgrade of Yahoo (YHOO) is based on four factors: 1) Management appears to be going into motion on delivering a tax shield on Asian assets, a significant potential value driver that we think could be worth $13 a share; Management’s comments were incrementally more positive on Yahoo’s ability to shield taxes on future …

  • Spirit profits up as Greene King deadline nears @ Financial Times - 13 hours ago

    Spirit Pub Co, which on Monday said it would approve a merger approach from Greene King, has set aside £75m to fund expansion of its estate, a sign of the company's progress since its spin-off from Punch ...

  • Yahoo posts gains in sales, profits but pressure still on @ USA TODAY - Tue, Oct 21, 2014 8:16 PM EDT

    Analysts had expected revenue excluding commissions paid to partners of $1.05 billion.

  • Himax Tumbles 14%: Google Chooses Not to Make Additional Investment @ Barrons.com - Tue, Oct 21, 2014 5:39 PM EDT

    Shares of display technology maker Himax Technologies (HIMX) are down $1.10 , or almost 14%, at $6.92, in late trading, after the company this afternoon said Google (GOOGL) has decided not to exercise an option to take a second round of investment in the company. "Google continues to work closely with Himax as a strategic …

  • Yahoo to report Q3 results, with Alibaba a major topic @ USA TODAY - Tue, Oct 21, 2014 1:58 PM EDT

    Company expected to report $1 billion in revenue.

  • Tech Five: Apple shares jump off iPhone sales @ USA TODAY - Tue, Oct 21, 2014 9:51 AM EDT

    Company sold more than 39 million iPhones during the quarter.

  • Yahoo plans to deploy its cash from selling its stake in Alibaba Market Realist - Tue, Oct 21, 2014 9:00 AM EDT

    Yahoo has already committed to returning half of the cash proceeds that it received by selling its stake in Alibaba to shareholders through a buyback or dividends.

  • AbbVie and Shire agree to end $52-billion deal @ Los Angeles Times - Mon, Oct 20, 2014 9:01 PM EDT

    AbbVie Inc. and Shire agreed to terminate what would have been the biggest U.S. tax inversion after AbbVie pulled its support for the deal in the wake of proposed changes to U.S. rules governing the transactions....

  • AbbVie to pay Shire $1.64B fee over nixed merger Associated Press - Mon, Oct 20, 2014 6:27 PM EDT

    NORTH CHICAGO, Ill. (AP) — AbbVie is walking away from its proposed $55 billion takeover bid of Shire and has agreed to pay the rival drugmaker a $1.64 billion breakup fee.

  • Chiquita shares fall ahead of key investor vote @ USA TODAY - Mon, Oct 20, 2014 4:54 PM EDT

    Chiquita shares fell after a top shareholder rejected the firm's plan to buy an Irish rival.

  • Yahoo CEO Marissa Mayer to talk turnaround plan Tuesday @ San Jose Mercury News - Mon, Oct 20, 2014 3:38 PM EDT

    Yahoo’s embattled CEO Marissa Mayer is expected to lay out her strategy for reviving the Sunnyvale Internet giant and counter an unhappy investor during Tuesday’s third-quarter earnings report. Mayer is ...

  • “We are consistently reading the headlines of significant sized deals getting done and the mid-market is humming as well.” So came word from Matt Porzio , vice president of M&A strategy and product marketing ...

  • Vincent Bolloré turns to Havas as he repositions his group @ Financial Times - Mon, Oct 20, 2014 1:37 PM EDT

    In 2004, having built a 22 per cent stake in Havas, Vincent Bolloré emerged from an 11-month battle at the French advertising agency that saw him oust the chairman and chief executive and gain valuable ...

  • Greene King offer for Spirit shows pub groups' resilient nature @ Financial Times - Mon, Oct 20, 2014 1:21 PM EDT

    Rising beer duties, the smoking ban, changes in drinking habits and chronic debt - all have contributed to thousands of pub closures. Only the most punch-drunk investor would have ploughed into pub stocks ...

  • Globalfoundries acquiring IBM’s chip operations @ San Jose Mercury News - Mon, Oct 20, 2014 1:14 PM EDT

    IBM on Monday said it is unloading its unprofitable chip-making business to Santa Clara-based Globalfoundries in an unusual deal in which IBM will pay Globalfoundries $1.5 billion over three years to acquire ...

  • Willis in London insurance deal talks @ Financial Times - Mon, Oct 20, 2014 12:30 PM EDT

    Willis Group is in exclusive talks to take a majority stake in smaller rival Miller Insurance Services as pressure on wholesale insurance brokers is driving consolidation in the sector. US-listed Willis ...

  • ISS reverses position; backs Fyffes-Chiquita deal Associated Press - Mon, Oct 20, 2014 11:51 AM EDT

    A proxy advisory firm has reversed its position and is now urging Chiquita shareholders to vote in favor of a proposed merger with Irish fruit company Fyffes.

  • Shares of Cyberark Software Ltd (NASDAQ: CYBR ) have experienced volatility in Monday’s trade as the quiet period for shares as expired. Amid the lock-up expiration, analysts at multiple firms initiated ...

  • NewLink Scores Major Partners With Roche’s Genentech @ 24/7 Wall St. - Mon, Oct 20, 2014 10:24 AM EDT

    NewLink Genetics announced that it has entered into an exclusive worldwide license agreement with Genentech for the development of NewLink's IDO pathway inhibitor.

  • Electrolux buoyed by US growth Associated Press - Mon, Oct 20, 2014 8:03 AM EDT

    STOCKHOLM (AP) — Growth in the U.S. and efficiency gains in Europe helped Swedish home-appliance maker Electrolux post a 42 percent jump in third-quarter profits.

  • Shares in Dutch feed company Nutreco surge Associated Press - Mon, Oct 20, 2014 5:23 AM EDT

    AMSTERDAM (AP) — Shares in Dutch animal and fish feed supplier Nutreco NV have surged after the company announced a management-backed 2.69 billion ($3.43 billion) takeover offer from privately-owned trading company SHV Holdings.

  • [$$] Jana Buys $77 Million More of Walgreen Stock @ Barrons.com - Mon, Oct 20, 2014 4:37 AM EDT

    On Oct. 14 one Walgreen insider bought nearly $80 million in shares of the drugstore chain, dwarfing selling by an executive the same day. Walgreen director (ticker: WAG) and activist investor Barry Rosenstein, ...

  • Greene King tops up Spirit offer @ Financial Times - Mon, Oct 20, 2014 3:18 AM EDT

    Pub company Spirit has indicated its board will accept a revised £723m takeover proposal from rival Greene King, which has topped up its offer to 109.5p a share, putting the two groups on course to create ...

  • IBM to pay $1.5bn to shed chip-making business @ Financial Times - Sun, Oct 19, 2014 11:14 PM EDT

    IBM has agreed to pay $1.5bn as part of a deal to shed its loss-making chip manufacturing arm and avoid the billions of dollars in capital spending it was facing to upgrade its manufacturing technology. ...

  • [$$] More Than Just Cereal in the Package @ Barrons.com - Sat, Oct 18, 2014 12:01 AM EDT

    Since its 2012 spinoff from Ralcorp, Post has shifted its focus from cereal, a declining category, to segments growing in popularity, such as natural, protein, and convenience foods. Earnings are expected to jump 80% to 80 cents a share in fiscal 2015 from 2014 estimates.

  • Pfizer's AstraZeneca pursuit knocked by Shire deal collapse @ Financial Times - Fri, Oct 17, 2014 5:22 PM EDT

    The chances of Pfizer reviving its pursuit of AstraZeneca have been greatly diminished after the collapse of AbbVie's £32bn acquisition of Shire, according to several people close to the situation. Pfizer, ...

  • Sharing the fruits of my share portfolio @ Financial Times - Fri, Oct 17, 2014 12:07 PM EDT

    A few months ago, an old friend and very successful businessman in the Northwest asked me to create a £500,000 portfolio with the emphasis on long-term capital growth. I was happy to oblige. No restrictions ...

  • In a report published Friday, Bank of America analyst Colin Bristow reiterated a Buy rating on AbbVie Inc (NYSE: ABBV ), but lowered the price target from $65.00 to $61.00. In the report, Bank of America ...

  • CF Industries Kills Yara Merger Benzinga - Fri, Oct 17, 2014 8:01 AM EDT

    CF Industries Holdings, Inc. (NYSE: CF ) shares fell in the extended session Thursday after it dropped plans to merge with Norwegian fertilizer maker Yara International. CF traded recently at $244, down ...

  • Yara, CF Industries abandon merger talks Associated Press - Fri, Oct 17, 2014 4:31 AM EDT

    STOCKHOLM (AP) — Norway's Yara International and Deerfield, Illinois-based CF Industries have abandoned merger talks that would have created a massive player in the fertilizer industry.

  • AbbVie urges shareholders to reject Shire deal due to tax rule change @ Los Angeles Times - Thu, Oct 16, 2014 8:00 PM EDT

    The board of directors of Illinois drug maker AbbVie Inc. recommended that shareholders reject the acquisition of European rival Shire, saying recent changes to U.S. tax rules eliminated some of the financial ...

  • Sungy Mobile Announces Strategic Corporate Restructuring Benzinga - Thu, Oct 16, 2014 4:02 PM EDT

    Sungy Mobile Limited (Nasdaq: GOMO ), a leading provider of mobile internet products and services globally with a focus on applications and mobile platform development ("Sungy Mobile" or the ...

  • AbbVie drops proposed $54bn Shire deal @ Financial Times - Thu, Oct 16, 2014 3:39 PM EDT

    AbbVie, the US pharmaceuticals group, blamed a White House crackdown on tax inversions as it dropped its proposed $54bn takeover of UK drugmaker Shire, in an implicit admission that the deal was partly ...

  • Some inversion deals may survive tax changes @ Financial Times - Thu, Oct 16, 2014 1:31 PM EDT

    The sudden collapse of AbbVie's proposed $54bn takeover of rival drugmaker Shire does not necessarily signal the death of tax-driven deals by the Obama administration. Instead, it underlines how a White ...

  • Chesapeake sells shale fields for $5.38bn @ Financial Times - Thu, Oct 16, 2014 1:01 PM EDT

    Chesapeake Energy has sold a package of shale gasfields in the eastern US for about $5.38bn, at a price that was significantly higher than analysts had expected. It has agreed a deal with Southwestern ...

  • Will Actavis Win Competition For Allergan's Affection? Benzinga - Thu, Oct 16, 2014 11:10 AM EDT

    Four pharmaceutical companies have been flirting with merger deals. Discussing the confusing courting, Barron’s called them the Bob & Carol & Ted & Alice of pharmaceuticals, referencing the sexy 1969 comedy-drama ...

  • AbbVie board rejects tax-cutting inversion plan @ USA TODAY - Thu, Oct 16, 2014 9:53 AM EDT

    AbbVie CEO says new U.S. Treasury rules undercut economic rationale of Shire acquisition.

  • AbbVie's board recommends shareholders nix Shire tax inversion deal @ Los Angeles Times - Thu, Oct 16, 2014 9:06 AM EDT

    The board of directors of Illinois drug maker AbbVie Inc. has recommended shareholders vote against the acquisition of European rival Shire, saying recent changes to U.S. tax rules eliminated some of the ...

  • BSkyB profits beat market forecasts @ Financial Times - Thu, Oct 16, 2014 6:23 AM EDT

    BSkyB reported stronger than expected growth in both profit and customer demand in the three months to the end of September while securing regulator and shareholder approval for its takeovers of Sky Italia ...

  • Investors await next Tata step after steel sale @ Financial Times - Thu, Oct 16, 2014 3:57 AM EDT

    Tata Steel's planned sale of parts of its lossmaking European division has prompted immediate anxiety about possible plant closures, and the fate of nearly 6,500 employees, mostly in the UK. However, shares ...

  • AbbVie reconsiders Shire purchase, cites tax inversion crackdown @ Los Angeles Times - Wed, Oct 15, 2014 6:40 PM EDT

    New tax provisions designed to discourage U.S. companies from moving their headquarters to overseas tax havens may be having an effect.

  • Why the post-merger Enterprise Partners will increase distribution Market Realist - Wed, Oct 15, 2014 5:00 PM EDT

    But you should keep in mind that EPD is a much larger company. So, it has much more capacity to invest in growth projects. OILT unitholders will benefit from EPD’s stronger base to spend on capex.

  • [$$] AbbVie and Shire Are Buys Even if Deal Is Off @ Barrons.com - Wed, Oct 15, 2014 3:17 PM EDT

    Shares of both AbbVie (ABBV) and Shire (SHPG) were falling Wednesday, after the former said late Tuesday night that it is reconsidering its plans to buy Dublin-based Shire. While buying Shire would have nearly halved AbbVie’s tax rate, from 22% this year to 13% by 2016, new rules issued by the U.S. AbbVie slipped 2.6% …

  • AbbVie drops £32bn bombshell on Shire @ Financial Times - Wed, Oct 15, 2014 3:00 PM EDT

    Only two weeks ago AbbVie's chief executive, Richard Gonzales, sent a letter to Shire employees saying he was "more energised than ever" about his group's £32bn takeover of the company. In the ...

  • AbbVie and Shire: the tail of the tax tale @ Financial Times - Wed, Oct 15, 2014 2:05 PM EDT

    One of the more lamentable products launched by the insurance industry is wedding insurance, offering protection if the big day has to be postponed. Regrettably, the cover does not apply if the betrothed ...

  • Bank Of America Upgrades 9 Midstream Energy MLPs Benzinga - Wed, Oct 15, 2014 2:00 PM EDT

    Bank of America issued ratings changes for midstream energy Master Limited Partnerships Wednesday. Analysts led by Gabe Moreen saw "MLP illiquidity, likely forced investor selling and resulting price ...

  • Cutrale-Safra raises Chiquita takeover bid @ USA TODAY - Wed, Oct 15, 2014 1:59 PM EDT

    Brazilian corporate suitors said their sweetened bid for Chiquita represented a 40% premium for shareholders.

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