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Royalty raises Elan bid, issues ultimatum to shareholders

May 20, 2013 02:30
By Padraic Halpin and Jessica Toonkel DUBLIN/NEW YORK (Reuters) - Royalty Pharma raised its hostile bid for Elan to $12.50 per share and threatened to withdraw the bid if Elan shareholders approve a series of defensive transactions announced by the Irish drug firm. Royalty Pharma, which buys royalty streams of patented drugs, said Elan's efforts to reinvent itself through a series of acquisitions and debt deals were hasty and ill-conceived.

Sales of small businesses pick up as more boomers retire, buyers seek growth by acquisition

The Canadian PressMay 16, 2013 05:32
NEW YORK, N.Y. - Baby boomers preparing for retirement are driving a surge in small business sales, as they find more and more buyers confident enough in the improving economy to expand their own businesses through acquisitions.

Insight: Flexing antitrust muscle, China is a new merger hurdle

May 8, 2013 18:05
By Michael Martina BEIJING (Reuters) - China's new-found clout in regulating global mergers is causing headaches for companies seeking high-stakes deals that need Beijing's approval. Where corporate lawyers and advisers were once primarily concerned with merger clearance in the United States and Europe, China's anti-monopoly law - just five years old - has altered the calculus, as Beijing forces often painful delays with an antitrust regime that some see as an industrial policy tool.

Clearwire investor Aurelius sues Clearwire directors and Sprint

April 26, 2013 18:00
(Reuters) - Aurelius Capital, a big shareholder in U.S. wireless service provider Clearwire Corp <CLWR.O>, filed a lawsuit against Clearwire directors and Sprint Nextel Corp <S.N> over Sprint's December agreement to buy out the portion of Clearwire it does not already own. Aurelius, which says it owns 17 million Clearwire shares, said Sprint, as Clearwire's majority shareholder, had dictated "manifestly unfair" terms for its Clearwire deal, in a filing at the Court of Chancery of the State of Delaware on Friday.

Royalty's sweetened offer puts pressure on Elan board

April 15, 2013 13:30
By Padraic Halpin and Jessica Toonkel DUBLIN/NEW YORK (Reuters) - Royalty Pharma's <ROYPH.UL> sweetened its bid for Irish drugmaker Elan <ELN.I>, heaping pressure on its management to open its books to the U.S. investment firm in the hope of a better offer, analysts and shareholders said on Monday.

Royalty's sweetened offer puts pressure on Elan board

April 15, 2013 11:45
By Padraic Halpin and Jessica Toonkel DUBLIN/NEW YORK (Reuters) - Royalty Pharma's <ROYPH.UL> sweetened bid for Irish drugmaker Elan <ELN.I> heaps pressure on Elan's management to open its books to the U.S. investment firm in the hope of a better offer, analysts and shareholders said on Monday.

News Corp publishing unit to launch with $2.6 bn

March 8, 2013 14:47
The newspaper and publishing unit being spun off by media giant News Corp. will begin operations with $2.6 billion in cash, according to regulatory documents filed Friday. The company to be created by a split of magnate Rupert Murdoch's conglomerate will get a cash infusion when the breakup takes place, the documents showed. No date was given for the split, but executives have said they hope it will occur before the end of the company fiscal year in June.

UPDATE 2-IMI to buy back shares, sell merchandising business

March 7, 2013 04:30
* To buy back up to 175 mln stg of shares * To divest majority of merchandising division * Plans bolt-on acquisitions * Shares rise as much as 8 pct (Adds CEO and analysts' comments, updates share movement) By Karen Rebelo March 7 (Reuters) - British engineer IMI Plc said it would buy back up to 175 million pounds ($263 million) of its shares and sell most of its merchandising business, sending its shares up as much as 8 percent.

M&A recovery picks up, but not at pre-2008 levels

February 14, 2013 22:31
The $28 billion takeover of ketchup king Heinz by Berkshire Hathaway and 3G Capital announced Thursday offered the latest sign that merger and acquisition activity is on the upswing. But leading dealmakers say that the deal climate still has not recovered to pre-2008 levels. "We're seeing some pretty good activity coming out of the fourth quarter" and into the beginning of 2013, said Henry Gosebruch, a managing director at J.P. Morgan. "But there is still ways to go back to 2007 levels."

US stocks fall despite giant Heinz, airline deals

February 14, 2013 14:31
US stocks traded lower in early action Thursday despite two giant M&A deals, the merger of American Airlines and US Airways, and Berkshire Hathaway and 3G's takeover of ketchup maker Heinz. Analysts said the markets were partly echoing the slump in European markets on dismal economic growth reports from eurozone countries, as well as Japan. One hour into trade, the Dow Jones Industrial Average was down 16.28 points (0.12 percent) at 13,966.63.
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