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Bayer succeeds in buying Norway's Algeta

German pharmaceuticals giant Bayer said Wednesday its 1.9-billion-euro ($2.6-billion) bid for Norwegian cancer treatment specialist Algeta has been successful and it now holds more than 97 percent in the firm. "The way is now clear for the Bayer group to acquire Norwegian pharmaceutical company Algeta," the German giant said in a statement.

BASF says confident for 2014 after meeting 2013 targets

German chemicals giant BASF said on Tuesday that it was "cautiously optimistic" for business this year after it met its targets last year. "2013 was again a demanding year, with a lot of headwind for our industry. Nevertheless, we achieved our goal," chief executive Kurt Bock told the group's annual earnings news conference. "Overall, we expect to perform well in a market environment that remains challenging in 2014," Bock continued.

Bayer launches 1.9-bn-euro bid for Norway's Algeta

German pharmaceuticals giant Bayer said Thursday it has launched a 1.9-billion-euro ($2.6-billion) bid to buy Norwegian cancer treatment specialist Algeta. "The Bayer group plans to further strengthen its oncology portfolio with the acquisition of Norwegian pharmaceutical company Algeta," the German group said in a statement. "Bayer has reached an agreement with Algeta's board of directors to make a recommended voluntary public takeover offer to Algeta's shareholders, and is offering them 362 kronor per share in cash," the statement said.

Bayer bids 1.8 bn euro for Norway's Algeta

German pharmaceutical group Bayer has made a bid for its Norwegian partner and competitor Algeta, specialised in cancer treatments, for 1.8 billion euro ($2.4 billion), the Nordic company said Tuesday. In a statement to the Oslo Stock Exchange responding to recent media reports, Algeta said that Bayer had offered 336 kroner (40.7 euro, $55.2) per share. The company added that the acquisition price quoted in the media (306 kroner) was lower than the actual offer from the German group.

Bayer bids $2.4 billion for Norwegian cancer drug partner Algeta

By Balazs Koranyi and Ben Hirschler OSLO/LONDON (Reuters) - Bayer <BAYGn.DE> has offered to pay $2.4 billion for Norway's Algeta <ALGETA.OL>, its partner for a new prostrate cancer treatment, at a 27 percent premium to the stock's last close, Algeta said on Tuesday. The deal would boost Bayer's drugs division by giving it outright control over Xofigo, a drug the two have developed jointly since 2009 and started selling in the United States this year.

Bayer preparing a bid for Norwegian drug partner Algeta: paper

FRANKFURT/OSLO (Reuters) - German pharmaceutical group Bayer is preparing a bid to acquire Algeta, its partner for its prostrate cancer treatment Xofigo, a German newspaper reported on Tuesday. The Frankfurter Rundschau, citing internal documents it obtained, said Bayer would offer 306 Norwegian crowns ($49.9) per share for a Norwegian stock-exchange listed company, referred to in the documents as "Aviator". The newspaper said it believed this company to be Algeta.

Bayer says new products push profits higher in Q3

German chemicals and pharmaceuticals group Bayer, maker of Aspirin, said on Thursday that new pharmaceutical products and favourable agrochemical prices gave profits a fillip in the third quarter. Bayer said in a statement that bottom-line net profit grew by 42 percent to 733 million euros ($1.0 billion) in the third quarter. "The Bayer group continued its positive business momentum in the third quarter of 2013, with substantial contributions from the life science businesses, healthcare and crop science," the group said in a statement.

BASF books robust quarterly profit despite euro headwind

The world's biggest chemicals company, Germany's BASF, announced on Thursday better-than-expected net profit in the third quarter and held to its targets for the year. But despite the robust earnings, the company warned that the result came despite headwinds caused by the strength of the euro, especially against the Japanese yen and Brazilian real. BASF makes a wide variety of chemicals for plastics, paints, textiles and drugs as well as the auto, construction and agricultural sectors.

Cost-cutting, oil and gas sales help profits at BASF

FRANKFURT - German chemicals firm BASF said Friday that its third-quarter net profit rose 18.5 per cent, helped by a better performance from its key business making industrial materials that other companies turn into finished goods. Net income was 1.096 billion euros ($1.512 billion), up from 925 billion euros in the same quarter a year ago. Revenues rose 1.5 per cent to 17.73 billion euros.

Germany's BASF to keep Egyptian operations closed amid unrest

FRANKFURT (Reuters) - German chemicals giant BASF will not reopen its Egyptian operations after the weekend because of the violent political protests in the country. "The safety of our employees has top priority. We are observing the situation carefully. All our employees are fine. The offices have been closed since yesterday," a spokeswoman for the world's largest chemical maker said. BASF has about 100 employees based in Egypt, with offices in Alexandria and Cairo and a plant producing construction chemicals in Sadat City.
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