Bristol-Myers Squibb is reportedly exiting its stake in a diabetes joint venture with AstraZeneca for $3 billion. Bristol-Myers shifted its focus from producing diabetes and hepatitis C treatment drugs to medicines harnessing the immune system to fight cancer.
Manufacturing
Dutch court orders luxury jewelry retailer Tiffany & Co. to pay Swatch $449M in damages
A Dutch arbitration court on Friday ordered American luxury jewelry retailer Tiffany & Co. to pay Swiss watchmaker Swatch Group $449 million in damages over their failed 20-year joint venture.
Southwire acquires rival electrical wire, cable maker Coleman for $786M, including debt
Southwire Co., one of the biggest electrical wire and cable makers in the US, has agreed to takeover smaller rival Coleman Cable for $492 million in cash. Southwire will also assume Coleman's debt, bringing the deal size to about $786 million.
Cessna plane maker Textron to acquire Beechcraft for $1.4 billion
Textron Inc., the maker of Cessna planes, reportedly agreed to takeover aircraft manufactured Beechcraft Corporation for $1.4 billion. Beechcraft has put up itself for sale after emerging from a bankruptcy protection earlier this year.
Blackstone to sell its stake in Indian drug maker Emcure Pharma to Bain Capital for INR650 crore
Private equity firm Blackstone Group has put up for sale its 13.09% stake in Indian drug company Emcure Pharmaceuticals. The stake will be sold to rival private equity firm Bain Capital for INR650 crore.
Latest News
Italian clothier Moncler is expected to raise a total of about €784 million in its initial public offering after arranging banks Goldman Sachs Group, Bank of American Merrill Lynch and Mediobanca exercised the listing's greenshoe over-allotment option.
Private equity firm Carlyle Group had put up for sale its specialty chemicals business PQ Corp. for $3 billion. Carlyle has tapped investment bank Credit Suisse to explore an outright sale or IPO of PQ.
Jabil Circuit, whose customers include Apple and Cisco Systems, will put up for sale its aftermarket services for $275 million. The contract electronics maker also looks to part ways with BlackBerry as its revenue declines.
The US Department of Energy (DOE) granted $13 million to five solar companies to help strengthen local solar manufacturing and increase competitiveness in the clean energy market.
The probe of the European Union involving an underwater power cable cartel is a test of the regulators' ability to penalize private equity investors and their parent firms, Bloomberg reported.
The poor performance of Pact Group Holdings and GDI Property Group Pty on the Australian stock exchange dampens the prospects of firms expected to go public next year, Reuters reported.
Boeing Co has increased its quarterly dividend from $0.485 cents a share to $0.73 cents and have authorized a new $10 billion share repurchase in the next two to three years, Reuters reported.
As part of a $1.3-billion investment in five US plants, General Motors (GM) is pouring in $600 million in its oldest assembly plant in Flint, Michigan, to set up a state-of-the-art paint facility and other upgrades.
Canadian dairy firm Saputo Inc, following a probe by Australia's Takeover Panel, said that it will raise and extend its takeover offer for Warrnambool Cheese and Butter Factory Holdings Co.
