An unnamed source told Reuters that drugmaker Adcock Ingram's largest shareholder Public Investment Corporation will not be putting up its 19% ownership stake for sale as the offer extended by potential buyer Bidvest undervalued its holding.
Mergers & Acquisitions
Catalyst Capital drops out of Canadian government's spectrum bidding
Investment firm Catalyst Capital Group is the fourth bidder to withdraw from the Canadian government's auction of a 700 MHz wireless spectrum. Canada seeks to break the stronghold of three dominant players in the country's mobile phone business.
SFX acquires majority stake in European ticketing firm Paylogic
As part of its recent acquisition streak, SFX Entertainment bought a majority stake in European ticketing services company Paylogic in a deal valued at approximately USD16.5 million.
Malaysia's HELP International gets USD111 million buyout bid
Private equity group Southern Capital Partners offered to buy Malaysian tertiary education provider HELP International Corp Bhd for USD111.3 million (MYR359.3 million) and plans to delist the firm should the deal be successful.
Sotheby's acquires Bratty & Bluhm assets in Pacific Grove
The Pacific Grove assets of Bratty & Bluhm Real Estate have been acquired by Sotheby's International Realty Inc and will operate as Sotheby's International Realty.
Latest News
Carlsberg Group reportedly purchased a 30.3% stake in joint venture partner Chongqing Brewery. The Danish brewer hopes to expand its presence in China's USD76 billion liquor market.
Dubai state fund Investment Corp of Dubai (ICD) announced on Thursday that it has purchased the Atlantis hotel from a Dubai World unit for an undisclosed amount.
German pharmaceutical company Merck KGaA will acquire AZ Electronic Materials for GBP1.6 billion. Merck will pay AZ's existing stockholders GBP403.5 in cash for each share.
Glencore Xtrata PLC, led by its chief executive officer Ivan Glasenberg, will be committing more capital in thermal coal than rivals BHP Billiton Ltd., Rio Tinto Group and Anglo American PLC.
BNP Paribas, the largest bank in France, said it will be buying Bank Gospodarki Zywnosciowej, the Polish arm of Dutch bank Rabobank Groep, for EUR 1 billion.
AT&T will be up against smaller rival T-Mobile should the former decide to offer a bid for Verizon Wireless' spectrum block. Verizon, which bought the asset for USD2.4 billion, is seeking to generate USD2.75 billion from the sale.
Colorado firm CSG has bought the key assets of mobile and broadband policy and charging solutions provider Volubill in a deal that will help CSG expand its market reach.
The US Federal Communications Commission (FCC) has approved Verizon's to buyout of Vodafone's stake in Verizon Wireless for USD130 billion, giving Verizon full ownership of the said network.
Top executives of shipping companies Compania Sud Americana de Vapores and Hapag-Lloyd were reportedly negotiating a merger deal. Vapores has suffered losses and is seeking for ways to become more competitive.
