DEAL1

Philip Morris clinches Swedish Match after smoking out opposition

PMI needs 90% stake for compulsory buyout of minorities PMI believes that target can eventually be reached PMI says top 10 Swedish Match investors tendered shares Nov 7 (Reuters) – Marlboro maker Philip Morris International (PMI) (PM.N) overcame some opposition to clinch 83% of Swedish Match (SWMA.ST), short of the 90% it wanted but enough …

Philip Morris clinches Swedish Match after smoking out opposition Read More »

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analysts forecasts. Berkshire benefited from increased demand and prices …

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand Read More »

Canada orders three Chinese firms to exit critical minerals deals

OTTAWA, Nov 2 (Reuters) – Canada’s government ordered three Chinese firms on Wednesday to divest their investments in Canadian critical minerals companies on grounds of national security. The three firms ordered to divest their investments are Sinomine (Hong Kong) Rare Metals Resources Co Ltd, Chengze Lithium International Ltd, also based in Hong Kong, and Zangge …

Canada orders three Chinese firms to exit critical minerals deals Read More »

DuPont scraps $5.2 bln Rogers buyout due to China hurdles

Nov 2 (Reuters) – Chemicals maker DuPont De Nemours Inc (DD.N) said on Tuesday it was ending its $5.2 billion buyout of Rogers Corp (ROG.N), the first collapse of a major US deal in four years caused by a failure to clear Chinese regulatory hurdles. DuPont said the termination of the deal was agreed with …

DuPont scraps $5.2 bln Rogers buyout due to China hurdles Read More »

CVS, Walmart, Walgreens agree to pay $13.8 bln to settle US opioid claims

Nov 2 (Reuters) – CVS Health Corp (CVS.N), Walgreens Boots Alliance Inc (WBA.O) and Walmart Inc (WMT.N) have agreed to pay about $13.8 billion to resolve thousands of US state, local and tribal government lawsuits accusing the pharmacy chains of mishandling opioid painkillers. CVS said Wednesday it had agreed to pay about $5 billion over …

CVS, Walmart, Walgreens agree to pay $13.8 bln to settle US opioid claims Read More »

J&J to buy heart pump maker Abiomed for $16.6 bln ahead of consumer health spinoff

Nov 1 (Reuters) – Johnson & Johnson (JNJ.N) said on Tuesday it struck a deal to buy heart pump maker Abiomed Inc (ABMD.O) for $16.6 billion in cash, as it looks to boost growth in its medical devices unit after next year’s planned spinoff of the consumer health business. J&J agreed to pay $380 per …

J&J to buy heart pump maker Abiomed for $16.6 bln ahead of consumer health spinoff Read More »

Blackstone to take control of Emerson’s climate tech in $14 billion deal

Oct 31 (Reuters) – Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values ​​the business at $14 billion, as the US industrial firm pivots to supplying to a booming automation market. The company will receive an upfront payment of about $9.5 …

Blackstone to take control of Emerson’s climate tech in $14 billion deal Read More »

Elon Musk says Twitter will revise how it verifies users

Oct 30 (Reuters) – Twitter will revise its user verification process, Elon Musk said in a tweet on Sunday, just days after he took over one of the world’s most influential social media platforms. “Whole verification process is being revamped right now”, Musk said in his tweet without giving more details. Twitter (TWTR.N) is considering …

Elon Musk says Twitter will revise how it verifies users Read More »

Musk fired Twitter execs in attempt to avoid payouts, layoffs planned – reports

Oct 29 (Reuters) – Twitter’s (TWTR.N) new owner Elon Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday to avoid stock grants due on Nov. 1, according to media reports on Saturday. Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned …

Musk fired Twitter execs in attempt to avoid payouts, layoffs planned – reports Read More »

Dogecoin surges on Elon Musk’s Twitter deal

Oct 29 (Reuters) – Dogecoin surged more than 70% on Saturday, extending this week’s gains after Elon Musk sealed a $44-billion deal to take over Twitter last week. The Tesla Inc (TSLA.O) CEO, a vocal proponent of cryptocurrencies, has heavily influenced prices of dogecoin and bitcoin. Tesla started accepting dogecoin as payment for its merchandise …

Dogecoin surges on Elon Musk’s Twitter deal Read More »