Caremark Rx Inc. shareholders have approved an almost $27 billion offer from drugstore chain CVS Corp. to takeover the leading pharmacy-benefits-management company. The company has said that the acquisition will change the landscape of the pharmacy industry and form a company that will manage more than one billion prescriptions every year. CVS shareholders had approved [...]
Britain’s Imperial Tobacco Plc has said that it would continue ‘friendly’ efforts to acquire rival Altadis after the Franco-Spanish company rejected its 45 euros per share takeover offer. Imperial, which manufactures Lambert and Butler and Embassy cigarettes, had offered 11.5 billion euros ($15.3 billion) for Altadis last week. However, the offer was turned down by [...]
Barclays Plc has approached Dutch bank ABN AMRO with a merger plan that would create a global bank worth $155 billion. According to the reports Barclays is in talks with ABN Amro Holding NV about a possible purchase of the largest Dutch bank in what would be Europe’s biggest financial-services merger. The move however, is [...]
German tourism and shipping company TUI AG has announced that it will acquire U.K. based First Choice Holidays PLC, to form a European travel giant. The firm further reported that the new company, TUI Travel PLC, will have annual revenue of £12.1 billion, or about $23.49 billion. The company has been planned to be based [...]
Barclays and ABN Amro have inched closer to a takeover after agreeing to move ABN Amro’s headquarter to Amsterdam and allow the Dutch bank to appoint its new chairman if the deal is concluded. However, Barclays, which is in exclusive talks with ABN Amro to create one of the world’s largest financial institutions, is expected [...]
The $8.4 billion private equity offer to acquire Qantas is now set to be grounded, with a large institutional shareholder opting not to accept its offer and others are considered to follow suit. In addition to it, a key shareholder Balance Equity Management, which holds four per cent of Qantas, has rejected the $5.45-a-share offer. [...]
General Electric Co. said that it will launch a tender offer for all shares of Sanyo Electric Credit Co. in a takeover bid valued at up to 135 billion ($1.14 billion). The US based multinational firm will launch the tender offer after defeating offers from firms such as Japan’s Shinsei Bank Ltd. according to a [...]
In an interesting twist in the $80 billion ABN AMRO-Barclays merger story, British hedge fund TCI has announced that it will take legal action against ABN AMRO, which at present involved in vigorous exclusive merger talks with Britain’s Barclays. TCI has threatened that a legal course is inevitable unless the Dutch bank considers other offers [...]
Beckman Coulter Inc., a medical-test company, has announced that it has forged a deal to acquire Biosite Inc. for $1.55 billion. The decision was taken with a view that the combination will strengthen Beckman’s presence in a specialized segment of the diagnostic-test market. Fullerton, Calif. based Beckman Coulter has said it will acquire entire Biosite’s [...]
Xstrata, the mining group has agreed to acquire Canada-based nickel producer LionOre for $5.35 billion. The acquisition will follow Xstrata’s $18.8 billion takeover of Falconbridge, another Canadian mining group, last year. The offer for the Canadian nickel and gold producer turned up in the form of an all-cash offer for all of LionOre’s issued and [...]
