Mergers and Acquisitions Acquisitions

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  • Andrew Cuomo is urging federal regulators to reject KeyCorp's $4.1 billion deal to buy First Niagara Financial Group and create the 13th largest commercial bank in the United States. The New York Democrat says the proposed acquisition of Buffalo- based First Niagara by Cleveland- based KeyCorp would reduce retail banking competition in upstate New York,...

  • Asahi offers to buy Peroni, Grolsch beers from AB Inbev Wednesday, 10 Feb 2016 | 9:54 AM ET

    LONDON— Budweiser-maker AB InBev has received a binding offer of 2.55 billion euros for the European beer brands Grolsch, Peroni and Meantime— a sale that is meant to address regulatory concerns about its mega merger with SABMiller. "SABMiller has grown Peroni and Grolsch into world-renowned premium brands, and we are confident that, along with fast-growing...

  • Staples gets EU approval for acquisition of Office Depot Wednesday, 10 Feb 2016 | 7:16 AM ET

    NEW YORK— Staples has received European approval for its buyout of Office Depot and in exchange, it said Wednesday that it would split off some operations in Europe to allay monopoly fears. The company will divest all of Office Depot's operations in Sweden, as well as European retail, contract, online and catalog operations in an agreement with the European...

  • *Asahi eyes overseas growth as beer sales fall in Japan. TOKYO, Feb 10- Asahi Group Holdings Ltd has reached a preliminary deal to buy SABMiller PLC's Peroni and Grolsch beer brands for over 400 billion yen, the Nikkei daily reported, as part of efforts to offset slow growth at home. But the company has sought grow outside Japan where beer sales have fallen over the...

  • Canadian Pacific wants vote on Norfolk Southern deal Tuesday, 9 Feb 2016 | 2:25 PM ET

    OMAHA, Neb.— Canadian Pacific plans to ask Norfolk Southern shareholders whether they want the two railroads to pursue a merger. Canadian Pacific said Tuesday that it plans to submit a shareholder resolution on a possible deal at Norfolk Southern's annual meeting this spring. Norfolk Southern has sternly rejected all of Canadian Pacific's takeover offers...

  • *Lonmin focused on turning cash positive. CAPE TOWN, Feb 9- Platinum producer Lonmin will not "shy away" from any merger or takeover but for now the company is focused on its plan to survive tough market conditions, its chief executive said on Tuesday. Should it be of benefit to our shareholders and stakeholders it's not something we would shy away from, "CEO Ben Magara...

  • PARIS, Feb 8- Casino could beat a 4 billion euro asset disposal target this year following the sale of its Thai business, the French retailer's finance chief said on Monday. The sale of a 58.6 percent stake in Big C for 3.1 billion euros, excluding debt, to Thailand's TCC Group is part of a plan by Casino to reduce its 6 billion euros of debt. Casino's sale of its Big C...

  • DOHA, Qatar— The Qatari state oil company, Qatar Petroleum, says it has reached a deal with Chevron to acquire 30 percent of its stake in offshore drilling areas in Morocco. Under the terms of the deal announced Monday, Chevron will hold onto a 45- percent interest in the offshore leases, while Morocco will retain a 25 percent stake. The drilling areas are known as Cap...

  • Can 'Magic Tree House' save Lionsgate? Friday, 5 Feb 2016 | 12:32 PM ET
    The Magic Tree House books

    Lionsgate revealed on Thursday that it had acquired "The Magic Tree House" books for an undisclosed sum and will be developing live-action films.

  • LONDON, Feb 5- CK Hutchison Holdings Ltd has received the EU's list of objections to its takeover of Telefonica's O2, which will create Britain's biggest mobile operator and cut the number of networks to three, a person familiar with the situation said. European Union antitrust regulators launched a full investigation last October into Hutchison's 10.3...

  • By Makiko Yamazaki and J.R. Wu. OSAKA, Japan/ TAIPEI, Feb 5- Taiwan's Foxconn is aiming to finalise a deal to acquire Sharp Corp by the end of the month, after the two firms reached a consensus on most points at a meeting on Friday, Foxconn Chief Executive Officer Terry Gou said. The Apple Inc supplier has offered to invest around 659 billion yen in Sharp, sources familiar...

  • *Gou to hold news conference in Osaka at 0600 GMT. TAIPEI/ TOKYO, Feb 5- Foxconn Chief Executive Officer Terry Gou is in Osaka to meet executives of Japan's Sharp Corp, a Sharp spokesman said, one day after the struggling electronics maker said it was focusing on the Taiwan firm's takeover bid over a rival offer from a Japanese state-backed fund.

  • Feb 4- State Street Corp is nearing a deal to acquire General Electric Co's $115 billion asset management business, according to people familiar with the matter, as the U.S. industrial conglomerate continues to shed unloved assets. State Street, a Boston- based asset manager, has prevailed over other bidders, including Goldman Sachs Group Inc, for the business, and...

  • MADRID, Feb 4- Mexican billionaire Carlos Slim is set to launch a full takeover bid for Spanish building and infrastructures firm FCC after a planned rights issue due to be approved soon, a source familiar with the matter said. Slim's holding company Inversora Carso group, is currently FCC's main shareholder with a 27.43 percent stake, closely followed by Esther...

  • *China needs top notch waste management technology. FRANKFURT, Feb 4- Beijing Enterprise is buying German waste management company Energy from Waste for 1.4 billion euros as China sets about tackling its pollution and waste recycling problems. China set a target to spend about $16 billion between 2013 and 2016 to improve sewage disposal and garbage treatment...

  • TOKYO, Feb 4- Sharp Corp has chosen Taiwan's Foxconn as its preferred bidder in takeover talks, sources with knowledge of the decision said- paving the way for the biggest acquisition by a foreign company in Japan's insulated tech sector. That was more than double the amount proposed by a state-backed fund, the Innovation Network Corp of Japan.

  • TOKYO, Feb 4- Sharp Corp's CEO Kozo Takahashi said the company was focusing on talks with Taiwan's Hon Hai Precision Industry and that the two companies had built up trust in the three years of jointly operating a plant in Japan. Sharp earlier decided to give Hon Hai, also known as Foxconn, preferred negotiating rights in takeover talks, choosing its more generous...

  • *Hon Hai offered to invest around 700 bln yen- source. TOKYO, Feb 4- Struggling electronics maker Sharp Corp has decided to give Taiwan's Foxconn preferred negotiating rights in takeover talks, choosing its more generous offer over a rescue plan from a Japanese state-backed fund, sources with knowledge of the decision said. A Sharp executive plans to go to Taiwan...

  • LONDON— British-based drugmaker GlaxoSmithKline posted a loss of 428 million pounds for the fourth quarter of 2015— compared with a profit of over 1 billion pounds for the same period a year earlier— as the company moved to integrate new businesses. Those deals included GSK's sale of its cancer-drug business to Novartis in a swap for the Swiss company's...

  • NEW YORK— Lowe's is expanding its footprint in Canada with a $2.3 billion acquisition of the home improvement retailer Rona. Chairman and CEO Robert Niblock said in a written statement Wednesday that the acquisition gives Lowe's exposure in Quebec, a province of more than 8 million people, where Lowe's currently has no presence. Lowe's has had limited...