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  • May 12- AT&T Inc is expected to strike a deal with DirecTV in as early as two weeks, the Wall Street Journal reported on Monday, citing sources. DirecTV is working with advisers including Goldman Sachs Group to evaluate a possible combination following a recent takeover approach, Reuters reported last week.

  • Elizabeth Arden sales fall 20 percent Monday, 12 May 2014 | 4:11 PM ET

    May 12- U.S. cosmetics company Elizabeth Arden Inc reported a 20 percent decline in quarterly revenue, hurt by weak sales in its North American perfume business. Sales in North America fell 23 percent to $121.9 million in the third quarter.

  • *Offer values Pinnacle at $36.48/ share, roughly a 20 pct premium. May 12- Hillshire Brands Co said on Monday it would buy Pinnacle Foods Inc in a $4.3 billion deal that will combine its lineup of Jimmy Dean sausages and Hillshire lunch meats with Pinnacle's Birds Eye frozen vegetables and Vlasic pickles.

  • May 12- Eli Lilly and Co said its type 2 diabetes drug was more effective than Sanofi SA's approved drug Lantus in reducing patients' blood sugar levels in three late-stage trials. Sanofi's Lantus is the world's most prescribed insulin product with quarterly worldwide sales of about $2 billion. The drug will lose U.S. patent protection in February 2015.

  • *Allergan says offer undervalues company. *Allergan expects EPS growth of 20-25 percent. May 12- U.S. drugmaker Allergan Inc on Monday rejected Valeant Pharmaceuticals International Inc's $47 billion takeover offer, saying the suitor's proposed cost cuts were too steep.

  • MUMBAI, May 12- India's central bank said on Monday that domestic banks will be allowed to offer structured derivatives through their overseas branches even if these products are currently not allowed in India.

  • May 12- Hillshire Brands Co will buy Pinnacle Foods Inc for $4.3 billion to add products such as Duncan Hines baking mixes and Bird's Eye frozen foods to its lineup that includes Jimmy Dean sausages and Sara Lee desserts. Hillshire's other products include Hillshire Farm luncheon meats, Aidells sausages and Gallo Salame salamis.

  • May 12- Eli Lilly and Co said its type 2 diabetes treatment was as effective as Sanofi SA's approved drug Lantus in reducing patients' blood sugar levels in three late-stage trials.

  • May 12- American International Group Inc's search for its next chief executive has narrowed down to two internal candidates, the Wall Street Journal reported, citing people familiar with the matter.

  • May 12- Tesaro Inc said its drug for the prevention of chemotherapy-induced nausea and vomiting met the main goal in a third late-stage trial. Tesaro shares jumped nearly 15 percent to $27.51 in premarket trading, after the company said the drug, rolapitant, achieved statistical significance over standard therapy in 532 cancer patients.

  • *Allergan says offer substantially undervalues company. May 12- U.S. drugmaker Allergan Inc rejected Valeant Pharmaceuticals International Inc's unsolicited takeover offer, saying it substantially undervalued the company.

  • UPDATE 1-Carlyle's Adena Friedman returns to Nasdaq Monday, 12 May 2014 | 8:00 AM ET

    May 12- Nasdaq OMX Group Inc said on Monday its former chief financial officer Adena Friedman will rejoin the company as president of global corporate and information technology solutions, reporting to Chief Executive Robert Greifeld. Friedman, who left Nasdaq in 2011, was most recently chief financial officer of private equity firm Carlyle Group LP.

  • May 12- Tesaro Inc said its exprimental drug for the prevention of chemotherapy-induced nausea and vomiting met the main goal in a third late-stage trial. Tesaro shares jumped nearly 15 percent to $27.50 in premarket trading.

  • May 12- Hillshire Brands Co said it would buy Pinnacle Foods Inc for about $6.6 billion including debt, adding products such as Duncan Hines baking mixes to its portfolio that includes Jimmy Dean sausages and Hillshire Farm luncheon meats.

  • Allergan rejects Valeant Pharma's takeover bid Monday, 12 May 2014 | 7:13 AM ET

    May 12- U.S. medical firm Allergan Inc rejected the unsolicited takeover offer from Valeant Pharmaceuticals International Inc, saying it substantially undervalued the company. Canada's Valeant said on Aug. 22 that it and activist investor Bill Ackman made an unsolicited $47 billion bid to buy Allergan.

  • Hillshire to buy Pinnacle Foods for $6.6 billion Monday, 12 May 2014 | 6:38 AM ET

    May 12- Packaged food company Hillshire Brands Co said it would acquire Pinnacle Foods Inc for about $6.6 billion, including debt, in a cash and stock deal.

  • May 12- BNP Paribas and Credit Suisse Group have appealed to U.S. authorities to allow their local subsidiaries, rather than the parent companies, to plead guilty to criminal charges they face in the United States, the New York Times reported, citing people briefed on the talks.

  • Sujatha Chrishnan-Barman, analyst at Economist Intelligence Unit, says investors are "too optimistic" about the policy action that Narendra Modi will take if his party wins the Indian elections.

  • May 12- One of the plaintiffs in a lawsuit that accuses tech firms including Apple Inc and Google Inc of conspiring to hold down salaries has asked the court to reject a $324 million settlement negotiated by his own lawyers.

  • Adena Friedman returns to Nasdaq Monday, 12 May 2014 | 2:13 AM ET

    May 12- Nasdaq OMX Group Inc said Adena Friedman will rejoin the company as president of global corporate and information technology solutions, reporting to Chief Executive Robert Greifeld. Friedman, who left Nasdaq in 2011, was most recently chief financial officer of private equity firm Carlyle Group LP.