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  • BGC launches tender offer for GFI shares Wednesday, 22 Oct 2014 | 1:56 PM ET

    NEW YORK— BGC Partners Inc.' s hostile takeover bid for derivatives and currency brokerage firm GFI Group Inc. began Wednesday with the launch of its tender offer. GFI agreed in July to be acquired by CME Group in a $4.55 per-share deal. Shares of New York- based BGC Partners rose 1 percent to $7.57 by early afternoon, amid a modest market dip.

  • BOSTON, Oct 20- Billionaire investor William Ackman, whose fund is the largest shareholder in Allergan Inc., and Valeant Pharmaceuticals said the botox maker's Chief Executive Officer David Pyott tried to discredit Valeant as it was making a hostile takeover bid, court documents showed. Ackman's hedge fund has been working with Valeant for months to craft a...

  • AbbVie: $55B acquisition of Shire officially dead Monday, 20 Oct 2014 | 6:18 PM ET

    AbbVie will pay Shire a $1.64 billion breakup fee for walking away from the deal.

  • AbbVie to pay Shire $1.64B fee over nixed merger Monday, 20 Oct 2014 | 5:49 PM ET

    NORTH CHICAGO, Ill.— AbbVie is walking away from its proposed $55 billion takeover bid of Shire and has agreed to pay the rival drugmaker a $1.64 billion breakup fee. The two companies said Monday that they deal was off following the decision last week by AbbVie's board to withdraw support from the proposed acquisition. North Chicago- based AbbVie had envisioned...

  • Oct 20- U.S. drugmaker AbbVie Inc said on Monday it has reached agreement with Shire Plc to officially call off its proposed $55 billion purchase of the Irish company, and will pay Shire a $1.64 billion breakup fee for walking away from the deal. AbbVie, which last week said its board of directors had withdrawn its recommendation to proceed with the Shire purchase,...

  • GlobalFoundries: No layoffs in IBM chip units Monday, 20 Oct 2014 | 2:17 PM ET

    ALBANY, N.Y.— GlobalFoundries' chief executive said Monday the chip manufacturer plans no shutdowns or layoffs at the IBM semiconductor factories in New York's Hudson Valley and Vermont that it is acquiring. CEO Sanjay Jha told reporters on a conference call that GlobalFoundries will welcome about 5,000 IBM employees, including "800 of the best technologists...

  • Tesoro strikes $2.5B deal with QEP Monday, 20 Oct 2014 | 12:57 PM ET

    Tesoro Logistics LP said Sunday that it will acquire the natural gas gathering and processing business owned by QEP Resources Inc. in a $2.5 billion deal. Tesoro Logistics, based in San Antonio, is a limited partnership formed by Tesoro Corp.. Shares of Tesoro Corp. jumped 6 percent to $64.27 by midday; Tesoro Logistics fell 9 percent to $60.87.

  • WASHINGTON, Oct 20- The top two lawmakers on the Senate's antitrust panel have urged regulators to scrutinize food distributor Sysco Corp's planned purchase of rival U.S. Foods for $3.5 billion. Sysco and U.S. Foods are the only companies with the geographic reach to offer nationwide contracts to deliver a wide variety of goods from napkins to eggs to cleaning...

  • PARIS, Oct 20- European shares dipped in early trading on Monday as the previous session's sharp rebound lost steam, although takeover activity boosted the shares of Nutreco, Adidas and Havas. Shares in Dutch animal feed and nutrition company Nutreco jumped 38 percent after SHV, a privately-held Dutch investment firm, said it had reached a conditional...

  • Yahoo set to outline cost-cutting efforts - WSJ Monday, 20 Oct 2014 | 12:54 AM ET

    Oct 20- Yahoo Inc is expected on Tuesday to outline cost-cutting efforts and give details of how it is evaluating possible acquisitions as it faces pressure from an activist investor, the Wall Street Journal reported, citing a person who was briefed on the plan. Yahoo is considering acquiring one or more large technology startups with some of the $5.8 billion it...

  • Activist urges new leadership at Family Dollar Friday, 17 Oct 2014 | 5:47 PM ET
    A Family Dollar store on July 28, 2014 in Hollywood, Florida.

    Elliott Management sent a letter to Family Dollar's board, nominating seven new directors on Friday.

  • *HKEx sees bonanza in China after $2.2 bln LME takeover. To churn out profits, the LME plans to attract more financial investors such as hedge funds and expand its tentacles into mainland China, which for now remains elusive. As part of a strategy of expanding into China, the LME plans to add the Chinese currency as collateral for clearing of metals contracts by...

  • LONDON, Oct 17- "In short, this is not a takeover; it is a marriage". That's how Charles Li, chief executive of Hong Kong Exchanges and Clearing, described the 1.38 billion sterling purchase of the London Metal Exchange back in 2012.. He was speaking at the LME's annual black-tie dinner at the Grosvenor House in London, conceding that it was the first time he himself, once...

  • Goldman Sachs in talks to buy ETF provider: Sources Thursday, 16 Oct 2014 | 11:37 PM ET

    Goldman Sachs is in discussions to acquire IndexIQ, an exchange-traded fund provider, according to three sources familiar with the situation.

  • Oct 16- Goldman Sachs Group is in discussions to acquire IndexIQ, a Rye Brook, New York- based exchange-traded fund provider, according to three sources familiar with the situation. In September, Goldman sought permission from the U.S. Securities and Exchange Commission to introduce a series of actively managed ETFs 1/ 8 ID: nL2N0RN1N7 3/ 4. However, if Goldman were...

  • SW Energy snaps up assets in Marcellus, Utica Thursday, 16 Oct 2014 | 7:43 AM ET

    HOUSTON— Southwestern Energy will spend about $5.38 billion to acquire drilling assets in West Virginia and southwest Pennsylvania now owned by Chesapeake Energy. Southwestern said Thursday that by 2017' s end it estimates the reserve mix to be approximately one third each for the Fayetteville, northeast Marcellus and the newly acquired West Virginia and...

  • *AbbVie board recommends shareholders vote against deal. *AbbVie to pay Shire $1.64 bln break fee if deal collapses. LONDON, Oct 16- U.S. drugmaker AbbVie has pulled the plug on its plan to buy Dublin- based Shire, recommending shareholders vote against the planned $55 billion takeover following new U.S. tax rules.

  • *AbbVie board recommends shareholders vote against deal. *AbbVie to pay Shire $1.64 bln break fee if deal collapses. LONDON, Oct 16- U.S. pharmaceutical company AbbVie has pulled the plug on its plan to buy Dublin- based drugmaker Shire, recommending shareholders vote against the planned $55 billion takeover following new U.S. tax rules.

  • AbbVie sours on $55B Shire deal after tax changes Thursday, 16 Oct 2014 | 12:47 AM ET

    AbbVie's board is telling shareholders to vote against its own $55 billion takeover bid for the Irish drugmaker Shire after the U.S. made reincorporating overseas a less lucrative tax maneuver. If Abbvie does walk away, it would be the biggest deal yet that has collapsed after a public backlash against the moves, known as tax inversions, and changes in U.S. tax...

  • Those are the sort of prizes Chinese aluminium firm Chinalco, the top shareholder in Rio Tinto, is likely to be looking for as trading giant Glencore weighs up a fresh takeover approach for the Anglo-Australian miner, people familiar with Chinalco's strategy said. Rio Tinto rebuffed an approach from Glencore in August that would have created a $160 billion...