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Mergers

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  • TORONTO, Oct 21- Canadian Pacific Railway Ltd is still open to a merger with one of the two bigger eastern U.S. carriers even after talks with CSX Corp failed, though a hostile bid is unlikely, Chief Executive Hunter Harrison said on Thursday. Norfolk Southern Corp is the other of the two bigger U.S. railways based east of Chicago. Without mentioning Norfolk Southern...

  • SAO PAULO, Oct 21- Shareholders of Chiquita Brands International Inc. should consider alternatives to a proposed merger with Irish produce firm Fyffes Plc, proxy advisory firm Glass Lewis said on Tuesday. Shareholders are set to vote on Fyffes' revamped all-stock offer of $11.80 per Chiquita share at a special meeting on Oct. 24. "We expect shareholders may...

  • UPDATE 1-U.S. ad spending boosts Omnicom third quarter Tuesday, 21 Oct 2014 | 8:29 AM ET

    Oct 21- Omnicom Group Inc, the No. 1 U.S. advertising company, reported quarterly revenue and profit above analysts' expectations, boosted by higher ad spending in the United States. Omnicom, whose merger with France's Publicis Groupe SA was aborted in May, said revenue rose 7.4 percent to $3.75 billion in the third quarter while ad revenue rose 12.5 percent.

  • 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- Allergan Inc shareholder Paulson& Co is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc as an alternative to a deal with hostile bidder Valeant Pharmaceuticals International Inc, according to two people familiar with the matter. The hedge fund, which earlier supported a deal with Valeant, told Allergan CEO David Pyott...

  • Lorillard CEO to get $44M after Reynolds merger Monday, 20 Oct 2014 | 12:21 PM ET

    RICHMOND, Va.— The CEO of Newport cigarette maker Lorillard Inc. is set to receive more than $44 million following the planned $25 billion merger with Reynolds American Inc., regulatory filings show. Murray Kessler is one of several Lorillard executives to receive compensation if they're terminated after the deal closes, according to a filing with the...

  • Oct 20- Allergan Inc shareholder Paulson& Co is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc as an alternative to a deal with hostile bidder Valeant Pharmaceuticals, according to two people familiar with the matter. The hedge fund told Allergan CEO David Pyott that it would support a deal with Shire, the sources said.

  • ISS reverses position; backs Fyffes-Chiquita deal Monday, 20 Oct 2014 | 11:51 AM ET

    A proxy advisory firm has reversed its position and is now urging Chiquita shareholders to vote in favor of a proposed merger with Irish fruit company Fyffes. The company agreed in March to merge with Irish fruit company Fyffes in an all-stock deal that would create the largest banana company in the world. Under the amended agreement, Fyffes shareholders will...

  • Oct 20- Canadian Pacific Railway Ltd said on Monday that it had ended talks to buy CSX Corp and that the two companies planned no further discussions, sending shares of the No. 3 U.S. railroad operator down more than 3 percent. Neither side had confirmed the talks, initially reported by the Wall Street Journal a week ago. However, analysts had said service problems...

  • Canadian Pacific ends CSX deal talks Monday, 20 Oct 2014 | 7:48 AM ET

    Canadian Pacific Railway has ended talks with U.S. counterpart CSX about a possible combination and plans no more discussions. Several reports had surfaced recently that CSX Corp. had rejected a merger offer from Canadian Pacific Railway Ltd. Both railroads declined to comment on the deal talk, but CSX CEO Michael Ward did say last week that the Surface...

  • Goldman's $100M spreadsheet error Friday, 17 Oct 2014 | 6:40 PM ET
    Traders work at the Goldman Sachs booth on the floor of the New York Stock Exchange.

    A spreadsheet mix-up led Goldman to misrepresent the number of outstanding shares in Tibco Software, the NYT reports.

  • Yara, CF Industries abandon merger talks Friday, 17 Oct 2014 | 4:31 AM ET

    STOCKHOLM— Norway's Yara International and Deerfield, Illinois- based CF Industries have abandoned merger talks that would have created a massive player in the fertilizer industry. Torger Kvidal, the CEO of Yara International ASA, said Friday that despite significant synergies, "in the end it became clear that we would not be able to agree on terms that would be...

  • CHICAGO, Oct 16- The head of a U.S. Senate subcommittee raised concerns in a letter on Thursday to the U.S. Attorney General and head of the top U.S. rail regulator about a potential merger between Canadian Pacific Railway Ltd and CSX Corp, and called on them both to fully review the antitrust implications of any such deal. "Given recent concerns about shipping delays...

  • Hackensack, Meridian Health planning merger Thursday, 16 Oct 2014 | 11:00 AM ET

    Meridian Health and Hackensack University Health Network officials said Thursday that they have signed a memorandum of understanding and are working toward a merger. "Today's announcement brings us one step closer to providing our counties and surrounding regions with a strong community and patient-focused health care system while becoming a national...

  • Brazilian pair boosts bid for Chiquita to $658M Wednesday, 15 Oct 2014 | 10:37 AM ET

    Chiquita already has a merger agreement in place with Irish fruit importer Fyffes that would give Chiquita's stockholders nearly a 60 percent stake in the combined company under an all-stock deal. Fyffes shareholders would own about 40 percent. That same month Fyffes' proposed merger agreement with Chiquita was revised to give Chiquita shareholders a...

  • *Shire shares tumble as AbbVie reconsiders bid. Aside from concerns about the global economy, Chicago- based AbbVie said it was reconsidering its $55 billion takeover of the company weeks after the U.S. government moved to curb deals designed to reduce tax, throwing the vitality of merger and acquisition activity into doubt. U.S.-listed shares of Shire tumbled...

  • LONDON, Oct 15- European shares fell on Wednesday, weighed down by UK healthcare stocks after U.S. suitor AbbVie Inc said it would reconsider its bid for UK pharmaceutical firm Shire. Shares in Shire fell nearly 30 percent in early deals after AbbVie said it intended to reconsider its recommendation to shareholders to vote in favor of the 32 billion pound merger...

  • Oct 14- AbbVie Inc said it intends to reconsider its recommendation to its shareholders to vote in favor of the 32 billion pound merger with Shire Plc due to the changing U.S. tax regulations. Chicago- based AbbVie, which makes top-selling arthritis drug Humira, is eager to buy Shire to reduce its U.S. tax bill by moving its tax base to Britain and to diversifying its...

  • Oct 13- U.S. healthcare technology group Danaher Corp said it would become majority shareholder in network monitoring company NetScout Systems Inc through a stock deal that involves the merger of Danaher's communications business with NetScout. Under the deal, Danaher shareholders will get NetScout shares worth $2.6 billion that will give them a 59.5...

  • *FCA trading on NYSE opens 1330 GMT, followed by Milan. MILAN, Oct 13- Fiat Chrysler Automobiles makes its Wall Street debut to great fanfare on Monday, shifting the carmaker's centre of gravity away from Italy and capping a decade of canny dealmaking and tough restructuring by CEO Sergio Marchionne. Analysts think the U.S. auto industry is nearing a peak, while...