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...» Read More
WASHINGTON, June 24- AT&T Inc's proposed merger with DirecTV does not compare with other mergers shaking up the telecommunications industry because the companies largely provide different services, AT&T's chief executive told lawmakers on Tuesday.
WASHINGTON, June 24- DirecTV's chief executive officer told lawmakers on Tuesday that the largest U.S. satellite television provider needs to merge with AT&T Inc so that it can offer Internet service to consumers that is critical to remaining competitive.
Peter Sorrentino, Senior Portfolio Manager at Huntington Asset Advisors, explains why Siemens and Mitsubishi Heavy are the winners of a "compromised deal" between General Electric and Alstom.
Allergan advised investors not to sell their shares to Valeant, which launched a hostile takeover offer for the Botox maker last week.
Oracle agreed to buy Micros Systems in a $5.3 billion deal, Dow Jones reported Monday.
LONDON, June 20- The FTSEurofirst 300 climbed to a 6-1/ 2- year high on Friday and recorded its 10th straight week of gains, with analysts saying that expectations of a pick-up in merger and acquisition activity will further boost sentiment.
Siemens and Mitsubishi Heavy Industries raised their offer for Alstom's energy businesses to compete with a revised bid by General Electric.
Sprint has lined up eight banks to finance its proposed acquisition of T-Mobile US.
CNBC has learned that the revised proposal would create three energy joint ventures between GE and the French multinational.
GE chief executive will unveil an improved offer for the energy arm of Alstom on Thursday, according to sources.
If Bob Olstein is right, the climate for takeovers is just beginning to heat up.
NEW YORK, June 17- About a quarter of U.S. merger and acquisition deals have insider-related options trading activity before official announcements, but only a fraction are being investigated by regulators, according to an academic study.
Rival suitors GE and Siemens were told by the French government to come up with better offers for engineering group Alstom on Tuesday.
FMHR trader Pete Najarian provides perspective on a new study which reveals suspicious profitable trades surrounding public company deals. Andrew Ross Sorkin, weighs in.
CNBC's Andrew Ross Sorkin provides insight to a new study which reveals just how prevalent insider trading is on Wall Street.
Joe Kaeser, CEO of Siemens, says that his group's offer for Alstom's power assets is "compelling", and "superior" to the one proposed by General Electric.
Valeant said it plans to launch an exchange offer to Allergan shareholders this week, soliciting proxies to call for a meeting to discuss its offer.
LONDON, June 17- Merger and acquisition speculation gave European stocks a shot in the arm on Tuesday, while commodity and emerging market investors were somewhat calmed by the absence of an escalation in the Iraq crisis overnight.
Yukihiro Kumagai, Analyst at Jefferies, says the joint bid by Siemens and Mitsubishi Heavy Industries is "a little behind" General Electric's formal offer.
CHICAGO, June 16- Well before Medtronic Inc and Covidien Plc announced their $43 billion merger, the two medical device makers had reached common conclusions about how they needed to change. U.S.-based Medtronic on Sunday said it would buy Covidien and moving its executive headquarters to Ireland to take advantage of lower corporate tax rates.