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Takeover Bids

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  • 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- Valeant Pharmaceuticals Inc Chief Executive Michael Pearson said in an interview with Reuters on Monday that he is confident a revised bid for Allergan Inc will be worth over $200 per share, once Valeant's stock rises and with cash added to the offer. Pearson said Valeant could make a revised offer at any time and that the company's stock has been hurt by...

  • Valeant's bid for Allergan     Monday, 20 Oct 2014 | 7:22 AM ET

    Michael Pearson, Valeant Pharmaceuticals CEO, shares his thoughts on allegations Allergan released false and misleading information.

  • Shares in Dutch feed company Nutreco surge Monday, 20 Oct 2014 | 5:23 AM ET

    AMSTERDAM— Shares in Dutch animal and fish feed supplier Nutreco NV have surged after the company announced a management-backed 2.69 billion takeover offer from privately-owned trading company SHV Holdings. SHV's 40- euro per share cash offer for Nutreco represents a 42- percent premium to shares' closing price Friday. Nutreco CEO Knut Nesse said Monday...

  • Oct 17- Activist investor Elliott Advisors UK Ltd nominated seven candidates for election to Family Dollar Stores Inc's board as it looks to push for a sale of the dollar store operator to bigger rival Dollar General Corp.. Dollar General's offer is "clearly superior" to Dollar Tree Inc's bid, Elliott said in a letter to Family Dollar's board and Chief Executive...

  • Hedge fund seeks board seats at Family Dollar Friday, 17 Oct 2014 | 5:35 PM ET

    Family Dollar Stores Inc. accepted an $8.5 billion cash and stock buyout offer from fellow discounter Dollar Tree in July. Family Dollar said previously that regulators are less likely to raise antitrust concerns in a deal with Dollar Tree. Elliott Management said that Family Dollar missed a chance to get Dollar General and Dollar Tree into a bidding war.

  • Buying an airline for 88 cents Thursday, 16 Oct 2014 | 10:52 PM ET

    Airline Virgin Australia has coughed up a whopping one Australian dollar to buy the 40 percent of Tiger Australia it didn't already own.

  • Chiquita rejects offer from Safra and Cutrale Thursday, 16 Oct 2014 | 4:44 PM ET

    NEW YORK— Chiquita says it is rejecting a new buyout offer from two Brazilian companies and will go ahead with its plan to merge with Irish fruit importer Fyffes. Chiquita says the offer from investment firm Safra Group and juice company Cutrale Group isn't high enough and the Fyffes deal will bring more value to shareholders. Safra and Cutrale initially...

  • 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...

  • KUALA LUMPUR, Oct 15- Malaysian Airline System Bhd, the loss-making airline hit by two separate jet disasters this year, said on Wednesday the buyout offer from its major shareholder is fair and minority shareholders should accept the offer. MAS's directors recommended the move after its audit committee, under the advice of independent adviser AmInvestment...

  • *Qualcomm beats out possible bidder Microchip for CSR. *CSR purchase helps Qualcomm diversify beyond phones. Qualcomm Inc agreed to buy CSR Plc for $2.5 billion, offering what it hopes is a knock-out blow to win the British Bluetooth specialist which is growing in areas like automotive and wearable devices.

  • CHICAGO, Oct 13- Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd, but analysts said any such deal would face significant regulatory and other hurdles. The Wall Street Journal reported on Sunday that the No. 2 Canadian railroad made a bid last week for Jacksonville,...

  • PARIS, Oct 13- French low-cost telecoms operator Iliad abandoned its attempt to buy T-Mobile US on Monday because of resistance from majority owner Deutsche Telekom, becoming the third bidder to walk away in three years. "The Iliad group announces that it puts an end to its project of acquiring T-Mobile US, following exchanges with Deutsche Telekom and selected...

  • CHICAGO, Oct 13- Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd, but analysts said any such deal would face significant regulatory and other hurdles. The Wall Street Journal reported on Sunday that the No. 2 Canadian railroad made a bid last week for Jacksonville,...

  • CHICAGO, Oct 13- Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd, but analysts said any such deal would face significant regulatory and other hurdles. According to the report in the Wall Street Journal late on Sunday, the No. 2 Canadian railroad made a bid last week for...

  • MADRID, Oct 13- Spain's Gas Natural said on Monday it was leaving its 2015 payout plans unchanged after announcing a $3.3 billion takeover offer for Chile's biggest electricity distributor Compania General de Electricidad. Analysts at Barclays said in a note that the acquisition seemed expensive and posed questions on Gas Natural's dividend policy.

  • *Gas Natural to launch 4,700 peso per share bid for CGE. MADRID/ SANTIAGO, Oct 12- Spain's Gas Natural on Sunday said it would launch a $3.3 billion takeover offer for Chile's biggest electricity distributor Compania General de Electricidad, in a bid to boost its presence in growing Latin American markets. As part of the deal with those investors, Gas Natural will...

  • Dollar General, which is vying with rival Dollar Tree to buy Family Dollar, also received a second request from the FTC under U.S. anti-trust regulations, Family Dollar said. In August, Family Dollar rejected a $9 billion buyout offer from Dollar General, opting instead for a smaller cash-and-stock bid of $8.5 billion by Dollar Tree. The company also spurned...

  • Oct 9- Botox maker Allergan Inc said on Thursday it expects to report third-quarter profit that is more than 20 percent higher than it previously anticipated, which it said bolsters its contention that an unsolicited takeover offer by Valeant Pharmaceuticals Inc undervalues the company. Allergan has criticized the company's model of growing through...

  • Oct 9- Botox maker Allergan Inc lifted its third-quarter profit estimate and said the updated forecast showed that Valeant Pharmaceuticals Inc's takeover offer undervalued the company. "Today's announced expectations for the third quarter and updated future outlook further demonstrate that there is a vast value gap between Valeant's offer and the...