Want to get in on the tax inversion action? A new 25-stock index gives investors the opportunity to invest in potential future targets.» Read More
LONDON, May 9- U.S. drugmaker Pfizer is under fire on both sides of the Atlantic as it weighs its next move to buy British rival AstraZeneca, which could be a sweetened offer next week.
Some of the names on the move ahead of the open.
*Apple reportedly close to deal for Beats Electronics. *Apple Inc is close to paying a record $3.2 billion for Beats Electronics, two people with knowledge of the matter said, an expensive foray into music streaming and headphone gear.
*CEO Maurice Levy says Publicis needs to be bigger. PARIS, May 9- Advertising agency Publicis will probably return money to shareholders and pursue smaller acquisitions this year as it seeks to get back on track after the failure of a $35 billion merger with U.S. peer Omnicom.
The $35 billion merger between Omnicom and Publicis has collapsed as challenges proved too immense for the partners.
Martin Sorrell, WPP Group CEO, discusses the fallout in the proposed merger between Omnicom and Publicis.
May 8- The proposed $35 billion merger between Omnicom Group Inc, the No. 1 U.S. advertising company, and French rival Publicis Groupe SA has been called off, according to a person familiar with the situation.
LONDON, May 1- Pfizer's plan to buy AstraZeneca for around $100 billion could face antitrust hurdles in China, where the two companies rank No. 1 and No. 2 among multinational suppliers in the prescription drug market.
LONDON/ NEW YORK/ PARIS, May 1- Publicis and Omnicom have lost more than $1.5 billion of client work in recent weeks and face a fight to retain billions more, including a huge Samsung contract, just as the two advertising firms struggle to keep their merger on track.
U.S. drugmaker Pfizer Inc said on Monday it has made takeover bids for UK rival AstraZeneca Plc in a possible deal to merge the two into a UK holding company with a UK tax domicile. With the U.S. Congress deadlocked over tax-and-spending policy, the chances of an inversion crackdown becoming law soon were slim, said analysts, though it could not be ruled out.
The Obama administration is focused on finding ways to curb tax-motivated reincorporations to other countries by U.S. businesses.
*Structure of proposed deal for AstraZeneca sparks concerns. April 28- A wave of tax-driven overseas deal-making by U.S. companies gained momentum with drugmaker Pfizer Inc's announcement on Monday that it had made takeover bids for UK rival AstraZeneca Plc, fueling political concerns about tax "reflagging" strategies.
*Omnicom, Publicis tie-up delayed by antitrust, tax reviews.
LONDON, April 25- WPP, the world's largest advertising group, reported a much better than expected 7 percent rise in first quarter like-for-like revenue growth and said it had seen a surge in new client wins due to changes in the industry.
LONDON, April 25- WPP, the world's largest advertising group, reported first quarter like-for-like revenue growth of 7 percent, much better than expected, and said it had seen a surge in new business wins due to changes in the industry.
The shift in the “atmosphere around tax” globally is “significant” and has “hardened,” the chief executive of WPP has told CNBC.
The new company would be registered in the Netherlands and tax resident in the UK. Wren added that if the UK and the Netherlands did not approve the structure, the whole deal was at risk since "there is no Plan B", though Publicis said on Thursday it was confident the deal would still proceed.
Unforeseen tax issues have thrown the $35bn merger of Publicis and Omnicom into jeopardy, the Financial Times reports.
*U.S. revenue rises 4 pct at Omnicom, 5 pct at Interpublic. *Omnicom 1st- qtr revenue $3.50 bln vs est $3.48 bln. April 22- Omnicom Group Inc, the No. 1 U.S. advertising company, said it was unable to predict when its $35.1 billion merger with France's Publicis Groupe SA would close as the deal was yet to win some key approvals.
*U.S. revenue rises 4 pct at Omnicom, 5 pct at Interpublic. *Interpublic revenue $1.64 bln vs est $1.60 bln. April 22- U.S. advertising companies Omnicom Group Inc and Interpublic Group of Cos reported better-than-expected revenue, mainly due to higher ad spending in their home market.