Sanofi said on Monday it had agreed to buy California-headquartered biotechnology firm Synthorx in a cash deal worth about $2.5 billion aimed at beefing up the French drugmaker’s pipeline of drugs for cancer and auto-immune disorders.
(Bloomberg) — Beleaguered Coffee Day Enterprises Ltd.’s sale of its technology park to Blackstone Group Inc. is stalled as one of its creditors hasn’t approved the deal, people with the knowledge of the matter said.Yes Bank Ltd. hasn’t issued the so-called no objection certificate as it’s seeking assurances on repayments of other loans taken by Coffee Day, said the people, asking not to be identified as the information isn’t public. All other creditors have approved the transaction, the people said.Shares of Coffee Day extended decline to as much as 14.5% in Mumbai, which is the biggest drop since July 31.Coffee …read more […]
Lufthansa will initiate the sale of the parts of its catering unit LSG it is not selling to Switzerland’s Gategroup early next year, the German carrier said on Monday. Lufthansa announced last month it is selling the European operations of LSG to Gategroup. The businesses it is selling generated revenues of around 1.1 billion euros ($1.21 billion)last year – about a third of LSG’s total. …read more […]
(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Tullow Oil Plc’s chief executive officer and exploration director quit after a slew of operational setbacks, marking the exit of the old guard after founder Aidan Heavey departed last year. Shares slumped.CEO Paul McDade and exploration chief Angus McCoss resigned by mutual agreement and with immediate effect, London-based Tullow said Monday as it suspended the dividend. Both had been stalwarts at the company for over a decade, presiding over discoveries from West Africa to Guyana, but also a 90% slide in the …read more […]
(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Britain’s biggest supermarket chain, Tesco Plc, is considering the sale of its operations in Thailand and Malaysia as it refocuses on its domestic business amid mounting challenges in the core U.K. market.The company is carrying out a strategic review of the businesses after receiving what it called inbound interest, according to a statement. The shares rose 4.6% early Monday in London, and they’re up 28% this year. A sale could value the operations at 6.5 billion to 7.2 billion pounds ($8.6 billion …read more […]
Oil prices fell on Monday after data showed that Chinese exports declined for a fourth straight month, sending shivers through a market already concerned about damage being done to global demand by the Sino-U.S. trade war.
(Bloomberg Opinion) — After a decade of gloom, there’s a new sense of euphoria in Athens. The Greek stock exchange is on course to be the world’s best performer this year because investors believe the new prime minister, Kyriakos Mitsotakis, will deliver on his promise to attract foreign investment and boost growth.The star performers are bank shares, which have nearly doubled in value in less than 12 months. Politicians and financiers believe they’ve found the magic cure for the banking system’s plague of bad loans. The scheme — called “Project Hercules” — involves a complicated mix of securitization and state …read more […]
(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.French pharma giant Sanofi agreed to buy Synthorx Inc. for $2.5 billion, more than double the U.S. biotech company’s last market price, accelerating its push into the field of cancer under new Chief Executive Officer Paul Hudson.Sanofi will pay $68 a share in cash for Synthorx, the companies said Monday. Shares of the unprofitable San Diego-based company closed at $25.03 Friday, having surged 40% last week.The deal underscores the Paris-based drugmaker’s efforts to build its portfolio of innovative therapies in the fast-growing …read more […]
China said on Monday that it hoped to make a trade deal with the United States as soon as possible, amid intense discussions before fresh U.S. tariffs on Chinese imports are due to kick in at the end of the week. Beijing hopes it can reach a trade agreement with the United States that satisfies both sides, Assistant Commerce Minister Ren Hongbin told reporters on Monday. China and the United States are negotiating a so-called “phase one” deal aimed at de-escalating their prolonged trade dispute, but it is unclear whether such an agreement can be reached in the …read more […]
Asian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong U.S. jobs data, although regional gains were capped by concerns about China’s economic slowdown due to the prolonged Sino-U.S. trade war.
Asian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong U.S. jobs data, although regional gains were capped by concerns about China’s economic slowdown due to the prolonged Sino-U.S. trade war. Japan’s benchmark Nikkei added 0.33% while MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.27%. …read more […]
(Bloomberg Opinion) — Soccer’s global body FIFA is looking for money and commercial acumen. The private equity industry thinks it might be a solution. Like Chelsea’s Frank Lampard and Liverpool’s Steven Gerrard when they used to play together for England, it’s not obvious the pair are made for each other.FIFA’s strategic goal is to take the beautiful game to new audiences in new regions. That process is already well underway without the organization’s help. Chinese clubs are bidding absurd prices for Western stars, and soccer has an established foothold in the U.S. Meanwhile, India is emerging as the hot new …read more […]
France’s Sanofi said on Monday it had agreed to buy Synthorx in a cash deal worth around $2.5 billion as it seeks to beef up its immuno-oncology pipeline. Under the terms of the merger agreement, Sanofi has offered to buy all of the outstanding shares of Synthorx common stock for $68 per share in cash. “This acquisition …is aligned with our goal to build our oncology franchise with potentially practice-changing medicines and novel combinations,” Sanofi CEO Paul Hudson said in a statement. …read more […]
France’s Sanofi said on Monday it had agreed to buy Synthorx in a cash deal worth around $2.5 billion as it seeks to beef up its immuno-oncology pipeline.
Asian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong U.S. jobs data although regional gains were capped by concerns about China’s economic slowdown due to the prolonged Sino-U.S. trade war.
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