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Hong Kong Finance Has a Security Blanket

May 26, 2020 admin Comments Off on Hong Kong Finance Has a Security Blanket

(Bloomberg Opinion) — China’s decision to impose a national security law on Hong Kong has spurred speculation of capital flight and an erosion of the city’s status as an international financial center. As a venue for share offerings, at least, the near-term future is looking bright. For that, the territory can thank worsening U.S.-China relations.U.S.-listed Chinese technology companies are lining up to sell stock in Hong Kong, seeking refuge from an environment that has become increasingly less hospitable. Nasdaq-traded JD.com Inc. and NetEase Inc. are planning secondary listings in the city next month, following a trail blazed by Alibaba Group …read more […]

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Regeneron To Repurchase $5 Billion Stake From Sanofi

May 25, 2020 admin Comments Off on Regeneron To Repurchase $5 Billion Stake From Sanofi

U.S. biotech company Regeneron Pharmaceuticals, Inc (REGN) said on Monday that it will repurchase $5 billion of common stock held by France’s Sanofi.The biotech firm said that the offering will have no impact on its ongoing collaboration with Sanofi formed in 2003. Regeneron will fund the purchase with a combination of $3.5 billion of cash on hand and $1.5 billion of fully-committed bridge financing from Goldman Sachs Bank USA.“Sanofi and Regeneron’s collaboration has been one of the most productive in the industry, creating significant value for both companies but more importantly, resulting in five important medicines for patients,” said Sanofi …read more […]

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Sanofi to Sell Regeneron Stake Worth About $13 Billion

May 25, 2020 admin Comments Off on Sanofi to Sell Regeneron Stake Worth About $13 Billion

(Bloomberg) — French drug giant Sanofi is selling a stake in Regeneron Pharmaceuticals Inc. valued at about $13 billion.Regeneron has agreed to repurchase $5 billion of its stock from Sanofi, the companies said on Monday. Regeneron said Sanofi also plans to sell approximately 12.8 million shares through a public offering.The announcement is part of Sanofi Chief Executive Officer Paul Hudson’s revamped strategy for the drugmaker. Sanofi announced in December that it would end its hunt for new diabetes and heart disease drugs, helping save more than $2 billion, and focus on fast-growing fields such as cancer.Sanofi currently holds about 23.2 …read more […]

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Boris Johnson’s Aide Says He Behaved Legally During Lockdown

May 25, 2020 admin Comments Off on Boris Johnson’s Aide Says He Behaved Legally During Lockdown

May.25 — Dominic Cummings, one of U.K. Prime Minister Boris Johnson’s closest allies, refused to quit, refuting claims he flouted coronavirus-lockdown rules that he had helped to draft. The main charge against him is that he ignored government guidelines by driving more than 250 miles to his parents’ complex of houses in northeast England in early April to seek childcare support for his four-year-old son. “In this very complex situation I tried to exercise my judgment the best I could,” Cummings, 48, told reporters in the rose garden of Johnson’s Downing Street residence Monday. …read more […]