08292016Mon
Last update: Mon, 29 Aug 2016 05pm

Industries & Sectors

Business & Finance - Industries & Sectors

Sanofi says talked with Medivation, but will be ‘disciplined’ acquirer PARIS: French pharmaceutical group Sanofi reacted to Pfizer's roughly $14 billion cash deal for Medivation Inc by saying it had appreciated the chance to engage in talks with Medivation in past weeks. The company did not explicitly rule out making a higher offer for the US cancer drug company. "While we recognized the potential strategic benefits of a combination with Medivation, we are first and foremost a disciplined acquirer and remain committed to acting in the best interests of Sanofi shareholders," Sanofi said in a statement. Pfizer Inc said on Monday it would buy Medivation in a deal valued at about $14 billion to boost its oncology portfolio. Pfizer will offer Medivation shareholders $81.50 per share in cash, a substantial premium to Sanofi's first offer of $52.50 made in April. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

Pfizer bets $14bn it knows better than market NEW YORK: The drug giant is paying a 120 pct premium for Medivation. It's a good fit and the biotech's cancer blockbuster is a rare gem.The whopping premium suggests Pfizer sees something others missed. But a heated auction and back-of-the-envelope math hint that the buyer is overpaying. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

Mercedes' China H2 sales may slow as new E-Class output raised: Daimler BEIJING: Mercedes-Benz sales in China may slow in the second half of 2016 while the company ramps up production of its new E-Class model, Daimler's China head said on Monday.Hubertus Troska said he does not expect local production of the new E-Class to reach full capacity until the fourth quarter of 2016. He was speaking at a media roundtable in Beijing at the China launch of the new E-Class Long Wheelbase.China sales for Mercedes-Benz were ...

Business & Finance - Industries & Sectors

Sony to launch two versions of PS4 next month Good news for all the Play Station gamers, Sony is set to introduce two versions of its Play Station 4 gaming console very soon. The Japanese tech giant previously announced in June that it would launch an enhanced version of PS4, along with plans to introduce a new PS4 standard model in New York’s press event on September 7, reported The Wall Street Journal. The move comes as the company seeks to attract more users ...

Business & Finance - Industries & Sectors

EON spin-off Uniper plans September flotation FRANKFURT: Executives at Uniper, a spin-off business uniting German energy giant EON's fossil fuel operations, said on Monday the new firm is in good shape for a September stock market debut."We are very close to the goal," chief executive Klaus Schaefer told journalists on a conference call.Uniper expects to publish its prospectus in early September for a mid-month flotation, he said.EON -- Germany's largest energy company -- announced the creation of Uniper two years ago ...

Business & Finance - Industries & Sectors

VW says cuts 28,000 workers' hours over supply woes FRANKFURT: German auto giant Volkswagen said on Monday it would halt production at six plants for several days as a legal dispute with two key suppliers deepened.Around 27,700 workers at factories in Emden, Zwickau, Kassel, Salzgitter, Brunswick, and the firm's home base of Wolfsburg would see their work hours slashed by the end of August, the group said in a statement.VW had been forced to take the drastic measures at the factories that produce some ...

Business & Finance - Industries & Sectors

Nokia to return with Android based smartphone The Finnish smartphone maker Nokia is back, and is all set to regain its lost glory in the global smartphone and tablet market with the release of its Android based smartphone and tablets.Under a licensing agreement between Nokia and Finland based HMD global, the agreement allows HMD to produce and sell Nokia-branded smartphones and tablets for the next decade, and in exchange HMD would give royalty payments covering both brand and intellectual property rights to ...