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Pinnacle Foods stock rockets 10% as activist hedge fund sparks takeover talk

“Pinnacle Foods Inc. shares surged almost 10% Friday, after activist hedge fund Jana Partners LLC said it has amassed a 9.1% stake in the owner of the Birds Eye brand and urged management to consider selling the company” writes Ciara Linnane for marketwatch.com. JP Morgan analysts agreed that Conagra is a leading suitor for Pinnacle but that others might also consider a bid, including Kraft Heinz Co. Source: marketwatch.com Share This:

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Takeda in talks with Shire after $61 billion bid rejected

“Takeda’s rejected bid comprised 17.75 pounds in cash, which would be paid in U.S. dollars, and 28.75 pounds worth of new Takeda shares” writes Midwest Communications Inc for 95kqds.com. LONDON/NEW YORK (Reuters) – Japan’s Takeda Pharmaceutical is in negotiations with Shire after making a third takeover bid worth around $61 billion that was rejected by the London-listed rare diseases drugmaker.Reuters first reported that Takeda had made a cash-and-stock takeover offer of 46.50 pounds a share, prompting Takeda to issue a statement confirming the move. Source: 95kqds.com Share This:

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Qualcomm concessions insufficient to clinch NXP deal: commerce ministry

“Qualcomm refiled an application with the Chinese government on Monday, seeking clearance for its $44 billion takeover of NXP, giving regulators more time to decide on the deal and avert its collapse” writes Midwest Communications Inc for 95kqds.com. BEIJING (Reuters) – U.S. chipmaker Qualcomm will have to do more to complete its proposed takeover of NXP Semiconductors Qualcomm had submitted a remedy plan to resolve competition issues, but an initial investigation found these to be insufficient, said ministry spokesman Gao Feng.”This deal will have significant influence in the industry and…

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F1 motor racing pivots to a new ‘entertainment brand’ following US takeover

“In January 2017, Liberty Media completed its $8 billion takeover of Formula One (including debt), marking the start of a new era after Bernie Ecclestone oversaw the motor sport for 40 years” writes Lucy Handley for cnbc.com. He hired two motor racing veterans as managing directors: Former Ferrari technical director and ex-Mercedes team boss Ross Brawn to be in charge of motor sports and former ESPN executive Sean Bratches for commercial operations.This year marks the first full season in the post-Ecclestone era. Source: cnbc.com Share This:

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Hammerson ditches takeover bid for Intu

“At 0712 GMT, shares in Hammerson were up 2.9% at 508 pence, while shares in Intu were down 6.6% at 194.70 pence” writes Adam Clark for marketwatch.com. Intu added that its board will meet to consider Hammerson’s request that it not convene a shareholder meeting to vote on the proposed deal.Hammerson has notified Intu’s board of the withdrawal of its recommendation, but the deal will still be voted on by its shareholders.Hammerson said earlier on Wednesday that it has withdrawn its recommendation to shareholders to vote in favor of its…

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Shire sells oncology unit for £1.7bn as Takeda boss prepares potential bid

“The oncology unit was an area that Takeda had identified as a driver for its potential takeover approach” writes Li Shufu for telegraph.co.uk. Drugmaker Shire has agreed to sell its oncology business to a French rival, putting into question whether a bid for the FTSE 100 firm from Japanese suitor Takeda will emerge. The UK Takeover Panel gave the Japanese firm a deadline of April 25 to announce a firm intention to bid or walk away. Source: telegraph.co.uk Share This:

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Qualcomm to refile China antitrust application for $44 billion NXP takeover: sources

“It will be the second time Qualcomm would be refiling its antitrust application with Mofcom” writes Midwest Communications Inc for 95kqds.com. BEIJING (Reuters) – U.S. chipmaker Qualcomm will refile as early as Monday an application with the Chinese government to clear its $44 billion takeover of NXP Semiconductors , sources said, giving regulators more time to decide on the deal and averting a collapse.By refiling, Qualcomm will provide the Ministry of Commerce (Mofcom) potentially with another six-month window to review its application. Source: 95kqds.com Share This:

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Buffett’s Berkshire will oppose USG board nominees after Knauf bid

“A USG takeover could add to the $116 billion of cash and equivalents his Omaha, Nebraska-based conglomerate has to invest” writes Midwest Communications Inc for 95kqds.com. (Reuters) – Warren Buffett’s Berkshire Hathaway Inc plans to vote against four board nominees proposed by USG Corp , giving a boost to a $5.9 billion takeover bid by German’s Gebr Knauf AG that the building products company had rejected.Knauf’s takeover bid values USG at $42 per share.Berkshire has owned USG since 2000, the year before asbestos liabilities helped push the Chicago-based company into…

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UK takeover panel rules Disney must offer to buy all of Sky

“Britain’s takeover regulator ruled on Thursday that Walt Disney must make an offer for the whole of European pay-TV company Sky if it succeeds in buying Twenty-First Century Fox assets, including its 39 percent stake in Sky” writes unknown author for cnbc.com. In the meantime, Disney agreed to buy Fox assets, including its stake in Sky, in a separate deal, which is subject to regulatory clearance. Source: cnbc.com Share This:

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