Category Archives: Deals

ArcelorMittal says U.S. buy wont impact $15 billion debt target

BRUSSELS — ArcelorMittal’s (ISPA.AS) acquisition of a U.S. plant jointly with Nippon Steel & Sumitomo Metal Corp (5401.T) will not affect the world No. 1 steelmaker’s debt targets, ArcelorMittal’s chief executive said on Sunday.

ArcelorMittal unveiled the $1.55 billion takeover of ThyssenKrupp’s (TKAG.DE) U.S. steel finishing plant in Calvert, Alabama, on Friday, saying it would finance the deal via equity and debt at the joint venture level.

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Exclusive: Valeant, Actavis, Mylan eye Pfizers generics unit

Exclusive: Valeant, Actavis, Mylan eye Pfizers generics unit

NEW YORK — Drugmakers Valeant Pharmaceuticals International Inc (VRX.TO), Actavis Plc (ACT.N) and Mylan Inc (MYL.O) have all expressed interest in buying Pfizer Inc’s (PFE.N) branded generics business, but no active discussions are going on at this time, according to three people close to the matter.

The «established products» unit, which makes off-patent drugs, had global sales of $7 billion in the first nine months of 2013, accounting for 18 percent of Pfizer’s revenue. Read more »

Germanys Continental to buy U.S. firm Veyance for $1.9 billion

Germanys Continental to buy U.S. firm Veyance for $1.9 billion

BERLIN — German tire and car parts maker Continental (CONG.DE) has agreed to buy U.S. private equity investor Carlyle Group’s (CG.O) Veyance Technologies, which once belonged to its rival Goodyear (GT.O), for 1.4 billion euros ($1.9 billion).

Veyance, which employs 9,000 workers at 27 plants worldwide producing industrial hoses and belting, will be integrated into the German company’s Contitech division, Continental said.

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Lion Air to cancel order for five Boeing 787s

Lion Air to cancel order for five Boeing 787s

BATAM, Indonesia/OSLO — Indonesian budget airline Lion Air said on Monday it planned to cancel an order for five Boeing Co (BA.N) 787 Dreamliner aircraft and replace them with smaller 737 models.

Lion Air first announced the order, worth $1 billion at list prices, in mid-2012 for its premium subsidiary Batik Air.

Lion Air is one of the world’s fastest growing airlines and has placed major orders with both Boeing and Airbus (AIR.PA) for smaller narrowbody planes as it projects fast growth in air travel demand in Indonesia’s populous archipelago.

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