Sanofi $20bn Genzyme bid nears finale

first_img EXECUTIVES at Sanofi-Aventis and Genzyme were last closing in on a takeover deal worth nearly $20bn (£12.4bn), ending months of speculation surrounding a potential agreement.Under the slated agreement, Sanofi is expected to pay around $74 per share for the US biotech company, valuing it at $19.2bn. The figure is a five-cent-per-share increase on the approach made by Sanofi chief Chris Viehbacher in August last year, which was rejected outright by Genzyme boss Henri Termeer.The deal would also incorporate a contingent value right (CVR), which could add a tradable value of up to $5 to $6 a share for the acquired shareholders, dependent on the performance of Genzyme’s experimental new multiple sclerosis drug Lemtrada. Though sources close to the deal said that the terms of the takeover had already been agreed, a final announcement could be delayed until later this week, but is likely to come ahead of Sanofi’s annual results on Wednesday.Analysts say the CVR is a sensible way to offset doubts over Genzyme’s future performance, despite the US company projecting peak annual sales of $3.5bn.“They are not paying upfront for a lot of uncertainty – that’s important,” said Helvea analyst Karl-Heinz Koch. “At $74 plus a CVR, the deal terms would be within reason…The earnings leverage to Sanofi is substantial.”The merger talk surrounding Genzyme has boosted the company’s share price in recent months, with its stock closing at $73.40 on Friday, a 47 per cent increase on July last year, when its share price struggled to top $50. While Sanofi’s initial $18.5bn proposal was deemed “opportunistic” by Termeer, the last couple of weeks have seen intensive two-way discussions between the companies’ boards, with the revised bid running slightly above Genzyme’s market cap and the CVR adding value for its shareholders.Sanofi sought advice during negotiations from JP Morgan, Evercore Partners and Morgan Stanley, with Genzyme turning to Credit Suisse and Goldman Sachs. Sanofi’s acquisition of Genzyme, which specialises in developing so-called orphan drugs for rare diseases, comes at a time when the pharmaceutical industry as a whole is being forced to diversify to remain relevant. The French pharmaceutical giant relies on its pipeline of prescription and over-the-counter drugs, which are dependent on patents to avoid competition from generics. But rights on its blood-clotting duo Plavix and Lovenox will expire in 2012, with rival Teva announcing in late January that the US Food and Drug Administration is poised to approve its Lovenox generic.The UK pharmaceutical industry also took a hit last week when Pfizer confirmed plans to shift its R&D operations to the US after more than 50 years. Chief executive Ian Read signalled this was part of a “fundamental change in culture” as the company moves to offset losses expected when its blockbuster cholesterol pill Lipitor faces generic competition for the first time in June. KCS-content Sanofi $20bn Genzyme bid nears finale More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Sunday 6 February 2011 10:42 pm Tags: NULL Show Comments ▼ whatsapp Share whatsapplast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_imgCHIP FIRM GAINS SIZABLE INFUSION A Silicon Valley start-up has raised one of the biggest funding rounds in years in the semiconductor industry, a sector that many venture-capital firms have been avoiding. The $108m infusion in Tabula is also notable because Tabula is targeting a market niche that has attracted a number of other entrants that subsequently went out of business. The company spent nearly eight years perfecting a technology for programmable chips. BRITAIN SET FOR “BROLLY AND SUNBLOCK” SUMMERBritain faces a “brolly and sunblock” summer with June thunderstorms threatening Wimbledon and Glastonbury, followed by a mixed July and scorching August in time for the school holidays. As the clocks went forward and British summer time started, weathermen predicted this summer will see worse weather than the last two years.THE WALL STREET JOURNALSANTANDER, CCB TO TARGET SMALLER CHINA TOWNSSpain’s Banco Santander SA will take a 19.9 per cent stake in a joint venture with China Construction Bank Corp. to provide banking services outside of China’s major cities, an area of increasing interest to foreign financial institutions looking to make a mark in China. KCS-content TULLOW LOOKS TO RAISE GHANA OIL STAKEIreland’s Tullow Oil is seeking to increase its stake in Ghana’s offshore Jubilee field through the $300m acquisition of shares controlled by allies of John Kufuor, the former president, industry officials in London and Ghana said. Tullow’s bid is higher than offers made by other mostly Ghanaian groups.THE TIMESNEW INVESTOR SAVOURS TASTE OF WESTBURY’S ROBUST RESULTSIntermediate Capital Group has acquired 20 per cent of Westbury Street Holdings, Britain’s fourth-biggest caterer. The purchase by the FTSE 250 listed investment firm comes soon after it took stakes in Courtepaille, the French restaurant chain, and Quorn, the meat-free food group. whatsapp Share Monday 28 March 2011 1:03 am FINANCIAL TIMESHOLLYWOOD MAKEOVER FOR YOUTUBEGoogle is deepening its ties with Hollywood by enlisting top stars to supply original content for YouTube in a bid to boost profits and user engagement at the company’s online video site. Google has been making the rounds of Hollywood’s biggest talent agencies, outlining plans to create a network of channels based around specific themes or niches, such as fashion, food and video games. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today YOU’VE GONE TOO FAR, TOO FAST, POWER CHIEFS TELL CHANCELLORThe introduction of a carbon tax in the Budget to penalise coal-fired power stations that emit greenhouse gases threatens to accelerate the closure of generating plant, potentially creating a serious energy supply gap in the middle of the decade. The electricity generating industry has warned the Treasury that it has gone too far, too fast.The Daily TelegraphJOHN LEWIS INTRODUCES THE “NEVER ENDING REFUND” TO ENCOURAGE SHOPPERS IN AUSTERE TIMESThe days of buying a new dress that you shove in the back of the wardrobe and never wear are over after John Lewis announced it is scrapping its 28 day return limit for a “never ending refund”. The retailer is the first major high street name to scrap the refund limit. L&G SET FOR REAL ESTATE LENDING DRIVELegal & General, the UK’s fourth largest insurer, is gearing up for a push into lending money to the UK commercial real estate market to help fill the debt gap left by retreating banks. The insurer has appointed Ashley Goldblatt, who has worked in the company’s fixed income team, to prepare a strategy to invest into debt in the property market, which has been hamstrung since the credit crisis by the lack of available bank finance. Show Comments ▼ ODDBINS SEEKS ADMINISTRATIONOddbins, the wine retailer, has applied to go into administration to protect itself from creditors’ claims. The move, which the company described as “purely precautionary”, was enacted at the end of last week after one creditor issued a winding-up order. WHAT THE OTHER PAPERS SAY THIS MORNING Tags: NULLlast_img read more

Norsk Tipping introduces latest responsible gaming feature

first_img Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Norsk Tipping introduces latest responsible gaming feature Subscribe to the iGaming newsletter 3rd July 2019 | By contenteditor Regions: Europe Nordics Norway Tags: Mobile Online Gambling Slot Machines Topics: Casino & games Legal & compliance People Sports betting Bingo Slots Bingo Norwegian state-owned gambling operator Norsk Tipping has again tightened its responsible gambling controls, with players now shown an overview of their playing habits when they log into their online accounts.The operator noted that this summary of gambling activity has been available in players’ accounts for several years, but until now players have had to visit it themselves.“Now we are going to actively show the customer their net consumption for the last seven, 30 and 365 days,” the operator’s responsible gaming advisor Tanja Sveen explained. “We believe this can increase awareness of spending habits.”The decision to introduce “active viewing” of gambling history was taken in part as a result of conversations with customers that had lost significant amounts of money gambling.Sveen said that when contacted about their gambling, these players are asked to estimate how much they have lost in the past year.“[It] is common for them to guess only half of their actual loss,” she explained. “Many have an ‘aha moment’ when they discover the actual sum, then want to change their behaviour.”She also noted that in 2018 Norsk Tipping saw the number of at-risk customers increase to 10,000, up from 6,000 in the prior year.“[This] growth comes mainly from customers who play casino games online,” Sveen said. “Showing the customers their account overview is therefore particularly important for such high-risk games, where a game round only takes three seconds. One can play almost continuously, and it is often the case that many small gains camouflage significant losses.”The account overviews will initially be shown automatically once a week, but customers can change the frequency to have it shown either daily or monthly. The summary is also linked to a full breakdown of customer spending.The feature will initially be introduced for Norsk Tipping’s online channels, for customers playing medium- to high-risk games such as casino, bingo or sports betting, and those considered at-risk or problem gamblers.Sveen said that the operator was also working on developing a similar system for land-based channels, with a view to having the same functionality live towards the end of 2019, or early in 2020.The measures is the third new responsible gambling feature to be rolled out by Norsk Tipping in 2019. In April it introduced a new limit on players gambling with winnings over NOK20,000 (£1,856/€2,068/$2,334), noting that after a big win customers were likely to gamble larger amounts.
This was followed by the launch of two-factor verification for its Multix and Belago gaming terminals in May.“The work on gaming responsibility is a continuous process, and we put a lot of resources into maintaining a rapid roll-out of new features,” Norks Tipping chief executive Åsne Havnelid said. “This latest measure will be important for many players and have a good preventative effect on problem gambling.“Transparency is an important principle for Norsk Tipping’s relationship with the company’s customers,” Havnelid added. “Games should be a pleasant addition to everyday life – and how much money customers use to [play them] should not be a secret.” Norwegian state-owned gambling operator Norsk Tipping has again tightened its responsible gambling controls, with players now shown an overview of their playing habits when they log into their online accounts.last_img read more

Monopoly Megaways by Big Time Gaming

first_img Email Address Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter What Chance this happened sooner or later? The World’s most popular board game meets (arguably) online casino’s most popular reel mechanic.Monopoly Megaways has a slick land-based feel and will appeal to a broad demographic due to its engaging mechanics. The game features reactions, free spins and Big Time Gaming’s unique Reel Adventure, giving the player the feel of the board game with the excitement of a modern slot!Monopoly Free Spins features a collection mechanic that rewards the player with higher multipliers and more spins as MR MONOPOLY moves around the board!As more reactions that move MR MONOPOLY, the more the multiplier goes up and the so does the potential!You can play the demo to this, and other BTG slots, here! and if you are looking to review this game for your affiliate site, you can download the affiliate pack with all the info and creative from First Look Games here! 10th December 2019 | By Aaron Noy What Chance this happened sooner or later? The World’s most popular board game meets (arguably) online casino’s most popular reel mechanic. Topics: Casino & games Slots Monopoly Megaways by Big Time Gaminglast_img read more

Bamburi Cement Limited (BAMB.ke) 2002 Annual Report

first_imgBamburi Cement Limited (BAMB.ke) listed on the Nairobi Securities Exchange under the Building & Associated sector has released it’s 2002 annual report.For more information about Bamburi Cement Limited (BAMB.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Bamburi Cement Limited (BAMB.ke) company page on AfricanFinancials.Document: Bamburi Cement Limited (BAMB.ke)  2002 annual report.Company ProfileBamburi Cement Limited manufactures and sells cement and cement products for the building sector in Kenya and Uganda. The company exports its products to Reunion, Uganda and Mayotle. Brands in its retail range include Powermax, Powercrete, Nguvu, Supaset, Multipurpose, Powerplus and Roadcem. Pre-cast concrete paving blocks sell under the BamburiBlox name. The company also supplies precast molded cement products used for drainage, edge constraints, fencing and walling and ready-mix cement. Bamburi Cement Limited offers its service to rehabilitate quarries and owns and maintains a nature and environmental park developed from a rehabilitated quarry. The company was founded in 1951 and has its head office in Nairobi, Kenya. Bamburi Cement Limited is a subsidiary of Lafarge Holcim Limited (SA). Bamburi Cement Limited is listed on the Nairobi Securities Exchangelast_img read more

Unilever Ghana Limited (UNIL.gh) HY2012 Interim Report

first_imgUnilever Ghana Limited (UNIL.gh) listed on the Ghana Stock Exchange under the Industrial holding sector has released it’s 2012 interim results for the half year.For more information about Unilever Ghana Limited (UNIL.gh) reports, abridged reports, interim earnings results and earnings presentations, visit the Unilever Ghana Limited (UNIL.gh) company page on AfricanFinancials.Document: Unilever Ghana Limited (UNIL.gh)  2012 interim results for the half year.Company ProfileUnilever Ghana Limited manufactures and markets fast-moving consumer goods which includes food, home and personal care products. Its food range includes margarine, spreads, beverages, soups, bouillons, sauces, snacks, mayonnaise, salad dressing and olive oil and ice-cream and frozen foods. Beverages include tea, weight management products and nutritionally-enhanced staples. Its home care range includes laundry and household care products. Its personal care range includes skin cleansing, skin care, oral care and deodorant products. The company provides products for professional chefs and caterers through its global division, Unilever Foodsolutions. Unilever Ghana Limited also has interests in investment management and real estate development in Ghana. The company is a subsidiary of Unilever PLC and its head office is in Tema, Ghana. Unilever Ghana Limited is listed on the Ghana Stock Exchangelast_img read more

Chobe Holdings Limited (CHOBE.bw) HY2012 Interim Report

first_imgChobe Holdings Limited (CHOBE.bw) listed on the Botswana Stock Exchange under the Tourism sector has released it’s 2012 interim results for the half year.For more information about Chobe Holdings Limited (CHOBE.bw) reports, abridged reports, interim earnings results and earnings presentations, visit the Chobe Holdings Limited (CHOBE.bw) company page on AfricanFinancials.Document: Chobe Holdings Limited (CHOBE.bw)  2012 interim results for the half year.Company ProfileChobe Holdings Limited owns and operates eleven eco-tourism lodges and camps on leased land in Northern Botswana and the Caprivi Strip in Namibia through its subsidiaries. The holding company operates under two well-known hospitality brands; Desert & Delta Safaris and Ker & Downey Botswana. The eco-tourism group has a combined capacity of 314 beds, and provides added services for its guests such as transfers and private safari tours and game viewing. Safari Air is a wholly-owned subsidiary of Chobe Holdings Limited which provides an air charter service to transport guests to and from its safari camps and lodges. The company also has interests in agricultural operations, property rental and a reservation service.last_img read more

Unity Bank Plc (UNITYB.ng) HY2014 Interim Report

first_imgUnity Bank Plc (UNITYB.ng) listed on the Nigerian Stock Exchange under the Banking sector has released it’s 2014 interim results for the half year.For more information about Unity Bank Plc (UNITYB.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Unity Bank Plc (UNITYB.ng) company page on AfricanFinancials.Document: Unity Bank Plc (UNITYB.ng)  2014 interim results for the half year.Company ProfileUnity Bank Plc is a financial services institution in Nigeria offering banking products and services for the retail, commercial and corporate sectors. The company provides a full-service offering ranging from transactional accounts, deposit accounts and overdrafts to trade finance, treasury services, acceptance and guarantee commercial papers, money market services and international banking services. Unity Bank Plc provides foreign operations which includes home remittance services, mortgages, letters of credit, third party transfer services, invisible transactions, bills for collections and domiciliary transfers. The company supports the agricultural sector through agric products and schemes which includes Unity farmer’s cooperatives finance and leasing, Unity industrial input scheme and general agro-allied farmer’s schemes. Founded in 1987, Unity Bank Plc now operates through an extensive network of some 240 branches in 36 states in Nigeria and the Federal Capital Territory. Its head office is in Lagos, Nigeria. Unity Bank Plc is listed on the Nigerian Stock Exchangelast_img read more

Ecobank Transnational Incorporation (ETI.gh) HY2018 Interim Report

first_imgEcobank Transnational Incorporation (ETI.gh) listed on the Ghana Stock Exchange under the Banking sector has released it’s 2018 interim results for the half year.For more information about Ecobank Transnational Incorporation (ETI.gh) reports, abridged reports, interim earnings results and earnings presentations, visit the Ecobank Transnational Incorporation (ETI.gh) company page on AfricanFinancials.Document: Ecobank Transnational Incorporation (ETI.gh)  2018 interim results for the half year.Company ProfileEcobank Transnational Incorporation is a financial services institution offering retail, wholesale, investment and transactional banking services to government departments, financial institutions, multi-nationals, small- to medium-size enterprises, micro businesses and individuals in Africa and internationally. The banking group operates in the domestic, corporate and investment banking segments. Ecobank Transnational Incorporated offers a full-service product offering which ranges from current and savings accounts to business accounts and term deposits. Ecobank Transnational Incorporated also provides services for institutional banking; ranging from treasury and investment banking to commodity/trade finance, debt issuance and equity offerings, mergers and acquisitions and syndicated lending. The financial institution operates a network of approximately 1 200 branches and offices in the major towns and cities of Ghana. Its head office is in Lomé, Togo. Ecobank Transnational Incorporation is listed on the Ghana Stock Exchangelast_img read more

Could its Asian focus boost the Prudential share price?

first_img Image source: Getty Images. Could its Asian focus boost the Prudential share price? But with a 20% increase in the Prudential share price over the past year, the City seems to like Prudential’s Asian focus. If it continues to deliver, I think it could further boost the share price. My portfolio is heavily weighted towards UK stocks. I like the fact that Prudential is a UK stock but it offers me global exposure. I would consider adding it to my portfolio. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Christopher Ruane Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. Get the full details on this £5 stock now – while your report is free. From its 19th century foundation, Prudential (LSE: PRU) has been firmly rooted in the UK. But these days the Prudential share price is more likely to be affected by what’s happening in Ho Chi Minh City than in Holborn. Here’s why.Prudential has reshaped itselfOver the past few years, Prudential has been transforming radically. It demerged its UK investment business M&G. It plans to demerge its American Jackson business this year.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Meanwhile, the Pru has been refocussing its attention onto developing markets. Specifically it hopes to grow in Asia and Africa. But it is in Asia that Prudential has a stronger historical footprint. That is where its growth agenda has most obviously boosted the company’s top line so far.Asian performance is strongI think the results from the Asian push have been encouraging. Sales in Asia and Africa increased 14% in the first quarter compared to the prior year. New business profits were up 21%. Part of the Prudential strategy is to use digital channels as a way to attract new business. Its ‘Pulse’ app has been downloaded 24m times. This seems like a cost-effective way for the company to sign up new customers.Prudential is where the growth isWhat I find compelling about the Prudential strategy is that it is squarely focussed on where it sees growth potential. At its investor day this month, the company highlighted the potential of its Asian strategy. It also shared some promising results that could help boost the Prudential share price if they continue. In India, for example, post-tax profit has grown at a compound annual rate of 31% over the past five years. Such strong growth would be very hard to achieve in mature markets such as the UK and US.Why did Prudential do well in 19th century Britain? The industrial revolution meant that an increased labouring class wanted to take out life insurance in case they were injured or killed at work. That reassured them that their families wouldn’t be left destitute. The same dynamic is at play now in industrialising, urbanising markets such as Indonesia and Vietnam. Prudential has positioned itself to ride that wave of growing demand.Prudential share price risksI like the Prudential Asian focus. But developing markets are sometimes known as ‘frontier markets’. Like many frontiers, the situation on the ground can change fast and risks abound.Asia is a big continent with significant regional variations. A business model that works in a sophisticated economy like Hong Kong might fail in an emerging market such as Vietnam. There is also a competitive risk from specialised local insurers who understand the characteristics of their own market better than Prudential. Local competitors could defend their business by entering into a price war, which could hurt Prudential’s profitability. A focus on digital channels also exposes the company to risks such as network failure or information loss. Enter Your Email Address Christopher Ruane has no position in any of the shares mentioned. The Motley Fool UK has recommended Prudential. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. FREE REPORT: Why this £5 stock could be set to surge Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Christopher Ruane | Friday, 18th June, 2021 | More on: PRU last_img read more