FRANKFURT (Reuters) – Syngenta (SYNN.VX: Quote, Profile, Research, Stock Buzz) management faced pressure on Thursday to offer tangible rewards to shareholders after the Swiss pesticides company turned its back on a deal with unwanted American suitor Monsanto (MON.N: Quote, Profile, Research, Stock Buzz).
With no alternative bidder seen on the horizon, analysts speculated that the company could buy back shares as a short-term measure to help win back investor confidence.
FRANKFURT, Aug 6 (Reuters) – Germany specialty chemicals
group Lanxess lifted its full-year earnings outlook
for the second time and said it would split its synthetic rubber
business off into a separate legal entity while it continues to
look for a strategic partner.
It now expects adjusted earnings before interest, taxes,
depreciation and amortisation (EBITDA) of 840-880 million euros
($917-961 million) this year, compared with a previous target
range of 820-860 million euros.
FRANKFURT (Reuters) – Germany’s Merck KGaA (MRCG.DE: Quote, Profile, Research) reported second-quarter adjusted core earnings above expectations on Thursday as the benefits of acquiring high-tech chemicals maker AZ Electronic Materials outweighed a drop in revenue from its best-selling drug.
Merck’s quarterly adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 6 percent to 899 million euros (628 million pounds), above the 887 million euros expected on average by analysts.
FRANKFURT (Reuters) – German healthcare group Fresenius SE (FREG.DE: Quote, Profile, Research, Stock Buzz) on Wednesday lifted its full-year earnings target for the second time as its rivals in the U.S. generic infusion drug market struggled with longer-than-expected production outages.
Fresenius now expects adjusted group net income growth of 18-21 percent, excluding currency swings, driven by its generic infusion drugs and tube feeding equipment unit Kabi, which is also getting a boost from new product launches.
FRANKFURT (Reuters) – German drugmaker Bayer (BAYGn.DE: Quote, Profile, Research, Stock Buzz) saw underlying core earnings increase by one third in the second quarter, helped by a gain in prescriptions of new drugs such a stroke prevention pill Xarelto and lower raw material costs at its plastics division.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 2.90 billion euros ($3.21 billion), above market expectations of 2.68 billion, while revenue gained 18 percent to 12.09 billion, also beating the analyst consensus.
FRANKFURT (Reuters) – Syngenta (SYNN.VX: Quote, Profile, Research, Stock Buzz) has said a $2 billion break-up fee that unwanted U.S. suitor Monsanto (MON.N: Quote, Profile, Research, Stock Buzz) has pledged to pay if its proposed $45 billion merger failed would only apply in limited cases, leaving its shareholders exposed to the bulk of regulatory risks.
Swiss Syngenta, the world’s largest maker of farming pesticides, told Reuters that based on its legal interpretation of Monsanto’s proposal, the payment would only be triggered if so-called horizontal antitrust concerns were to trip up the deal. Monsanto has rejected this interpretation.
FRANKFURT, July 24 (Reuters) – BASF, the world’s
largest chemicals firm by sales, posted 2 percent higher
operating profit for the second quarter on Friday, as demand for
specialty plastics for the automotive and construction industry
outweighed lower oil and gas earnings.
The group’s earnings before interest and tax (EBIT),
adjusted for one-off items, rose to 2.04 billion euros ($2.24
billion) in the quarter to June, below the average estimate of
2.12 billion euros in a Reuters poll
ZURICH (Reuters) – Syngenta (SYNN.VX: Quote, Profile, Research, Stock Buzz) and unwanted suitor Monsanto (MON.N: Quote, Profile, Research, Stock Buzz) squabbled over an earnings report from the Swiss pesticides maker on Thursday, with both sides claiming it strengthened their case in a $45 billion takeover battle.
Monsanto wants to combine its world-leading seeds business with Syngenta’s own seeds and pesticides. Syngenta has rejected the proposal and refused to open its books, despite the offer of a $2 billion cash payment should the transaction fail to win regulatory approval.
FRANKFURT, July 22 (Reuters) – German chemicals company BASF
will set up separate legal entities for its pigments
businesses and look into all options, which could include sales,
for operations that have been suffering from industry
The move affects businesses serving the paints, coatings,
printing and plastics industries among others, with sales of
about 1 billion euros ($1.1 billion) in 2014 and 2,500 staff,
BASF said on Wednesday.
ZURICH, July 21 (Reuters) – Actelion, Europe’s
biggest biotech company, raised its full-year outlook despite
posting lower than expected earnings on Tuesday, with the sales
decline in an older lung drug overshadowing growth in a
The Swiss drugmaker has a dominant position in treatments
for pulmonary arterial hypertension, which weakens the heart,
and is banking on its new drug for the condition, Opsumit, to
help to cut the company’s reliance on its original blockbuster
Tracleer, which loses patent protection this year.