FRANKFURT/LONDON (Reuters) – Merck, the world’s largest maker of liquid crystals used in TVs, tablet and smartphone screens, has agreed to buy Britain’s AZ Electronic Materials for $2.6 billion to expand its range of specialist chemicals for hi-tech gadgets.
Germany’s family controlled Merck, which also makes cancer drugs and laboratory equipment, will pay 403.5 pence per share in cash for the supplier of chemicals used in Apple’s iPad, a 41 percent premium to AZ’s three-month average share price.
FRANKFURT (Reuters) – Swiss drugmaker Novartis is ready to sell its animal health subsidiary and has opened its books to Bayer and other rivals interested in a business that could change hands for more than 3 billion euros ($4.1 billion), sources familiar with the matter told Reuters.
Germany’s Bayer is seeking to bolster its position as a diversified life sciences company while Novartis Chief Executive Joe Jimenez and Chairman Joerg Reinhardt have said they are considering options for non-core assets that lack the scale to become world leaders.
FRANKFURT, Nov 28 (Reuters) – German chemical industry
workers are to demand a 5.5 percent pay rise when negotiations
open next month, their union said on Thursday, citing improving
Germany’s historically low wage inflation has been viewed by
some euro zone politicians as a problem, blaming it as a source
of imbalances in national economies across the region that
exacerbated the sovereign debt crisis.
FRANKFURT (Reuters) – Shares in the world’s biggest kidney dialysis provider Fresenius Medical Care (FMEG.DE: Quote, Profile, Research, Stock Buzz) rose more than 9 percent on Monday after a U.S. healthcare agency said it would phase in reimbursement cuts rather than introduce them in one hit next year.
Medicare, the U.S. government healthcare program for elderly and disabled people, will spread a 9.4 percent cut, initially proposed to take effect next year, over the next three to four years.
FRANKFURT, Nov 18 (Reuters) – German hospitals chain
Rhoen-Klinikum is in talks to settle a row with
dissident shareholders who have fought a tie-up with diversified
healthcare group Fresenius, two of the companies
involved said on Monday.
Fresenius last year tried to take over Rhoen but failed
after two shareholders weighed in. In September, it agreed to
buy about two thirds of Rhoen’s assets in a deal it said does
not require shareholder approval.
FRANKFURT, Nov 15 (Reuters) – Deutsche Post, the
world’s No.1 postal and logistics company, has asked regulators
to approve an increases in the price of stamps that would raise
the cost of sending a standard letter in its home market to 0.60
euros ($0.81) from 0.58.
The move could raise the group’s pretax profit by around 50
million euros a year, estimated DZ Bank analyst Dirk Schlamp.
DARMSTADT, Germany , Nov 14 (Reuters) – Germany’s Merck KGaA
, the world’s largest maker of liquid crystals for
display screens, raised its full-year outlook as it benefited
from job cuts and continued demand from television
Citing strong non-prescription drugs and chemicals
businesses, Merck said on Thursday that it expects adjusted
earnings before interest, tax, depreciation and amortisation
(EBITDA) of 3.2-3.25 billion euros ($4.3-$4.35 billion) in 2013,
against its previous guidance of 3.1-3.2 billion euros.
FRANKFURT (Reuters) – Bayer (BAYGn.DE: Quote, Profile, Research, Stock Buzz), Germany’s largest drugmaker, tempered its full-year sales outlook on Thursday, saying unfavourable exchange rates were blunting the impact of robust sales of new drugs in the United States, Latin America and Japan.
The inventor of Aspirin and maker of birth-control pill Yasmin said it now forecast full-year sales of about 40 billion euros ($55 billion), against a previous target of 40-41 billion euros, despite reporting better-than-expected quarterly earnings.
FRANKFURT, Oct 31 (Reuters) – German chemicals company
Evonik said the impact on profits from weaker market
in animal feed ingredients and specialty plastics were cushioned
by new technology that allows cheaper propylene oxide
Third-quarter adjusted earnings before interest, taxes,
depreciation and amortisation (EBITDA) fell 26 percent to 518
million euros ($713.3 million), it said on Thursday, beating the
499 million average estimate in a Reuters poll of analysts.
FRANKFURT, Oct 31 (Reuters) – Bayer, Germany’s
largest drugmaker, tempered its full-year sales outlook as weak
overseas currencies reduced the value of sales in the United
States, Latin America and Japan.
The inventor of Aspirin and maker of birth-control pill
Yasmin said full year sales would be about 40 billion euros ($55
billion), where it had previously seen 40-41 billion euros.