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Apr 11, 2014

Scania posts strong Q1, but VW won’t boost buyout bid

STOCKHOLM, April 11 (Reuters) – Germany’s Volkswagen said on
Friday it would not raise an offer to minority shareholders in
Scania after the truckmaker posted strong earnings, hitting the
Swedish firm’s shares as the deadline for acceptance of the
buyout nears.

VW bid 200 Swedish crowns ($30.6) per share to
buy what it does not own of Scania, an offer rejected by Scania
board members without direct links to the German auto giant and
which most small shareholders have yet to commit to.

Apr 10, 2014

H&M calls for faster factory inspections in Bangladesh

STOCKHOLM (Reuters) – Hennes & Mauritz (H&M) (HMb.ST: Quote, Profile, Research, Stock Buzz), the world’s second-biggest fashion retailer, said on Thursday Bangladesh needed to speed up inspections of its garment industry, almost a year after the collapse of a factory that killed more than 1,100 people.

The disaster at the Rana Plaza complex a year ago prompted the Swedish budget fashion chain and other Western brands to pledge to cooperate to improve working conditions.

Apr 7, 2014

Sweden’s Kinnevik names ex-Goldman banker Grabau as CEO

STOCKHOLM, April 7 (Reuters) – Swedish investment firm
Kinnevik said on Monday it had picked board member
and former Goldman Sachs banker Lorenzo Grabau as chief
executive, as the company deepens its push into technology and
e-commerce.

Founded in 1936, Kinnevik is one of the largest listed
investment companies in Europe, having transformed itself from
an industrial concern into a telecoms and media group and in
recent years expanded into online services.

Apr 4, 2014

Swedish drugmaker Meda spurns Mylan takeover approach

STOCKHOLM (Reuters) – Sweden’s Meda AB said on Friday it had rejected a takeover approach by U.S. generic drugmaker Mylan Inc, scuppering a potential deal to create a combined company worth around $24 billion.

Meda said it had been contacted about an indicative proposal to combine the two businesses but its board had decided to reject the proposal.

Apr 4, 2014

Shares in Swedish drugmaker Meda halted on Mylan bid talk

STOCKHOLM, April 4 (Reuters) – Shares in drug maker Meda AB
were halted on Friday following a media report that
Mylan Inc is looking to acquire its smaller Swedish
rival in a move that would create a $23 billion company.

Meda’s chairman confirmed to Swedish news agency Direkt on
Friday that the company had had initial contact with Mylan and
said it would make an announcement later in the day on Friday.

Apr 4, 2014

gm//UPDATE 2-Shares in Swedish drugmaker Meda halted on Mylan bid talk

STOCKHOLM, April 4 (Reuters) – Shares in drug maker Meda AB
were halted on Friday following a media report that
Mylan Inc is looking to acquire its smaller Swedish
rival in a move that would create a $23 billion company.

Meda’s chairman confirmed to Swedish news agency Direkt on
Friday that the company had had initial contact with Mylan and
said it would make an announcement later in the day on Friday.

Mar 27, 2014

H&M misses profit forecast as fashion battle heats up

STOCKHOLM (Reuters) – Hennes & Mauritz (HMb.ST: Quote, Profile, Research, Stock Buzz), the world’s No.2 fashion retailer, missed first-quarter profit forecasts as it invested to catch up with rivals online in an increasingly competitive budget clothing market.

The weaker-than-expected performance contrasts with solid results last week from bigger rival Inditex (ITX.MC: Quote, Profile, Research, Stock Buzz), which is benefiting from rapid growth in Internet sales as well as its stronger presence than H&M in emerging markets.

Mar 26, 2014

Handelsbanken under fire on shift in industry shareholdings

STOCKHOLM, March 26 (Reuters) – A move by Handelsbanken
to change the level of its shareholdings in several
Swedish companies to allow board members to also remain
directors at other companies was criticised by shareholders and
local media on Wednesday.

A new EU banking industry directive called CRD IV which is
due to be implemented in Sweden in July limits the number of
other board positions a director at systemically important
financial institutions can hold to three.

Mar 23, 2014

Insight – With Nordic clean-up done, Cevian prepares new broom for Germany

STOCKHOLM (Reuters) – Such is the weight of Christer Gardell’s voice in Europe that Volvo’s share price jumped 4 percent one day in January when a Swedish business daily ran a front-page story on the activist investor calling on the truckmaker to “start delivering”.

Gardell, once called a capitalist “butcher” by Swedish media, has emerged more than a decade after co-founding Cevian Capital – now a $12 billion (7 billion pounds) activist fund – as Europe’s biggest activist investor and one of its most influential.

Mar 23, 2014

With Nordic clean-up done, Cevian prepares new broom for Germany

STOCKHOLM (Reuters) – Such is the weight of Christer Gardell’s voice in Europe that Volvo’s share price jumped 4 percent one day in January when a Swedish business daily ran a front-page story on the activist investor calling on the truckmaker to “start delivering”.

Gardell, once called a capitalist “butcher” by Swedish media, has emerged more than a decade after co-founding Cevian Capital – now a $12 billion activist fund – as Europe’s biggest activist investor and one of its most influential.

    • About Mia

      "Mia Shanley is an American journalist based in Stockholm who covers the financial markets and economies of Sweden and Iceland. She was previously employed for five years with Reuters in Singapore and has also spent time working and studying in Taipei and London."
      Joined Reuters:
      2001
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