DealZone

Deals wrap: Takeda offers $12 billion for rival Nycomed

May 12, 2011

Takeda Pharmaceutical is in talks to buy privately-held Swiss rival Nycomed for more than $12 billion, said sources with direct knowledge of the matter. Japan’s largest drugmaker is seeking to boost its presence in Europe and emerging markets, as well, the acquisition would help them gain a lung disease drug from Nycomed which has just been approved in the U.S. Japanese drugmakers have been actively pursuing acquisitions to boost growth as they face the loss of patent protection on key medicines.

A planned rescue deal involving Saab and China’s Hawtai Motor Group collapsed after it failed to get necessary approvals, leaving Saab’s owner, Spyker, chasing new funding alternatives to restart production at the Swedish automaker. Spyker said it was continuing talks with Hawtai, while a Reuters exclusive reported the Dutch sportscar-maker was also talking to another Chinese company, Great Wall Motor about a possible tie-up.

Glencore’s CEO Ivan Glasenberg said recent falls in commodity prices were due to “froth” in the market and had not affected strong demand for the company’s IPO. Commodity price volatility in the past week has prompted worries over Glencore’s planned $11 billion IPO, with fund managers sensing an opportunity to drive down prices. The commodities giant recently unveiled the prospectus for their IPO, detailing plans to raise funds in a dual listing in London and Hong Kong.

Hedge fund manager Raj Rajaratnam was found guilty on all 14 counts of insider trading, and could face at least 15 years in prison. The Galleon founder was at the center of the biggest insider trading investigation in decades and the use of phone taps in his conviction may have marked a turning point in prosecution of Wall Street crimes. This piece in the New York Times by Peter Lattman and Azam Ahmed takes a look inside Rajaratnam’s circle of friends and business associates, and how they played a crucial role in his scheme.

 

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