Japan’s Nippon Steel and Sumitomo Metal plan to merge to create the world’s second-largest steelmaker in an effort to fend off tough competition from Asian rivals and offset shrinking demand from domestic automakers.
Sanofi-Aventis could announce a deal to buy Genzyme early next week if final negotiations between the companies go smoothly, Le Figaro reported.
The quote of the day goes to Infineon’s CEO explaining why the chipmaker is not at risk of a hostile takeover. “We are more of a shark and the others are the goldfish,” he told reporters.
Nomura is evolving into a global investment bank, even if it doesn’t yet look like one, writes columnist John Foley.