The BSE Sensex rose more than 17 percent in 2010, to be among the best-performing major Asian markets this year. Most investors expecting the rally to continue.
Drugstore chain CVS Caremark agreed to buy Universal American’s Medicare prescription drug business for about $1.25 billion, doubling the size of CVS Caremark’s business that provides prescription drug coverage under the U.S. government’s Medicare Part D program.
Nunavut Iron Ore sweetened its hostile bid for control of Baffinland Iron Mines, extending a battle with steel giant ArcelorMittal for a vast iron ore deposit in the Canadian Arctic.
Dai-ichi Life Insurance Co will take full control of Tower Australia Group Ltd for $1.2 billion in cash, the latest in overseas acquisitions by Japanese insurers keen to move away from a stagnant home market.
A spokesman for Taiwan’s Hon Hai said he had not heard about a deal reported by the Nikkei newspaper that would see the manufacturer of Apple’s iPhone and iPad become the world’s top-ranked maker of small and medium sized LCDs in a majority stake, $1.2 billion buy of a Hitachi display unit.
News and views on the asset management industry from Reuters and elsewhere: