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.
Hershey is still working on a bid for Cadbury that would top Kraft’s 10.5 billion pound bid for the British confectioner. As the clock ticks down for rivals to enter the fray, Hershey — the one remaining party to declare its hand — has still not decided if it will table a formal offer, but has authorized the drawing up of a bid. At the same, Kraft has stepped up the charm offensive with Chief Executive Irene Rosenfeld visiting Cadbury shareholders in London. She has found some doors shut, however, indicating that investors find the bid too low.
The pursuit of Cadbury is rapidly becoming a one horse race after Italy’s Ferrero ruled itself out of the fight and cut off talks with potential bid partner Hershey, leaving only the U.S. chocolate maker to declare its hand in the battle for the British confectioner. Cadbury, meanwhile, yesterday put the finishing touches to its defence against U.S. food giant Kraft’s 10.5 billion pound hostile bid by promising an improved performance and a raised dividend.
Cadbury posts its final defence against Kraft’s hostile takeover, but a muted share price reaction shows it is not changing market views about the deal much. Ferrero, the Italian chocolate maker, is “very close” to taking a decision on whether to launch a counterbid together with U.S. group Hershey, a source close to the operation tells Reuters. Italy’s Il Messagero reported earlier Ferrero was securing a $4.5 billion syndicated loan.
Good thing for Saab that shutting down a car business is a lengthy process. There are orders to fill, inventories to clear and various other contracts to conclude. Bidders for Saab know this, so even as the deadlines come and go, signs of life for a deal are going to have plenty of room to grow.
Saab workers are probably reminding themselves it is always darkest just before the dawn, which takes a lot longer to arrive in the Scandinavian winter than anywhere else. With the lights set to start going out at Saab plants, word surfaced that parent General Motors’ Dec. 31 deadline for bids was being extended into early January.