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December 11, 2019
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Reuters - Business

Saudi Aramco will exercise 15% greenshoe option in whole or part during first 30 days of trading: statement

Reuters
FILE PHOTO: A sign of Saudi Aramco’s initial public offering (IPO) is seen during a news conference by the state oil company at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File Photo RIYADH (Reuters) – Saudi Aramco will exercise its 15% greenshoe option in...
Reuters - Business

France’s Sanofi to buy biotech firm Synthorx for $2.5 billion

Reuters
PARIS (Reuters) – Sanofi (SASY.PA) said on Monday it had agreed to buy California-headquartered biotechnology firm Synthorx in a cash deal worth about $2.5 billion aimed at beefing up the French drugmaker’s pipeline of drugs for cancer and auto-immune disorders. FILE PHOTO: The logo of Sanofi is seen at the...
Reuters - Business

Proxy adviser ISS opposes plan by Hudson’s Bay chairman to take firm private

Reuters
(Reuters) – Institutional Shareholder Services said on Friday it recommends shareholders vote against a plan by the chairman of Hudson’s Bay Co (HBC.TO) to take the Saks Fifth Avenue owner private after the bid was topped by an offer from Catalyst Capital Group Inc. FILE PHOTO: U.S. flags fly outside...
Reuters - Business

Britain’s Phoenix to buy Swiss Re’s ReAssure business for $4.1 billion

Reuters
LONDON/ZURICH (Reuters) – Phoenix Group Holdings (PHNX.L) has agreed to buy the British business of Swiss Re (SRENH.S) for 3.2 billion pounds ($4.1 billion) in cash and shares, the UK insurer’s biggest deal to date, driving the two companies’ shares higher. The logo of Swiss insurer Swiss Re is seen...
Reuters - Business

Phoenix to buy Swiss Re’s ReAssure unit for $4.1 billion

Reuters
The logo of Swiss insurer Swiss Re is seen in front of its headquarters in Zurich, Switzerland, September 23, 2015. REUTERS/Arnd Wiegmann LONDON/ZURICH (Reuters) – Insurance group Phoenix Group Holdings (PHNX.L) on Friday announced its biggest-ever deal, as it agreed to buy the British unit of Swiss Re AG (SRENH.S)...
Reuters - Business

United Airlines picks Scott Kirby to replace Oscar Munoz as CEO

Reuters
(Reuters) – United Airlines Holdings Inc (UAL.O) on Thursday named insider Scott Kirby as its chief executive officer to succeed Oscar Munoz, who will take the role of executive chairman in May 2020. FILE PHOTO: United Airlines president Scott Kirby speaks at O’Hare International Airport in Chicago, Illinois, U.S., June...
Reuters - Business

Google co-founders step aside as Pichai takes helm of parent Alphabet

Reuters
SAN FRANCISCO (Reuters) – Google co-founders Larry Page and Sergey Brin are stepping aside as leaders of the Internet behemoth they founded 21 years ago, ending an extraordinary run that saw them build one of the world’s most valuable and influential companies. Trusted lieutenant Sundar Pichai, who has run the...
Reuters - Business

United States asks UK to extradite ex-Autonomy boss Lynch from UK

Reuters
FILE PHOTO: British entrepreneur Mike Lynch leaves the High Court in London, Britain March 25, 2019. REUTERS/Henry Nicholls LONDON (Reuters) – The United States has formally requested the extradition of Michael Lynch, the British tech billionaire who sold his company to Hewlett Packard (HPE.N) (HP) in an ill-fated $11.1 billion...
Reuters - Business

Buffett’s Berkshire outbid for Tech Data: CNBC

Reuters
(Reuters) – Billionaire investor Warren Buffett was thwarted in trying to spend some of the $128.2 billion of cash at his Berkshire Hathaway Inc, after a private equity firm outbid him to buy technology equipment distributor Tech Data Corp for $5.14 billion, CNBC said on Friday. Berkshire Hathaway Chairman Warren...
Reuters - Business

Exclusive: Brazil, China, UAE firms in second round of bids for Petrobras refineries – sources

Reuters
SAO PAULO (Reuters) – Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) has selected four groups for the second round of bidding for four refineries up for sale, including China’s Sinopec, Abu Dhabi’s state investor and two Brazilian firms, according to four people with knowledge of the matter. FILE PHOTO:...
CBS US News

Black Friday 2019: Here’s what not to buy this Black Friday

CBS News
Black Friday might serve as the traditional kickoff to the holiday shopping season. However, that’s not always when you’ll find the best prices. Experts say waiting until after the shopping bonanza for some purchases might be wise. Here’s a quick look at when you can find the best deals on...
Reuters - Business

Permira, North Face owner among bidders for sneaker brand Golden Goose: sources

Reuters
LONDON/MILAN (Reuters) – U.S. apparel and footwear conglomerate VF Corporation and buyout funds Permira and Advent are lining up indicative offers for Italian shoe brand Golden Goose ahead of a mid December deadline, sources familiar with the matter told Reuters. FILE PHOTO: The logo of the Carlyle Group is displayed...
Reuters - Business

China’s major shareholders sell A-shares, pressuring markets

Reuters
SHANGHAI (Reuters) – Business owners and major shareholders are selling down their stakes in listed companies, producing a glut of shares in a market already under pressure from a slowing economy and the impact of the Sino-U.S. trade dispute. FILE PHOTO: An investor watches a board showing stock information at...
Reuters - Business

Gulf state investors step in to help Aramco hit IPO target: sources

Reuters
DUBAI/ABU DHABI (Reuters) – Saudi Arabia’s wealthy Gulf neighbors plan to invest in the initial public offering (IPO) of Saudi Aramco, sources familiar with the matter said, helping out Riyadh as it strives to raise $25.6 billion from a domestic listing of the state oil giant. FILE PHOTO: The logo...
Reuters - Business

Manchester City owner scores $4.8 billion price tag with stake sale

Reuters
LONDON/PARIS (Reuters) – Manchester City’s Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag. Tech-focused Silver Lake will buy just over 10% of City Football Group (CFG),...
Reuters - Business

Abu Dhabi, Kuwait sovereign funds plan investment in Aramco IPO: sources

Reuters
DUBAI/ABU DHABI (Reuters) – The sovereign wealth funds of Abu Dhabi and Kuwait plan to invest in the initial public offering (IPO) of Saudi Aramco, which is relying mainly on Saudi and Gulf investors to raise up to $25.6 billion, sources familiar with the matter said. FILE PHOTO: The logo...
Reuters - Business

Abu Dhabi sovereign fund weighs investment of at least $1 billion in Aramco IPO: sources

Reuters
FILE PHOTO: The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File Photo DUBAI/ABU DHABI (Reuters) – Abu Dhabi Investment Authority (ADIA) is weighing an investment...
Reuters - Business

Manchester City owner scores $4.8 billion price tag with stake sale

Reuters
PARIS/LONDON (Reuters) – Manchester City’s Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag. FILE PHOTO: Soccer Football – Premier League – Brighton & Hove Albion v...
Reuters - Business

Private equity firm Silver Lake makes $500 million investment in Manchester City owner

Reuters
PARIS (Reuters) – Private equity firm Silver Lake has agreed to make a $500 million equity investment into the owners of English soccer champions Manchester City, valuing the Premier League club’s owner at $4.8 billion. Silver Lake will buy just over 10% of Abu Dhabi-controlled City Football Group (CFG), which...
Reuters - Business

Manchester City owner to sell $500 million stake valuing itself at $4.8 billion: Financial Times

Reuters
FILE PHOTO: Soccer Football – Champions League – Group Stage – Group F – Olympique Lyonnais v Manchester City – Groupama Stadium, Lyon, France – November 27, 2018 General view of the Manchester City emblem before the match Action Images via Reuters/John Sibley (Reuters) – The owner of English Premier...

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