Fresenius to acquire US drug maker Fresenius says it will buy U.S. generic drug maker APP Pharmaceuticals for $3.7 billion in a deal that will give the German company more opportunities in North America. The companies said in a statement released yesterday that Fresenius will pay $23 in cash for each share of APP Pharmaceuticals, along with a registered and tradable contingent value right that could result in as much as $6 a share.
FRANKFURT - The Associated Press
Japan shares rebound at last
Japan shares rebounded yesterday from a 12-session slide, with the key stock index snapping its longest losing streak in more than a half-century. The benchmark Nikkei 225 Stock Average rose 122.15 points, or 0.9 percent, to 13,360. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 1.15 percent to 1,312.80.
TOKYO - The Associated Press
CNOOC aims to buy Awilco Offshore
China National Offshore Oil Corp.'s oil-services firm says it plans to offer about $2.5 billion for Norway's Awilco Offshore. CNOOC's China Oilfield Services said in a statement yesterday that the cash bid represents an 18.7 percent premium over the closing price of the Awilco's stock on Friday. Shares of China Oilfield were suspended from trading yesterday.
HONG KONG - The Associated Press
Hellenic Telecom Fined 3 mln euros
Hellenic Telecommunications Organization, Greece's biggest telephone company, was fined 3 million euros ($4.7 million) by the country's regulator for failing to respond to requests for information. Hellenic Telecom was fined 2 million euros for failing to provide information to the watchdog in relation to its conn-x high-speed Internet product and 1 million euros for not providing information on time for another product.
ATHENS - Bloomberg
Oil drops below $144 as tension eases
Oil dropped below $144 a barrel yesterday in Asia, as hopes that tensions over Iran's nuclear program could ease continued to undermine last week's record prices. Iran on Friday gave an undisclosed response to an international offer of incentives if it suspends uranium enrichment. Midday in Singapore, light, sweet crude for July delivery fell $1.57 at $143.72 a barrel in electronic trade on the New York Mercantile Exchange.
KUALA LUMPUR - The Associated Press
Daimler unveils plans for truck plant
German auto group Daimler has chosen Chennai, southern India, as the site for a new truck plant, it said yesterday. Construction of the factory in India's fourth-largest city is to begin in the near future, with production of 70,000 vehicles per year foreseen starting in 2010, a statement said. Daimler operates in India via a joint venture formed recently with the Hero Group.
FRANKFURT - Agence France-Presse