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Stock Market & Financial Investment News

News Breaks
February 11, 2014
05:37 EDTLRLCY, NSRGY, SNYNestle, L'Oréal boards unanimously approve sale of 48.5M shares
Nestlé (NSRGY) and L'Oréal (LRLCY) announced that their respective boards, in meetings held on February 10, have approved by unanimous decision of their voting members a strategic transaction for both companies under which L'Oréal will buy 48.5M of its own shares from Nestlé. This buyback will be financed: Partially through the disposal by L'Oréal to Nestlé of its 50% stake in Swiss dermatology pharmaceuticals company Galderma, a 50/50 joint venture between L'Oréal and Nestlé, for an enterprise value of EUR 3.1B, EUR 2.6B of equity value, paid by Nestlé in 21.2M L'Oréal shares. For the remainder, corresponding to 27.3M L'Oréal shares held by Nestlé, in cash for an amount of EUR 3.4B. All the shares bought back by L'Oréal will be cancelled. Following the transaction, Nestlé's stake in L'Oréal will be reduced from 29.4% to 23.29% of the share capital and the Bettencourt Meyers family's stake in L'Oréal will increase from 30.6% to 33.31%. In order to reflect the change of Nestlé's stake in L'Oréal's governance, the number of Nestlé representatives on L'Oréal's board will be adjusted from 3 to 2 Directors, and the ownership ceiling provisions of the shareholders' agreement between Nestlé and the Bettencourt Meyers family will apply to their respective new holdings. The transaction will be accretive by more than 5% on L'Oréal's recurring earnings per share on a full year basis. The buyback will be exclusively financed with L'Oréal's available cash and through the issuance of commercial paper. It will not require the disposal of Sanofi (SNY) shares held by L'Oréal. The transaction is expected to close before the end of the first semester of 2014.
News For NSRGY;LRLCY;SNY From The Last 14 Days
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July 1, 2015
10:00 EDTLRLCYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Underperform from Outperform at Exane BNP Paribas... Baxter (BAX) downgraded to Neutral from Outperform at Credit Suisse... Carter's (CRI) downgraded to Buy from Conviction Buy at Goldman... Fiat Chrysler (FCAU) downgraded to Neutral from Outperform at Exane BNP Paribas... H&E Equipment (HEES) downgraded to Sector Weight from Overweight at KeyBanc... L'Oreal (LRLCY) downgraded to Sell from Neutral at Citi... Marchex (MCHX) downgraded to Equal Weight from Overweight at Stephens... NASDAQ (NDAQ) downgraded to Market Perform from Outperform at Keefe Bruyette... Starbucks (SBUX) downgraded to Buy from Conviction Buy at Goldman... Towers Watson (TW) downgraded to Hold from Buy at Deutsche Bank... Tuesday Morning (TUES) downgraded to Accumulate from Buy at Johnson Rice... United Rentals (URI) downgraded to Sector Weight from Overweight at KeyBanc.
05:31 EDTLRLCYL'Oreal downgraded to Sell from Neutral at Citi
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June 28, 2015
16:28 EDTNSRGYNestle U.S. head says company can turn around frozen food sales, Reuters reports
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June 26, 2015
13:00 EDTNSRGYNestle CEO sees emerging market middle class supporting growth, FT says
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June 25, 2015
14:03 EDTSNYSanofi initiated with a Buy at HSBC
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10:00 EDTLRLCYOn The Fly: Analyst Downgrade Summary
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06:05 EDTLRLCYL'Oreal downgraded to Neutral from Overweight at JPMorgan
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June 24, 2015
19:43 EDTNSRGYNestle CEO says must 'reconnect with consumers' after noodle ban, AFP reports
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June 23, 2015
13:10 EDTNSRGYNestle appoints Takeda’s Roger as CFO, effective July 1
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