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Stock Market & Financial Investment News

News Breaks
February 11, 2014
05:37 EDTNSRGY, LRLCY, 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 31, 2014
19:08 EDTSNYSanofi raises stake in Regeneron to 22.5% from 21.6%
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12:06 EDTLRLCYL'Oreal reports 1H operating profit EU 2.03B vs. EU 2.03B last year
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05:56 EDTSNYSanofi reports Q2 business net income up 13% to EUR 1.54B
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July 30, 2014
16:31 EDTSNYRegeneron, Sanofi announce plan to use priority review voucher for alirocumab
Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) announced that the companies intend to use a FDA rare pediatric disease priority review voucher in connection with the Biologics License Application, or BLA, submission for alirocumab. The priority review voucher entitles the holder to designate a BLA for priority review, which provides for an expedited 6-month review from the filing date instead of the standard 10-month review. Regeneron Ireland, an indirect, wholly-owned subsidiary of Regeneron Pharmaceuticals, purchased the voucher from BioMarin GALNS, a direct, wholly-owned subsidiary of BioMarin Pharmaceutical (BMRN), which had received it through the FDA's rare pediatric disease priority review voucher program. Sanofi and Regeneron will equally share the purchase price of $67.5M. Sanofi and Regeneron expect to submit U.S. and EU regulatory submissions for alirocumab before year end.
12:33 EDTSNYRegeneron, Sanofi likely to file alirocumab BLA this year, says Piper Jaffray
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08:08 EDTSNYSanofi and Regeneron report positive Phase 2 results of alirocumab
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July 28, 2014
09:02 EDTSNYSanofi, InnerWorkings sign global marketing partnership
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July 27, 2014
15:12 EDTNSRGY Hospira in talks to acquire Danone medical nutrition business, FT says
French consumer company Danone (DANOY) has been in negotiations to sell its medical nutrition business to Hospira (HSP) in a deal said to value the unit at $5B, says the Financial Times. The deal would also allow for U.S. based Hospira to domicile its tax base in Europe in a tax strategy known as an inversion, added the Financial Times. In prior reports, Nestle (NSRGY) and Fresenius (FMS) have also been mentioned as suitors for the Danone unit. Reference Link
July 21, 2014
07:11 EDTSNYInternational Society of DNA Vaccines to hold a conference
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July 18, 2014
06:41 EDTNSRGYNestle U.S. chocolate goals curbed by Lindt acquisition, Bloomberg says
Nestle, who usually aims to be first or second in all of its divisions, isn’t even close in the U.S. chocolate candy industry, where the Swiss firm is shut-out by Mars and Hershey (HSY), reported Bloomberg. When Lindt & Spruengli finalizes its acquisition of Russell Stover Candies, Nestle will fall even deeper behind, by ranking fourth in the U.S. Reference Link

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