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Judge sets Aetna-Humana antitrust trial date for December 5

Wednesday August 10 th 2016

Washington DC The U.S. District Court judge hearing the U.S. Justice Department’s case to block Aetna Inc.’s (AET.N) $34 billion purchase of Humana Inc. (HUM.N) has set a trial date for Dec. 5, 2016, later than the companies had requested.Aetna and Humana are fighting the U.S. Department of Justice’s lawsuit asserting that combining the two companies will harm consumers and raise prices. Continue reading

EFG International cuts expected purchase price for BSI to $1.08 billion

LONDON Swiss private bank EFG International (EFGN.S) said on Wednesday it expects to pay 1.05 billion Swiss francs ($1.08 billion) to buy rival BSI from Grupo BTG Pactual SA (BBTG11.SA), almost 300 million francs less than previously announced. The bulk of the price cut relates to legal penalties for BSI over its business ties to a scandal-hit Malaysian government fund and provisions for a net reduction of BSI’s assets since the end of November. Continue reading

AstraZeneca bets another $140 million on Moderna’s ‘messenger’ drugs

LONDON AstraZeneca has invested another $140 million in Moderna Therapeutics, the U.S. biotech “unicorn” which already has a cash pile of around $1 billion and is developing drugs based on a molecule known as messenger RNA.The British drugmaker said on Wednesday that the new investment, part of a preferred-stock financing, lifted its stake in Moderna to 9 percent. AstraZeneca first invested in Moderna in 2013.Messenger RNA (mRNA) carries the recipe for making proteins inside the body. Continue reading

U.S. Steel Canada rejects latest offer from Essar consortium

TORONTO U.S. Steel Canada on Wednesday rejected a buyout offer from Ontario Steel Investment Ltd, a group that includes shareholders of Essar Global, saying it was not considering further proposals by Essar, which had been eliminated from the sale process.The offer, made on Tuesday, included the assumption of C$954 million ($734 million) in liabilities under U.S. Steel Canada’s pension plan and a commitment to provide C$25 million toward post-employment benefits for U.S. Steel Canada’s staff.U. Continue reading

Peppa Pig-owner Entertainment One rejects ITV’s 1 billion-pound offer

LONDON Canada’s Entertainment One (ETO.L), the owner of children’s TV cartoon character Peppa Pig, has rejected a 1 billion-pound ($1.3 billion) takeover offer from UK broadcaster ITV (ITV.L), saying it undervalued the London-listed TV and film production and distribution company.”The board of eOne has reviewed the proposal and has unanimously rejected it on the basis that it fundamentally undervalues the company and its prospects,” it said. Continue reading