ADRs End Higher; Anheuser-Busch InBev Rises
September 16 2015 - 7:02PM
Dow Jones News
International stocks trading in New York closed higher on
Wednesday.
Anheuser-Busch InBev NV (BUD, ABI.BT) was among the companies
with ADRs that traded actively.
The BNY Mellon index of American depositary receipts rose 1.96%
to 132.34. The European index increased 1.66% to 133.54, the Asian
index improved 2.43% to 136.60, the Latin American index rose 3.03%
to 172.16 and the emerging markets index increased 3.03% to
219.49.
Anheuser-Busch InBev said Wednesday that it had approached
SABMiller PLC (SBMRY, SAB.LN, SAB.JO) about a takeover, paving the
way for a possible deal to create a brewing giant that would
dominate much of the global beer market. ADRs of AB InBev--the
world's largest brewer by sales--rose 6.8% to $115.43. ADRs of
SABMiller, which aren't included in the index, climbed 21% to
$56.45.
West African gold producer Randgold Resources Ltd. (GOLD,
RRS.LN) said it has partnered with South Africa-based AngloGold
Ashanti Ltd. (AU, ANG.JO) to create a joint venture to rehabilitate
the latter's Obuasi gold mine in Ghana. Under the agreement,
Randgold will lead a plan to rebuild Obuasi into a viable mining
business. No financial terms were disclosed. Randgold's ADRs rose
5.7% to $58.73 and AngloGold Ashanti's ADRs rose 5.4% to $7.95.
Syngenta AG (SYT, SYNN.VX) moved to further placate investors
upset by the pesticide maker's resistance to Monsanto Co.'s
takeover overtures by announcing a pipeline of new products with
sales potential of more than $6 billion. Syngenta's ADRs rose 1.2%
to $70.23.
The U.K.'s antitrust authority said Wednesday it was considering
scrutinizing the proposed acquisition of Spanish telecommunications
giant Telefonica SA's (TEF, TEF.MC) U.K. mobile operator O2 by
Asian conglomerate CK Hutchison Holdings Ltd., owner of one of the
U.K.'s smallest mobile-network operators, Three. The acquisition
would more than triple Three's U.K. subscribers to 34 million and
create the country's biggest mobile operator. Telefonica's ADRs
rose 1.1% to $13.16.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 16, 2015 18:47 ET (22:47 GMT)
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