UNITEDHEALTH TO BUY CATAMARAN FOR $12.8 BILLION IN CASH
UnitedHealth Group Inc.'s deal to acquire Catamaran Corp. for
about $12.8 billion in cash will bulk up its pharmacy-benefit
business amid growing concern from employers and insurers about the
rising costs of cutting-edge drugs. (published 2210 GMT Monday)
CHINA RONGSHENG 2014 NET LOSS CNY7.75 BILLION
China Rongsheng Heavy Industries Group Holdings Ltd. posted a
2014 net loss of 7.75 billion yuan as the troubled shipbuilder
struggles with higher expenses and cancellation of orders.
(published 0027 GMT)
ANGANG STEEL SEES SIGNIFICANT DECLINE IN FIRST-QUARTER NET PROFIT
Angang Steel Co. warned investors Tuesday that its first-quarter
net profit is expected to be significantly lower than that of the
previous year as steel prices fall amid the nation's economic
slowdown. (published 2356 GMT Monday)
SEC FILES FRAUD CHARGES AGAINST LYNN TILTON, PATRIARCH PARTNERS -- 5TH UPDATE
Flashy financier Lynn Tilton and her Patriarch Partners LLC are
facing allegations that they defrauded investors by hiding the true
value of loans in some funds managed by the private-equity firm.
(published 2319 GMT Monday)
BLACKSTONE TO BUY THREE HOTELS FROM PAULSON CONSORTIUM FOR $1.2 BILLION -- UPDATE
Blackstone Group LP has agreed to pay more than $1.2 billion to
a consortium led by Paulson & Co. for three large hotels in
Orlando, Fla., and Scottsdale, Ariz., according to people familiar
with the matter. (published 2154 GMT Monday)
CHINESE FOOD GIANT EXPLORES DEALS IN U.S.
Chinese food company Cofco Corp. is on a determined shopping
spree. (published 2105 GMT Monday)
CHINA COMMUNICATIONS CONSTRUCTION PLANS TO SPIN OFF DREDGING BUSINESS
China Communications Construction Co. is considering a spin-off
and listing of its dredging business outside China. (published 0006
GMT)
BREITBURN'S BONDHOLDERS CHEER NEWS OF EIG'S $1 BILLION INFUSION
In what seemed to be a somewhat counter-intuitive move,
Breitburn Energy Partners' senior notes traded higher today after
the announcement of a $1 billion debt and preferred equity infusion
from EIG Global Energy Partners, despite the fact that EIG's new
loans put the private equity firm ahead of other senior note
holders. (published 2243 GMT Monday)
SWISS BANK BSI TO PAY $211 MILLION PENALTY IN U.S. TAX CASE -- UPDATE
The U.S. Justice Department said on Monday that BSI SA is the
first Swiss bank to successfully navigate a self-reporting program
for hidden American accounts. (published 2020 GMT Monday)
AMAZON HIRES PILOT-UNION EXECUTIVE FOR DRONE PROGRAM
In the latest sign of the importance of its drone program,
Amazon.com Inc. has hired the former number-two executive at the
Air Line Pilots Association to help with the project. (published
0034 GMT)
MOSAIC EXPECTS SHARP INCREASE IN POTASH TAX PAYMENTS
Fertilizer company Mosaic Co. said Saskatchewan's accelerated
taxes on producers of potash, a key ingredient, will increase the
company's 2015 potash production tax payments by $80 million to
$100 million on a pretax basis. (published 2204 GMT Monday)
TREASURY WINE TO BOOK A$50M WRITEDOWN, CUT JOBS
Treasury Wine Estates Ltd. said Tuesday it would book 50 million
Australian dollars in writedowns and cut an unspecified number of
jobs after idling wineries and production facilities in the U.S.
and Australia. (published 2200 GMT Monday)
AMGEN LOSES ANOTHER ROUND IN ITS BATTLE TO FEND OFF A BIOSIMILAR RIVAL
For the second time this month, Amgen has lost a battle over its
effort to block a biosimilar version of its Neupogen drug, a $5.7
billion seller that is used to fend off infections during
chemotherapy. This time, the FDA denied a citizen's petition the
biotech filed arguing that Sandoz, which plans to sell a
biosimilar, violated federal law by failing to provide it with
needed information by a specified deadline. (published 2057 GMT
Monday)
DH CORP TO BUY FUNDTECH FOR $1.25 BILLION
Canada's DH Corp. said Monday it has agreed to acquire New
York-based Fundtech, which provides payments and transaction
banking software, for $1.25 billion in cash. (published 2048 GMT
Monday)
FONTERRA HIRES ERNST & YOUNG PARTNER AS INTERIM CIO
Fonterra Co-Operative Group Ltd. has hired as interim CIO Simon
Paparone, a former Ernst & Young Global Ltd. partner. Mr.
Paparone assumes the role from Carl Moore, who resigned earlier
this month after working less than two years as the New Zealand
dairy company's CIO. (published 2022 GMT Monday)