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Thursday, May 18, 2017

Lowe's to buy maintenance supplies retailer for $512 million

(Reuters) - U.S. home improvement retailer Lowe's Cos Inc said it would buy Maintenance Supply Headquarters, a wholesale retailer of maintenance supplies, for $512 million, as it seeks to sell more to construction contractors.

GM will cut operations in India, South Africa

DETROIT (Reuters) - General Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets.

Johnson & Johnson offers EU concessions over Actelion deal

BRUSSELS (Reuters) - U.S. healthcare giant Johnson & Johnson has offered concessions in a bid to address EU antitrust concerns over its $30 billion bid for Swiss biotech company Actelion , the European Commission said on Thursday.

Credit Suisse shareholders approve $4.1 billion rights offering

ZURICH (Reuters) - Credit Suisse shareholders on Thursday approved the Swiss bank's plan to sell around 4 billion Swiss francs ($4.1 billion) in new shares to raise funds for a revamp and get its financial strength on a par with rivals.

Japan fund, likely Toshiba chip unit investor, to raise $2.7 billion

TOKYO (Reuters) - A Japanese state-backed fund plans to sell nearly a fifth of shares in chip maker Renesas Electronics Corp - worth $2.7 billion at current prices - bolstering its coffers amid expectations it is planning to invest in Toshiba's chip unit.

EU fines Facebook 110 million euros over WhatsApp deal

BRUSSELS (Reuters) - European Union antitrust regulators fined Facebook 110 million euros ($122 million) on Thursday for giving misleading information during a vetting of its deal to acquire messaging service WhatsApp in 2014.

India's Paytm raises $1.4 billion from SoftBank

MUMBAI (Reuters) - India's Paytm said on Thursday it has raised $1.4 billion from Japan's SoftBank Group in a deal that will help the digital payments startup expand its user base and maintain its lead in Asia's third-largest economy.

EU charges Altice with taking over PT Portugal before deal approved

BRUSSELS (Reuters) - The European Commission accused telecoms and cable group Altice on Thursday of breaching EU rules by taking control of PT Portugal before the deal had been approved by EU regulators.

Second U.S. buyout firm bids for Australia's Fairfax Media

SYDNEY (Reuters) - Australia's oldest newspaper publisher Fairfax Media Ltd on Thursday said it has received a takeover bid worth as much as A$2.87 billion ($2.13 billion) from a second U.S. private equity firm, sending its shares sharply higher.

South Africa's Sibanye Gold finalizes $1 billion rights issue at 60 percent discount

JOHANNESBURG (Reuters) - South Africa's Sibanye Gold will tap shareholders for funds at a discount of 60 percent in a $1 billion rights issue, the mining company said on Thursday.