European Corporate Roundup for Monday
02 July 2018 - 11:33PM
Dow Jones News
Nestle is in talks to acquire a majority stake in Canada's
Champion Petfoods for more than $2 billion, according to people
familiar with the matter, as the consumer-food giant boosts
investment in higher-growth businesses to help offset its
struggling packaged-foods operations.
Nestle shares were last up 0.2%.
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Adamis Pharmaceuticals agreed to sell the U.S. commercial rights
for Symjepi, an epinephrine injector for the emergency treatment of
allergic reactions, to Sandoz, a Novartis subsidiary.
Novartis shares are down 1.8%
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AstraZeneca said its Lynparza and Imfinzi cancer drugs have been
approved in Japan.
The Anglo-Swedish pharmaceutical major said Lynparza--developed
together with Merck & Co.--was approved for the treatment of
metastatic breast cancer with a mutated BRCA gene, while Imfinzi
was approved for non-small cell lung cancer that can't be removed
through surgery
AstraZeneca stock is 0.9% lower.
---
Shares in Meggitt rose after the aerospace-components
manufacturer upgraded its revenue guidance for the full year
following a stronger-than-expected performance in the second
quarter, with good growth across the group's segments.
Meggitt shares are up 4.5%.
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Tesco and Carrefour, two of the world's biggest grocery chains,
have struck a deal to collaborate on how they source from suppliers
in an effort to cut prices amid mounting competition from
Amazon.com and other rivals.
Tesco stock is up 0.4% while Carrefour shares trade 0.4%
lower.
---
Thyssenkrupp said its board has approved a joint venture with
Tata Steel that paves the way for the creation of Europe's
second-largest steelmaker.
The German company expects annual recurring synergies of between
EUR400 million and EUR500 million, it said, with the potential for
additional synergies through better asset utilization.
Thyssenkrupp stock is down 1%.
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(END) Dow Jones Newswires
July 02, 2018 09:18 ET (13:18 GMT)
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