18.04.2012

Nestle Near Deal for Pfizer's Baby Formula Unit

Pfizer is near a deal to sell its baby formula business to Swiss food giant Nestle for at least $9 billion, the Wall Street Journal reported on Tuesday. more22.11.2011

India's Piramal to Boost Financial Business

Diversified Indian conglomerate Piramal Group plans to lend up to $193 million to real estate projects in the current fiscal year to March as it focuses on building its newly launched financial arm, its chairman said. The group also aims to set up a team by the end of March to look for opportunities to fund large projects such as power and road construction, sectors in which the government is hoping to rope in private-sector participation in a big way. more17.08.2011

Abbott to Invest $230 Million in Chinese Facility

Abbott Laboratories announced that it will invest $230 million to build a state-of-the-art nutrition manufacturing facility in Jiaxing, China. The facility will manufacture premium powdered milk products for Chinese infants and children. The plant, when operational in 2013, will employ approximately 300 people. more21.07.2011

Abbott Laboratories Q2 Profit Surges 50%

Abbott Laboratories reported Wednesday a profit for the second quarter that surged 50% from last year, boosted largely by a significant tax benefit and sales growth. This was partially offset by higher operating costs, mainly for research and development. more10.05.2011

Solvay Sees Higher 2011 Profit As Q1 Tops Forecast

Belgian chemicals group Solvay reported a 79% jump in first-quarter operating profit, beating estimates thanks to improved demand and price hikes, and forecast higher full-year 2011 earnings. "In the context of the globally favorable business climate and based on its strategy of sustainable and profitable growth, Solvay expects to improve its annual operating result, both in chemicals and plastics activities in 2011," it said. more07.04.2011

Solvay To Launch Formal Offer For Rhodia On July 4

Belgian chemicals group Solvay said on Thursday it will formally launch its agreed €3.4 billion ($4.9 billion) bid for French group Rhodia on July 4, subject to regulatory approvals. Solvay gave an indicative timetable in its offer document, published on Thursday, saying the offer period would end on Aug. 19 with the result announced on Sept. 1. more04.04.2011

Solvay Looks to Emerging Markets In $4.8 Billion Rhodia Buy

Cash-rich Belgian chemicals group Solvay is betting on emerging markets exposure and specialty chemicals with a €3.4 billion ($4.8 billion) cash bid for French group Rhodia. Monday's deal ends Solvay's year-long search for a takeover after it sold its drugs unit to its U.S. partner Abbott Laboratories in September 2009 for 4.5 billion. The offer of €31.60 per share for Rhodia, which has been recommended by Rhodia's board of directors, means Solvay will still have cash left over from its drugs unit sale. more03.09.2010

Abbott Ends Auction of Vaccines Business-Company

Drugmaker Abbott Laboratories has decided against the sale of its European flu-vaccine business after initial bids came in below its expectations, a company spokeswoman confirmed. The auction had drawn interest from four or five bidders, but the offers came in at less than €500 million euros ($640 million) and proved too low for the company's liking, a person familiar with the matter told the newspaper. more