Sherwin-Williams wins U.S. antitrust approval to buy Valspar: FTC
WASHINGTON Paint-maker Sherwin-Williams has won U.S. antitrust approval to buy U.S. rival Valspar Corp , the Federal Trade Commission said on Friday.
MOSCOW The supervisory board of Russian state-run diamond miner Alrosa approved a deal to sell a 51 percent stake in Timir iron ore project in Eastern Siberia to the country's largest steelmaker Evraz (EVRE.L), the company said on Wednesday.
Russia's state development bank VEB will own one share, according to the statement, and obtains a priority option to acquire shares in Timir in the future.
Alrosa bought the rights to develop four deposits of iron ore in the south of Yakutiya region for $173 million in 2008 and united them into the Timir project.
The company valued the project at $10 billion, saying it would require $3 billion in investments at the initial stage.
The decision to attract a partner to develop the deposit was announced last September. Alrosa said earlier it was in talks with Evraz and unidentified foreign firms to join the project.
Evraz said in March that it could invest up to $1.5 billion in Timir in five years.
(Reporting By Alexei Anishchuk and Andrei Kuzmin; Editing by Melissa Akin)
MUNICH German industrial gases group Linde's supervisory board is due to vote on a merger agreement with U.S. peer Praxair on June 1, two people close to the matter told Reuters on Friday.
Soft drink maker PepsiCo Inc is in talks to acquire All Market Inc, the owner of coconut water brand Vita Coco, whose celebrity investors include Madonna and Matthew McConaughey, people familiar with the matter said on Friday.