Deals coverage from Reuters.

Business News15 hours ago

Dropbox Inc. co-founder Drew Houston speaks in front of co-founder Arash Ferdowsi celebrate as Dropbox (DBX) is listed for the company's initial public offering (IPO) at the Nasdaq Market Site in New York, U.S., March 23, 2018.  REUTERS/Lucas Jackson

Dropbox Inc's shares closed at $28.42, up more than 35 percent in their first day of trading on Friday, as investors rushed to buy into the biggest technology initial public offering in more than a year even as the wider sector languished.

Business News15 hours ago

FILE PHOTO: The Pfizer logo is seen at their world headquarters in New York, U.S., April 28, 2014.  REUTERS/Andrew Kelly/File Photo

GlaxoSmithKline <GSK.L> has quit the race to buy Pfizer's <PFE.N> consumer healthcare business, endangering an auction the U.S. drugmaker hoped would bring in as much as $20 billion.

Business News16 hours ago

FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo

Qualcomm Inc <QCOM.O> re-elected its board of directors on Friday with weak support from shareholders, who grilled the U.S. chipmaker over its strategy following its successful defense against a $117-billion hostile bid from Broadcom Ltd <AVGO.O>.

Technology News21 hours ago

FILE PHOTO: Headphones are seen in front of a logo of online music streaming service Spotify,  February 18, 2014 REUTERS/Christian Hartmann/File Photo

Streaming music leader Spotify Technology SA on Tuesday filed for a direct listing of its shares.

Deals20 hours ago

A logo of Siemens is pictured on a building in Mexico City, Mexico, May 16, 2017. REUTERS/Edgard Garrido

Siemens <SIEGn.DE> said board member Roland Busch would become chairman of Siemens Alstom, a joint venture rail company created last year to better compete with the international advance of Chinese conglomerates.

Dealsa day ago

FILE PHOTO: Branding is seen outside the headquarters of GKN in Redditch, Britain, March 12, 2018. REUTERS/Hannah McKay/File Photo

GKN <GKN.L> shareholder Elliott Advisors said on Friday it backed a 7.8 billion pound ($11.05 billion) bid by Melrose for the British engineer, as the clock ticks down to next week's deadline for investors to decide on the hostile takeover.

Business Newsa day ago

Steve Wynn, Chairman and CEO of Wynn Resorts, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2017. REUTERS/Mike Blake

Steve Wynn, the former chief executive of Wynn Resorts Ltd, has disposed his entire 11.8 percent stake in the firm for $2.1 billion in a dramatic exit of the casino and hotel enterprise he founded over 16 years ago.

Business Newsa day ago

FILE PHOTO: The Twenty-First Century Fox Studios flag flies over the company building in Los Angeles, California U.S. on November 6, 2017.   REUTERS/Lucy Nicholson/File Photo

Rupert Murdoch's Twenty-First Century Fox has changed the group of banks lined up to help finance its proposed takeover of European pay-TV company Sky, replacing Bank of America with Citibank.

Business Newsa day ago

FILE PHOTO: Shopping carts are seen at a Target store in Azusa, California U.S. November 16, 2017. REUTERS/Lucy Nicholson

There is no truth to a report of merger talks between retailers Target Corp <TGT.N> and Kroger Co <KR.N>, a source familiar with the matter told Reuters on Friday.

Deals17 hours ago

FILE PHOTO - The logo of Stada Arzneimittel AG is pictured at their headquarters in Bad Vilbel near Frankfurt, Germany, August 24, 2017.  REUTERS/Ralph Orlowski

German pharmaceutical company Stada <STAGn.DE> said on Friday it had applied to switch its listing of shares to the General Standard market segment from the Prime Standard segment on the Frankfurt exchange, a step that would reduce its reporting requirements.

Deals19 hours ago

Italian infrastructure group Atlantia <ATL.MI> said on Friday it had decided to exercise an option to buy all or part of the shares in Spanish telecoms masts group Cellnex owned by Abertis <ABE.MC> for between 21.20-21.50 euros per share.

Deals19 hours ago

Private equity firms including CVC Capital Partners are eyeing bids for Daisy Group in an auction that could value the British telecoms business at about 1 billion pounds ($1.41 billion), banking sources told Reuters.

Deals20 hours ago

Oil-to-telecoms conglomerate Reliance Industries <RELI.NS> is buying a stake in Indian music streaming service Saavn and will merge it with its JioMusic app to create a new entity it said would be valued at $1 billion.

Dealsa day ago

U.S. television and broadband company Liberty Global <LBTYA.O> has scrapped a $876 million preliminary deal to buy Polish peer Multimedia Polska, the companies said on Friday.

Dealsa day ago

Italian dairy group Parmalat <PLT.MI> is ready to grab new M&A opportunities around the world to strengthen its presence in overseas markets where it already operates, Chief Executive Jean-Marc Bernier said on Friday.

Dealsa day ago

FILE PHOTO: A logo is seen on the roof of the ArcelorMittal steelworks headquarters in Ostrava, Czech Republic, April 1, 2016. REUTERS/David W Cerny/File Photo

ArcelorMittal, the world's largest steelmaker, said on Friday it was investing 75 million Bosnian marka ($47 million) to overhaul a blast furnace at its steel plant in Bosnia to extend its lifespan and improve environmental standards.

Dealsa day ago

FILE PHOTO: A man walks past a Banco Santander branch in downtown Rio de Janeiro, Brazil January 29, 2018. REUTERS/Ricardo Moraes

Spain's Banco Santander <SAN.MC> told shareholders on Friday they would receive increased dividends this year, but executives at the annual general meeting were heckled by former investors in a lender it took over last year.

Business Newsa day ago

FILE PHOTO: A Tencent sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song//File Photo

Tencent Holdings Ltd's <0700.HK> shares fell more than 4 percent on Friday, wiping out around $23 billion of market value, after the Chinese internet firm's largest shareholder, Naspers Ltd <NPNJn.J>, lowered its stake for the first time in 17 years.

Dealsa day ago

FILE PHOTO: Entrepreneur and founder of the Museum of Russian Impressionism Boris Mints talks to media in Moscow, Russia, May 26, 2016.    REUTERS/Maxim Zmeyev

Russian businessman Boris Mints wants to sell the country's third-largest pension fund, Budushchee, after two banks in its portfolio were bailed out, potentially triggering up to $370 million in losses, five people familiar with the matter said.

Dealsa day ago

Bira beer bottles are pictured at a liquor store in Mumbai, India March 23, 2018. REUTERS/Francis Mascarenhas

The maker of Bira 91, a popular Indian craft beer with bottles sporting sketches of a quirky monkey with a punk hairdo, is aiming to list itself in the next three to five years, its chief executive told Reuters.

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