- Apple Inc CEO Tim Cook gives up performance bonus, takes home $4.25 mn as salary in 2013Apple Inc opens door to China Mobile subscribers, iPhone sales expected to reach 12 mnApple Inc's China moment still frustratingly out of reach after weak iPhone salesFirst annual profit drop in 14 years spurs China Mobile spending on 4G
Merck will buy the biotechnology company Idenix Pharmaceuticals for $3.85 billion in an effort to bolster its arsenal of potential drugs in the hotly competitive hepatitis C area, the companies announced on Monday. Merck will pay $24.50 in cash for each share of Idenix, an eye-popping 3.4 times Idenix’s closing price of $7.23 a share on Friday. Merck is considered one of the more viable potential competitors and is hoping to bring a combination of two of its hepatitis C drugs to market in the next year or two.
Analog Devices to buy Hittite for $2.4 billion
Semiconductor maker Analog Devices says it agreed to buy Hittite Microwave for $78 per share in cash in a deal worth about $2.4 billion. Analog says Hittite's circuit making technology complements Analog Devices and help it expand into industrial, communications infrastructure, and automotive markets. The price is a 29% premium to Hittite's closing price Friday of $60.56. Analog Devices expects the deal to close in Q3. The company also reaffirmed guidance for Q3 of 60 to 64 cents per share. Analysts expect 63 cents per share.
China Mobile set to buy stake in Thailand’s True
State-owned China Mobile is set to buy an 18% stake in Thailand telecoms group True via a private placement, valued at around $581 million based on the current market price, as part of the Thai group plan to secure a foreign partner, sources familiar with the matter said. True, backed by billionaire Dhanin Chearavanont’s Charoen Pokphand Group, also plans to offer new shares via a rights issue on the basis of seven new shares for 10 existing shares, one of the sources said.
McDonald’s comparable May sales up, but US falls
McDonald's reported better-than-expected global sales at established restaurants in May, helped by strong demand in China,
but sales in the US continued to fall. McDonald's, which has not reported a gain in US comparable -store sales since October, said sales in the US fell 1% in May. Analysts polled by Consensus Metrix had expected sales to rise 0.1%. The US accounted for 31% of McDonald's revenue in 2013. The company does not break out sales for China. The fast-food giant has been struggling in its home market, where sluggish job and wage growth are constraining spending.
Russia to delay plans to privatise firms again
Russia is putting off the planned privatisation of three companies this year, a government minister was quoted