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Daily news and top headlines for manufacturing professionals

Unilever Selling Ragu Brand For $2.15B

May 22, 2014 8:23 am | News | Comments

Unilever PLC says it has agreed to sell ownership of its Ragu and Bertolli brand sauces in North America to Japan's Mizkan Group for $2.15 billion.                     

Another AstraZeneca Shareholder Voices Criticism

May 21, 2014 3:06 pm | News | Comments

Another AstraZeneca shareholder has criticized the pharmaceutical company's handling of Pfizer's $119 billion takeover bid, saying it was "arguably wrong" to reject it quickly.             

Google Eyes Up To $30B In Foreign Buyouts

May 21, 2014 8:15 am | by Michael Liedtke, AP Technology Writer | News | Comments

Pressed to provide more details about its plans for its overseas cash, Google revealed that $20 billion to $30 billion is earmarked for the acquisition of foreign companies and technology rights held outside the U.S.            

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Shareholder Urges AstraZeneca To Rethink Pfizer Bid

May 20, 2014 10:11 am | News | Comments

AstraZeneca shareholder Schroders has urged the pharmaceutical firm to reconsider its rejection of a takeover offer from U.S. drugmaker Pfizer.                  

Cobham Buying Aeroflex For $920M

May 20, 2014 8:44 am | News | Comments

Aeroflex, based in Plainview, New York, makes products and test equipment used by the aerospace, medical and wireless industries. Cobham makes everything from aircraft fuel tanks to antennas.            

AstraZeneca Board Rejects New Pfizer Offer

May 19, 2014 7:40 am | by Gregory Katz and Linda A. Johnson, Associated Press | News | Comments

Pfizer Inc., which is the world's second-biggest drug maker by revenue, has been courting No. 8 AstraZeneca PLC since January, arguing that their businesses are complementary and would be stronger together.        

Abbott Spending $2.9B On CFR Pharmaceuticals

May 16, 2014 8:27 am | News | Comments

Abbott Laboratories says it will spend about $2.9 billion to broaden its reach in Latin America with the acquisition of fellow drugmaker CFR Pharmaceuticals.                

Merck Makes Deal Worth At Least $600M With Santen

May 13, 2014 3:06 pm | News | Comments

Merck & Co. will receive at least $600 million in a deal with Japanese drug maker Santen Pharmaceutical Co. Ltd. for the purchase of Merck eye care products in several markets.            

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Volkswagen To Complete Scania Purchase

May 13, 2014 8:50 am | News | Comments

German automaker Volkswagen AG has enough shares to take complete ownership of Swedish truck-maker Scania and move ahead with integrating its commercial vehicle business.                 

British Lawmakers Press Pfizer For Job Guarantees

May 13, 2014 8:14 am | by Danica Kirka, Associated Press | News | Comments

Lawmakers pressed the chief executive of Pfizer to guarantee jobs should the American company succeed in taking over London-based AstraZeneca, prodding him on whether he could be trusted to honor promises made as part of the bid.    

Qualcomm Managers Charged With Insider Trading

May 13, 2014 7:58 am | News | Comments

Two former Qualcomm Inc. managers were criminally charged with insider trading for allegedly buying shares of a semiconductor maker before Qualcomm announced an agreement to buy the company.           

Allergan Board Rejects Valeant Takeover Offer

May 12, 2014 10:04 am | News | Comments

Botox maker Allergan is rejecting a takeover bid from Valeant Pharmaceuticals, saying that the unsolicited $46 billion offer undervalues the company and carries significant risk.            

Chrysler Reports $690M 1Q Loss

May 12, 2014 9:36 am | News | Comments

Chrysler Group lost $690 million in the first quarter due to charges related to its merger with Italian automaker Fiat SpA.                       

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Hillshire Brands Buys Pinnacle Foods For $4.23B

May 12, 2014 7:55 am | News | Comments

Hillshire Brands is buying Pinnacle Foods, whose brands include Duncan Hines and Aunt Jemima, in a cash-and-stock deal valued at approximately $4.23 billion.                   

Report: Apple Close To Buying Beats For $3.2B

May 9, 2014 8:14 am | by Michael Liedtke, AP Technology Writer | News | Comments

Apple is orchestrating a $3.2 billion acquisition of Beats Electronics, the headphone maker and music streaming distributor founded by hip-hop star Dr. Dre and record producer Jimmy Iovine, according to a published report.             

Mondelez, DE Master Combining Coffee Businesses

May 7, 2014 8:30 am | News | Comments

The deal is part of a $3.5 billion restructuring program underway at Mondelez that is projected to create $1.5 billion in savings by 2018.                                

Snyder's-Lance To Sell Private Brands For $430M

May 7, 2014 7:56 am | News | Comments

The pretzel and chip maker is selling its private brands and two manufacturing plants to Shearer's Foods LLC for $430 million as it hones its focus on its well-known brands.                       

France: GE Offer For Alstom Not Good Enough

May 6, 2014 8:13 am | News | Comments

French President Francois Hollande says that an offer by General Electric Co. for troubled French engineering company Alstom is not good enough and wants the U.S. company to come up with a better deal.             

Bayer Buying Merck's Consumer Business For $14.2B

May 6, 2014 8:09 am | by David McHugh and Geir Moulson, Associated Press | News | Comments

Bayer has agreed to buy Merck & Co.'s non-prescription medicine and consumer care business for $14.2 billion, gaining products such as Claritin allergy pills, Coppertone sun lotion and Dr. Scholl's footcare products.      

Pfizer Considers Options After AstraZeneca Snubs Offer

May 6, 2014 7:59 am | by Linda A. Johnson, AP Business Writer | News | Comments

Executives at drug maker Pfizer Inc. say they're continuing to review options after British rival AstraZeneca PLC again rejected their proposal to buy the company, adding that Pfizer would prefer a friendly deal.       

B/E Aerospace Mulls Possible Sale

May 5, 2014 12:00 pm | News | Comments

That is one of the strategic options the company said over the weekend that it was considering, as well as merging with another company or spinning off one of its businesses.              

AstraZeneca Rejects Sweetened Bid From Pfizer

May 2, 2014 7:35 am | by Danica Kirka, Associated Press | News | Comments

The board of pharmaceutical company AstraZeneca on Friday flatly rejected drug maker Pfizer's sweetened takeover offer just hours after it was levelled, describing it as inadequate.              

Siemens Joins Bidding For Alstom

April 30, 2014 8:34 am | News | Comments

French engineering company Alstom has received a purchase offer from Germany's Siemens, putting another party at the bargaining table with General Electric Co.                

PwC: Industrial Manufacturing M&A Up In Q1

April 29, 2014 10:28 am | by PwC US | News | Comments

In the first quarter of 2014, the total value for merger and acquisition (M&A) activity in the industrial manufacturing sector surpassed both the previous quarter and the same time period in 2013, largely driven by the successful completion of several mega deals, or transactions worth more than $1 billion.

Pfizer Still Pursuing AstraZeneca

April 29, 2014 8:13 am | by Danica Kirka and Linda A. Johnson, Associated Press | News | Comments

Pfizer Inc. was turned down twice by fellow drug maker AstraZeneca PLC, but the maker of Viagra and Lipitor said Monday that its proposed $100 billion acquisition makes sense for shareholders of both companies.            

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