Quick view: Merck to buy Idenix for about $3.85 billion

Jun 10 2014, 00:57 IST
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SummaryMerck 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 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

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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

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