The proposed merger between Charles River Laboratories (NYSE: CRL) and WuXi AppTec (NYSE: WX) fell apart this week (see story). Citing investor concerns
This week's announcement that some of Charles River Laboratories’ (NYSE: CRL) investors blocked the deal to acquire WuXi Apptec (NYSE: WX) is remarkable in several aspects. Most
Investors are understandably scared of the sovereign debt crisis unfolding in Europe. Amid their angst, however, they are ignoring a more likely, and significantly larger, debt catastrophe that is about to hit the nation with the second-largest economy in the world — Japan. Two decades of stimulative, low-interest-rate fiscal policy have made Japan the most indebted nation in the developed world, and as new Prime Minister Naoto Kan recently said, in his first address to Parliament, that situation is not sustainable. Japan has little choice but to raise interest rates substantially, with dire consequences far beyond its shores.
The prelude to the current crisis began in the early 1990s, after Japan’s housing and stock market
WuXi’s CEO Blames Short-term Financial Concerns for Merger’s Demise
publication date: Jul 30, 2010
In an open letter to interested parties, Dr. Ge Li, Chairman and CEO of WuXi AppTec, said “short-term financial concerns” were the reason its merger with Charles River Labs was not completed. Dr. Li expressed regret that the failure of the merger would slow WuXi’s evolution into a company with a broader set of CRO capabilities. More details...
The proposed merger between Charles River Laboratories and WuXi PharmaTech has been canceled. Citing investors concerns about uncertainties surrounding the deal, Charles River has officially withdrawn its $21.25 cash and stock offer for all of WuXi’s shares. The large American firm must now pay its China counterpart a $30 million breakup fee. More details....
Every time there is a little blip by China in its purchasing or holding of US treasuries, hyperinflationists come out of the woodwork ranting about the "Nuclear Option" of China dumping treasuries en masse.
Such fears are extremely overblown for several reasons.
1. China's purchasing of US assets is primarily a balance of trade issue. If the US runs a trade deficit, some other countries ruin a trade surplus and thus accumulate dollars. This is purely a mathematical function as I have pointed out many times.
2. If China dumps treasuries for Euro-based assets, oil-based assets, yen-based assets or for that matter anything other than dollar based assets, the problem merely shifts elsewhere and those buyers would have to do something with the dollars.....
Speed kills. And in the fast food industry, it's imperative.
The speed of service and the ability to quickly adapt menus, packaging and advertising are what makes a market leader. And right now, the speed at which fast food companies make the transition into foreign markets, particularly China, is what matters most of all.
The industry's two biggest players, McDonald's Corp. (NYSE: MCD) and Yum! Brands Inc. (NYSE: YUM) - the parent company of KFC, Pizza Hut, and Taco Bell - know that.
When U.S. Sen. Harry Reid, D-NV, last week disclosed that the so-called "cap-and-trade' energy proposal that passed the U.S. House of Representatives last year would not be taken up by the Senate, climate-bill proponents were deeply dismayed.
Indeed, Financial Times columnist Clive Crook even said that the United States "has let the world down on climate."
But here's the irony. With the Senate's refusal, we may just have moved a step closer to a climate change policy that will actually work. And that's good news for U.S. taxpayers. And it opens new doors for U.S. investors.
WALLDORF, Germany, July 30 /PRNewswire-FirstCall/ -- SAPAG (NYSE: SAP) today announced that it has completed the acquisition of Sybase, Inc. The acquisition was completed via a short-form merger under Delaware law pursuant to which Sheffield Acquisition Corp., an indirectly wholly owned subsidiary
MARCY-L'ETOILE, France and REGENSBURG, Germany, July 29 /PRNewswire/ -- bioMerieux, a world leader in the field of in vitro diagnostics, and Hyglos GmbH, the leader in applied phage protein technology, today announced that a team of scientists who developed a new diagnostic tool for food microbiolog
Nigeria beat Colombia 1-0 thanks to an early goal to reach the final of the Under-20 Women's World Cup in Germany.
The Falconets will play Germany in Sunday's final after the hosts beat South Korea 5-1 in today's other semi-final.
Germany-based Bayer Group reported profits of 525 million euros ($686.1 million) in the second quarter, down 1.3 percent from 532 million euros ($695.2 million) in the year-ago quarter. Results included charges of 255 million euros ($333.2 million) related to litigation in the HealthCare and CropSciences segments and a partial write-down for the cancer drug Zevalin.
HEIDELBERG, Germany, July 29, 2010 /PRNewswire/ -- Thomas Kastner is the
new shareholder of Virtual Forge GmbH. As Managing Director, the former
SAP(R) employee and successful company founder, is responsible for the
Product Management of the Heidelberg software security specialist. Thomas
Kastne
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