European Corporate Roundup for Monday
03 Juin 2019 - 10:48AM
Dow Jones News
AstraZeneca Lynparza Trial Results 'Unprecedented'
AstraZeneca said phase 3 results from a trial of its Lynparza
cancer treatment, developed with Merck & Co. (MRK),
demonstrated that the drug nearly doubled the time patients lived
without disease progression.
The British pharmaceutical company said the POLO trial of
Lynparza for patients with pancreatic cancer showed that 22%
remained free of disease progression after two years, compared with
just 10% on a placebo.
AstraZeneca shares fell 0.9%.
---
Infineon Technologies to Acquire Cypress Semiconductor Corp. in
$10.1 Bln Deal
Infineon Technologies said it will acquire Cypress Semiconductor
Corp. (CY) for an enterprise value of 9 billion euros ($10.1
billion).
The German company said the price, which is equal to $23.85 per
Cypress share, represents a 46% premium to Cypress's unaffected
30-day volume-weighted average price during the period from April
15 to May 28.
Infineon shares fell 4.6%.
---
Lonza to Carve out Specialty Ingredients Business
Lonza Group said it intends to proceed with the carve-out of its
Specialty Ingredients segment, known as LSI.
The LSI business will remain fully owned by the biotechnology
firm, but will be under independent management, Lonza said. The
separation has already begun and should be completed by mid-year
2020.
The partial divestiture should allow the LSI segment to
strengthen its microbial expertise in a competitive environment,
the company said.
Lonza shares rose 0.7%.
---
Total to Take Over Toshiba's LNG Portfolio
Total said Saturday that it signed an agreement to take over
Toshiba Corp.'s (6502.TO) liquefied natural-gas portfolio.
The French company said it will receive a cash consideration
from Toshiba of $800 million once the deal closes.
Under the terms of the transaction, Total will acquire all the
shares of Toshiba America LNG for which the French company will pay
$15 million.
Total shares fell 1.1%.
---
Total Starts Up Second Solar-Power Plant in Japan
Total said it has switched on its second solar-power plant in
Japan after two years of construction.
The 25-megawatt peak solar-power plant in Miyako will generate
clean, reliable electricity for more than 8,000 Japanese
households, the French oil-and-gas company said.
---
Veolia Signs Water-Treatment Deal With AngloGold Ashanti in
Ghana
Veolia Environnement said it has signed a contract with gold
producer AngloGold Ashanti Ltd. (ANG.JO) for water treatment in
Ghana.
Under the three-year agreement, Veolia's subsidiary Veolia Ghana
Ltd. will operate and maintain the water-treatment plants at
AngloGold Ashanti's Obuasi gold mine, it said.
Veolia shares fell 0.2%.
---
(END) Dow Jones Newswires
June 03, 2019 04:33 ET (08:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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