Lagging U.S. healthcare stocks could see short-term boost but clouds linger

Lagging U.S. healthcare stocks could see short-term boost but clouds linger
NEW YORK (Reuters) – Second-quarter strength in U.S. healthcare stocks is almost as reliable for Americans as warming weather and the start of baseball season. This year, however, the already-lagging sector may struggle to sustain any kind of rally. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2019.... Read More

Bristol-Myers says shareholders vote to approve Celgene takeover

Bristol-Myers says shareholders vote to approve Celgene takeover
FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured at the headquarters in Le Passage, near Agen, France March 29, 2018. REUTERS/Regis Duvignau/File Photo NEW YORK (Reuters) – Bristol-Myers Squibb Inc’s shareholders voted to approve the drugmaker’s $74 billion takeover of biotech Celgene Corp on Friday despite a campaign by activist hedge fund Starboard Value LP to scuttle... Read More

Merck KGaA clinches $6.5 billion Versum takeover in bet on electrochemicals

Merck KGaA clinches $6.5 billion Versum takeover in bet on electrochemicals
FRANKFURT (Reuters) – Germany’s Merck KGaA sealed a $6.5 billion takeover deal with Versum Materials after overturning a deal it had agreed with rival bidder Entegris. FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski/File Photo A bet on a recovery in electronic materials markets for semiconductor makers,... Read More

Wall St treads water ahead of big bank earnings

Wall St treads water ahead of big bank earnings
(Reuters) – U.S. stocks traded in a tight range on Thursday, as losses in the healthcare sector were offset by a rise in industrial shares, with big U.S. banks notching gains ahead of earnings. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid/File Photo JPMorgan Chase... Read More

Wall Street treads water ahead of big bank earnings

Wall Street treads water ahead of big bank earnings
(Reuters) – U.S. stock traded in a tight range on Thursday, as losses in the healthcare sector were offset by a rise in industrial shares, with big U.S. banks notching gains ahead of earnings. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid/File Photo JPMorgan Chase... Read More

Wall Street dips ahead of big bank earnings

Wall Street dips ahead of big bank earnings
(Reuters) – Wall Street’s main indexes dipped on Thursday, hit by a drop healthcare shares, but gains in financials ahead of big bank earnings helped limit losses. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid/File Photo The S&P financial index rose 0.54%, while the banking... Read More

Starboard abandons campaign to scuttle Bristol-Myers-Celgene deal

Starboard abandons campaign to scuttle Bristol-Myers-Celgene deal
NEW YORK (Reuters) – Activist hedge fund Starboard Value LP on Friday abandoned a campaign to convince Bristol-Myers Squibb Co shareholders to vote down the drugmaker’s proposed $74 billion takeover of biotech Celgene Corp after the two leading proxy advisory firms backed the deal. FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured on the blouse of an... Read More

Global M&A slides in first quarter as Brexit weighs on Europe

Global M&A slides in first quarter as Brexit weighs on Europe
LONDON/NEW YORK (Reuters) – Global mergers and acquisitions (M&A) sank 17 percent in the first quarter of 2019, as concerns about an economic slowdown and fears of a no-deal Brexit in Europe spooked chief executives and corporate boardrooms from pursuing big tie-ups. FILE PHOTO: Banners of Deutsche Bank and Commerzbank are pictured in front of the German share price index,... Read More

Exclusive: Magellan Health nears board deal with hedge fund Starboard Value – sources

Exclusive: Magellan Health nears board deal with hedge fund Starboard Value – sources
NEW YORK/BOSTON (Reuters) – U.S. healthcare plan and pharmacy benefits manager Magellan Health Inc is nearing an agreement with Starboard Value LP to expand the size of its board by several seats, including a representative from the activist hedge fund, three sources familiar with the matter said on Thursday. Magellan did not respond to a request for comment. Starboard declined... Read More

Merck KGaA goes hostile in $5.9 billion Versum takeover battle

Merck KGaA goes hostile in $5.9 billion Versum takeover battle
FRANKFURT (Reuters) – German pharma group Merck KGaA on Tuesday sidestepped the management of takeover target Versum Materials and took its $5.9 billion offer directly to the U.S. chemical company’s shareholders. FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski/File Photo Versum, the former specialty chemicals division of... Read More