Business

Bemis to Be Acquired by Australian Rival Amcor in $6.8 Billion Deal

Bemis to Be Acquired by Australian Rival Amcor in $6.8 Billion Deal

Bemis Company (BMS) is poised to be taken over by Australian rival Amcor in an all-stock deal valued at $6.8 billion that will see Amcor list shares on the New York Stock Exchange. Shareholders of Neenah, Wisconsin-based Bemis will own 29% of the combined consumer packaging firm and Amcor investors will take 71%, the companies said in a statement on […]

Linde Considers Additional US Asset Sales to Salvage $47 Bln Praxair Deal

Linde Considers Additional US Asset Sales to Salvage $47 Bln Praxair Deal

Linde AG is considering the sale of additional US assets, which will mark a near exit from industrial gas operations in the country and an 11th hour attempt to salvage its $47 billion merger with Praxair (PX), Bloomberg reported Monday, citing sources familiar with the matter. The decision to sell the onsite and specialty gas businesses has not yet been […]

Kosmos Energy Enters Gulf of Mexico With Acquisition of Deep Gulf Energy

Kosmos Energy Enters Gulf of Mexico With Acquisition of Deep Gulf Energy

Kosmos Energy (KOS) said Monday it will acquire Deep Gulf Energy, a deepwater firm operating in the Gulf of Mexico, for $1.225 billion. The company said the acquisition will add to its deepwater Atlantic Margin portfolio and will be immediately accretive. The deal will enhance the scale of the company and is expected to generate “significant” free cash flow that […]

Indra K. Nooyi (PRNewsfoto/PepsiCo, Inc.)

PepsiCo CEO Nooyi to Step Down Effective Oct. 3

Indra Nooyi will step down as chief executive of PepsiCo (PEP) on Oct. 3 and will be replaced by Ramon Laguarta, the company said on Monday. Nooyi will step down on Oct. 3 after 24 years with Pepsi, including the past 12 as chief executive. She will retain her role as chairman until early 2019 to ensure a “smooth and […]

Ironwood Pharmaceuticals Q2 Loss of $0.28 Misses Street View

Ironwood Pharmaceuticals Q2 Loss of $0.28 Misses Street View

Ironwood Pharmaceuticals (IRWD) reported a Q2 non-GAAP net loss per share of $0.28, unchanged from the year-ago quarter but worse than the Capital IQ consensus forecast of a loss of $0.23. Revenue for the quarter was $81.1 million, up from $65.1 million during the same period last year, and below the analyst forecast of $82.6 million. Ironwood said it planned […]

Payrolls Miss Tempered by Upward Revisions

Payrolls Miss Tempered by Upward Revisions

The 157,000 July payroll gain undershot the 190,000 expected (with “whisper” numbers well above 200,000), but 59,000 in upward revisions left a slightly higher-than-expected July payroll level on net, just as hours-worked fell 0.2% in July after a sharp June boost to 0.5% from 0.2% also left that metric in line with July expectations. There was the expected 0.3% hourly […]