Roche Agrees to Acquire InterMune for $8.3 B, LSE Profit Surges

Nigel Thomas
25 Aug, 2014
New York City

Atlas Mara agreed to acquire 50.1% controlling stake in the Africa based BancABC. London Stock Exchange profit surged 64% to

[R]4:00 PM Frankfurt – Atlas Mara agreed to acquire 50.1% controlling stake in the Africa based BancABC. London Stock Exchange profit surged 64% to £70 million. Phorm Corp net loss narrowed after revenue surged to $529 million. Roche agreed to acquire U.S.-based InterMune for $8.3 billion.[/R]

In Frankfurt the DAX index jumped 1.8% or 170.97 to 9,510.14 and in Paris, CAC 40 index climbed 2.1% or 89.31 to 4,342.11.

London markets were closed for a holiday.

Atlas Mara Co-Nvest Ltd closed at 11.49 pence after the U.K.-based investment company agreed to acquire 50.1% controlling stake in the Botswana headquartered pan-African bank BancABC.

London Stock Exchange Plc closed at 2,029 pence after the U.K.-based exchange operator reported revenue in the first-quarter ending in June climbed 20% to £299.9 million from £249.7 million a year ago period.

Profit in the quarter surged 63.7% from a year ago to £60.9 million compared to £37.2 million and diluted earnings per share jumped to 18.9 pence from 12.9 pence.

Phorm Corporation Limited jumped 2.9% to 8.75 pence after the technology company revenue in the first-half ending in June surged to $528.75 million from $28.55 million a year ago period.

Net loss in the period narrowed from a year ago to $22.9 million compared to $24.8 million and diluted loss per share declined to 4 cents from 4 cents from 18 cents.

Roche Holding AG rose 0.5% to 267.30 francs after the Switzerland-based pharmaceuticals company agreed to acquire U.S.-based biotech company InterMune Inc for $8.3 billion in cash.

The company also decided not to bid for the remaining stake in the Japan-based drug-maker Chugai Pharmaceutical Company.

Under the terms, Roche will tender to acquire all outstanding shares of InterMune by the end of this month.