Roche to Acquire Foundation Medicine, Shire to Buy NPS Pharma

Nigel Thomas
12 Jan, 2015
New York City

Aer Lingus Group rejected IAG

[R]4:00 PM Frankfurt – Aer Lingus Group rejected IAG’s revised offer. Roche Holding agreed to acquire Foundation Medicine for $1.2 billion. Onex agreed to acquire Survitec for £450 million. Shire Plc agreed to acquire the U.S.-based NPS Pharmaceuticals for $5.2 billion.[/R]

In London trading, FTSE 100 index slid 0.04% or 2.82 to 6,498.32 and in Frankfurt the DAX index gained 0.9% or 86.69 to 9,735.19.

In Paris, CAC 40 index increased 0.9% or 37.60 to 4,216.67.

Continental AG gained 1.9% to €174.60 after the Germany-based automobile parts supplier said despite negative exchange rate sales for the year increased to €34.5 billion and adjusted EBIT jumped to €3.8 billion from a year ago period.

The company said the impact on exchange rate affected sales adversely by €500 million.

International Consolidated Airlines Group SA, the parent of British Air increased 1.4% to 472 pence after the Spain-based airline said its revised proposal of December 29 was rejected by the Ireland-based low-cost carrier Aer Lingus Group Plc.

The IAG said it offered €2.40 per share in cash or about $2.84 per share higher than the initial offer of €2.30 a share.

Shares of Aer Lingus Group Plc declined 4.4% to €2.39.

Roche Holding AG, the Switzerland-based pharmaceuticals and diagnostics company agreed to acquire a majority stake in molecular and genomic analysis company Foundation Medicine Inc for about $1.18 billion.

Survitec Group Limited, the U.K.-based safety and survival equipment maker agreed to be acquired by Canada-based private equity firm Onex Corp for £450 million or $679.7 million from the U.S.-based private investment company Warburg Pincus LLC

Shire Plc slipped 0.7% to 4,707pence after the Ireland-based drug-maker agreed to acquire U.S.-based NPS Pharmaceuticals Inc for $5.2 billion or $46 per share in cash.