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Market Update

Alcatel Lucent to Raise 1 B; Henkel, Oljeselskap in Deals

Author: Nigel Thomas
Last Update: 10:55 AM ET June 02 2014

4:00 PM Frankfurt Alcatel Lucent plans to issue 1 billion of convertible bonds. Bilfinger plans to sell its civil engineering division. Det norske agreed to buy Norwegian operations of Marathon Oil for $2.7 billion. Henkel agreed to acquire three hair care companies in the U.S. for 270 million.

In London trading, FTSE 100 index rose 0.2% or 12.57 to 6,857.08 and in Frankfurt the DAX index slid 0.2% or 15.45 to 9,927.82.

In Paris, CAC 40 index fell 0.3% or 11.22 to 4,508.35.

Alcatel Lucent SA dropped 2.4% to 2.92 after the France-based today launched an offering of bonds convertible bonds in two tranches for about 1 billion or $1.4 billion to reimburse a senior secured credit facility of $1.75 billion.

The company said first tranche of about 600 and second tranche of about 400 million and both will mature on January 30 2019 and 2020 respectively.

Bilfinger SE slid 0.2% to 86.28 after the Germany-based engineering service provider plans to sell its civil engineering division and intends to look for acquisitions abroad, the Die Welt newspaper quoted on Saturday.

Det norske oljeselskap climbed 9.3% to 69.2 krone after the Norway-based oil and gas explorer agreed to acquire a part of Norwegian operations from the U.S.-based Marathon Oil Corporation for $2.7 billion in a transformational agreement.

The company today said it will issue new shares for $500 million.

Henkel AG & Co KGaA rose 0.4% to 85.08 after the Germany-based detergents and glues maker agreed to acquire the U.S.-based three hair care companies - SexyHair, Alterna and Kenra - from investment group TSG Consumer Partners for about 270 million or $370 million in cash.

Halma Plc edged up 0.2% to 593.50 pence after the U.K.-based health and safety devices maker completed the acquisition of the U.S.-based Rohrback Cosasco Systems Inc, a maker of pipeline corrosion, smoke detectors and automatic door sensors for about $108 million in cash.

Norma Group SE gained 1.9% to 40.76 after the Germany-based engineering company''s chief executive said the group has 93 million or $127 million in cash to spend on acquisitions and the company is in talks with potential targets.

Roche Holding Ltd increased 1.6% to 267.80 kronor after the Switzerland-based pharmaceuticals and diagnostic company agreed to buy the U.S.-based privately held gene-sequencing firm Genia Technologies for up to $350 million to decode human genes at a lower cost.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc