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Market Update

Europe Earnings: Alfa Laval, Lafarge, Holcim, Roche, Vivendi


Author: Nigel Thomas
ticker.com
Last Update: 11:03 AM ET April 07 2014

4:00 PM Frankfurt – Alfa Laval agreed to buy Norway-based Frank Mohn for 13 billion kronor. Holcim and Lafarge agreed to a merger of equals to form the world’s biggest cement maker. Roche Holding agreed to acquire IQuum for $450 million. Vivendi agreed to sell its SFR unit to Altice for €17 billion.

In London trading, FTSE 100 index fell 1% or 65.23 to 6,630.32 and in Frankfurt the DAX index declined 1.6% or 157.38 to 9,538.39.

In Paris, CAC 40 index dropped 0.6% or 25.51 to 4,459.04.

Alfa Laval AB increased 1.7% to 180.60 kronor after the Sweden-based heat exchangers maker agreed to buy Norway-based pump manufacturer Frank Mohn AS for 13 billion kronor or $2.17 billion in cash.

Holcim Limited slid 0.06% to 80.10 francs after the Switzerland-based building materials maker and France-based Lafarge SA agreed to form the world’s biggest cement making company and prepared to sell assets worth €5 billion in revenue to win regulatory approvals.

Roche Holding Ltd dropped 1.5% to 259.80 francs after the Switzerland-based pharmaceuticals company agreed to acquire the U.S.-based privately held IQuum in a deal worth $450 million.

Vivendi SA gained 1% to €20.76 after the France-based communications and entertainment group agreed to sell SFR, a phone company to France-based Altice SA in a deal more than €17 billion or $23 billion.

Altice agreed to pay €13.5 billion in cash and €750 million in follow up based on earnings and give 20% to Vivendi for the company created from the merger of Numericable Group with SFR.

Shares of Altice SA surged 10.8% to €33.40.

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