3:20 PM Frankfurt – AstraZeneca agreed to acquire Pearl Therapeutics for $1.15 billion. Marks and Spencer plans to invest £200 million in a new distribution center. Consortium of investors abandoned its £5.3 billion offer for Severn Trent. Vue agreed to an offer of $935 million from Canada based private equity firms.
In London trading, FTSE 100 index slid 0.2% or 10.45 to 6,402 and in Frankfurt the DAX index increased 0.8% or 68.05 to 8,323.
In Paris, CAC 40 index inched lowered 0.1% or 2.63 to 3,870.
rose 0.8% to 3,328.50 after the UK based biopharmaceutical agreed to acquire a privately held Pearl Therapeutics valued $1.15 billion for respiratory disease.
The proposed transaction is expected to close in the third quarter of 2013.
fell 0.9% to 242.30 pence after the UK based security solution provider said William H. Gates III, the chairman of Microsoft increased his stake of 45,224,081 shares in the company which represents 3.2% of the company''s total voting rights.
Marks and Spencer Group plc
added 0.1% to 452.80 pence after the UK based retailer plans to invest £200 million into a new distribution centre at London Gateway.
The distribution center of 900,000 sq ft is to be located at London Gateway Logistics Park.
Severn Trent Plc
declined 5.2% to 1,962.28 pence after the UK based water treatment provider said Borealis Infrastructure Management Inc. and LongRiver group forsake its £5.3 billion offer to negotiate with the group.
Borealis chief executive officer Michael Rolland said “The Severn Trent board has no interest in discussing our pre-conditional offer with us.”
Vue Entertainment Group
, the UK based movie theater chain operator agreed to an offer of $935 million from Canada based OMERS Private Equity and Alberta Investment Management.
Doughty Hanson, a private equity investor bought the cinema chain for £450 million in 2010.
surged 23.9% to 790.50 after the UK based inkjet print-head supplier said sales through the period January to May increased on higher demand.
The company lifted its revenue guidance for the full year to a growth of 50% from £86.3 million sales in 2012 and also plans to spend over £12 million in 2013 for research and development.