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Market Update

Fresenius in €5.8 B Deal with Quironsalud, GE Buys Arcam and SLM


Author: Sarla Buch
ticker.com
Last Update: 6:12 PM ET September 06 2016

4:00 PM Frankfurt – Vietnam based Jetstar Pacific agreed to buy 10 additional A350 planes from Airbus. Arcam and SLM Solutions agreed to be acquired by GE for $1.5 billion. Bayer said it is prepared to lift its Monsanto offer. Fresenius agreed to acquire Spain-based Quironsalud for €5.8 billion.

In London trading, FTSE 100 index slumped 42.49 or 0.6% to 6,836.43 and in Frankfurt the DAX index edged up 8.25 to 10,681.09.

In Paris, CAC 40 index slipped 11.26 or 0.3% to 4,529.82.

Airbus Group SE gained 1.5% to €54.69 after the Netherlands-based aerospace and defense group said Vietnam-based budget airline Jetstar Pacific agreed to buy 10 more A350 planes apart from 10 it has already agreed to operate to expands its domestic and international network.

The deal still needs to be finalized and the order would have list price of $3 billion.

Arcam AB soared 53.2% to 285 Swedish kronor after the Sweden-based three-dimensional metal printing services provider agreed to be acquired by the U.S.-based industrial conglomerate General Electric Co for 285 kronor or $33.32 per share or about $700 million in cash.

Bayer AG advanced 1.6% to €95.78 after the medical products and crops maker said that it was prepared to lift its $127.50 per share offer from the earlier initial offer of $122 to $125 per share to buy the U.S.-based seeds producer Monsanto Co for more than $65 billion.

Fresenius SE & Co KGaA jumped 5.7% to €69.94 after the Germany-based healthcare products and services provider agreed to acquire the Spain-based private hospital chain IDC Salud Holding S.L.U. “Quironsalud” for about €5.76 billion on a cash and debt-free basis.

In fiscal 2016, Quironsalud forecasted sales of about €2.5 billion and operating profit in the range of €460 million to €480 million and in fiscal 2017 and estimated operating profit between €520 million and €550 million.

The transaction is expected to close during the fourth-quarter of this year or in the first-quarter of 2017.

The LEGO Group, the Denmark-based privately held family-owned toy maker said revenues in the first-half ending in June soared 11% from a year ago to 15.69 billion kronor.

Net profit in the period dropped 1.7% from a year ago to 3.49 billion kronor compared to the 3.55 billion kronor.

In the first-half, the group experienced double-digit growth in Europe and Asia, while the Americas were flat year over year.

Metro AG declined 4% to €26.78 after the Germany-based self-service wholesaler said it was proceeding with its plan to separate its wholesale and food business from its consumer electronics chain.

The self-service wholesaler planned to transfer the wholesale and food specialist businesses and related activities to an independent listed company and the consumer electronics business will remain with Metro.

The split off is expected to be finished by mid-2017.

SLM Solutions Group AG surged 39.1% to €39.06 after the Germany-based three-dimensional products maker agreed to be acquired by the U.S.-based industrial conglomerate General Electric Co for €38 or $42.38 per share or about $761 million in cash offers.

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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