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Market Update

Microsoft Buys Minecraft Developer, Micro Focus in $2.35 B Deal

Author: Nigel Thomas
Last Update: 12:16 PM ET September 15 2014

4:00 PM Frankfurt – Aker Solutions won five-year contract from Petrobras for $465 million. Hannover estimated net profit for the year of €850 million. Micro Focus agreed to acquire U.S.-based rival Attachmate Group for $2.4 billion. Mojang agreed to a $2.5 billion deal from Microsoft.

In London trading, FTSE 100 index slid 0.1% or 7.86 to 6,799.10 and in Frankfurt the DAX index edged up 0.08% or 7.27 to 9,658.40.

In Paris, CAC 40 index fell 0.3% or 13.84 to 4,427.86.

Aker Solutions declined 3.5% to 85.45 kronor after the Norway-based oil filed service provider’s subsidiary won five-year contract from Petrobras valued $465 million to provide subsea intervention services offshore of Brazil for its Aker Wayfarer.

The contract had extension option for an additional five years.

Greggs Plc surged 11.9% to 600 pence after the U.K.-based bakery retailer forecasted profit for the year would be “materially ahead of our previous expectation”, after comparable sales during the third-quarter climbed 5.4% for its sandwich sales and upgraded coffee and cake offerings.

Hannover Rueck SE rose 0.3% to €63.12 after the Germany-based reinsurance company expected net profit for the year of about €850 million or $1.10 billion mainly due to unexpectedly high damage claims but generate stable to slightly higher gross premium volume in fiscal 2014.

Micro Focus International Plc soared 15.3% to 971.75 pence after the U.K.-based agreed to acquire U.S.-based privately-held rival The Attachmate Group Inc. for $2.35 billion.

The transaction is expected to complete in November.

Sweden based game developer Mojang AB agreed to a $2.5 billion deal and the founder is expected to leave the company and focus on other “web experiments.”

The Stockholm developer of popular game Minecraft generated revenues of 2 billion crowns and operating profit of 896 million crowns of $126 million in 2013.

The company game was the most popular paid game both on Apple’s iPhone and Google’s Android platforms.

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