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Market Update

adidas Jumps on Reebok Offer, Nutreco in €2.7 B Deal with SHV


Author: Nigel Thomas
ticker.com
Last Update: 11:30 AM ET October 20 2014

4:00 PM Frankfurt – adidas received €1.7 billion buying offer for Reebok. Ferrovial offers to buy Transfield for about €680 million. Nutreco surged on acquisition offer from SHV for €2.7 billion. SAP profit surged 16% to €881 million. Spirit Pub is in talks with Greene King for £723.3 million.

In London trading, FTSE 100 index slipped 0.8% or 48.77 to 6,261.52 and in Frankfurt the DAX index declined 1.7% or 146.26 to 8,704.01.

In Paris, CAC 40 index dropped 1.3% or 53.94 to 3,979.24.

adidas AG climbed 4.3% to €56.97 after the Germany-based sports footwear, apparel and accessories maker received offer to acquire its subsidiary Reebok International Ltd from a group of investor including Jynwel Capital, Abu Dhabi for about €1.7 billion or $2.2 billion.

Ferrovial SA fell 0.7% to €15.12 after the Spain-based transportation infrastructure developer clarified that the total price of the indicative, non-binding offer for acquisition of Australian–based Transfield Services Ltd for $1.95 per share or €680 million or $876 million in cash.

Nutreco Holding N.V surged 39.2% to €39.26 after the Netherlands-based nutrition and fish feed company agreed on acquisition offer of SHV Holdings N.V for €2.7 billion or $3.4 billion. The offer represents 42% premium over Nutreco’s closing stock price on October 17.

The transaction is expected to close in fourth-quarter of this year.

SAP SE declined 4.6% to €51.50 after the Germany-based enterprise applications provider said total revenue in the third-quarter ending in September climbed 5% to €4.25 billion from €4.05 billion a year ago period.

Profit in the quarter surged 16% from a year ago to €881 million compared to €762 million and earnings per share jumped to €0.74 from €0.64.

Spirit Pub Co Plc climbed 6.6% to 97 pence after the U.K.-based pubs operator is in talks with its rival Greene King Plc after revised offer of 109.5 pence-per-share, valuing Spirit at £723.3 million or $1.16 billion, 20% premium to the closing price of on Friday.

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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