GLOBAL MARKETS LIVE: Google wins Fitbit, Epic Games loses first court battle against Apple…
|09/29/2020 | 09:54am|
The European Union is expected to authorize Google’s takeover of Fitbit. The situation is worsening in the LVMH / Tiffany case, Sanofi finalizes the acquisition of Principia. Amazon launches summer sales in the fall and NTT wants to delist Docomo.
Fitbit’s acquisition to get green light. Google (Alphabet) is on the verge of obtaining the approval of Brussels for the acquisition of Fitbit for 2.1 billion dollars after having made new concessions to meet the concerns of the European competition authority, Reuters reports.
Transaction complete. Sanofi took control of Principia Biopharma yesterday. The $3.7 billion transaction should enable the laboratory to strengthen its development portfolio through a player with whom it has been working since 2017, notably in the treatment of multiple sclerosis.
Tata and Walmart working together. Walmart is negotiating with Tata Group for an investment of up to $35 billion in the Indian conglomerate's plan to launch an e-commerce platform for all the consumer goods it offers, reports Indian business daily Mint.
The counterattack. LVMH in turn filed a lawsuit against Tiffany in the Delaware court, claiming that the jeweler was mismanaged during the coronavirus crisis. The U.S. court has set January 5, 2021 as the date of the lawsuit initiated by Tiffany, which seeks to force the French group to complete his $16.2 billion acquisition. A case that promises to have a few twists and turns.
Bye-bye Docomo? NTT, the parent company of NTT Docomo is considering delisting its subsidiary, which could represent $38 billion for the 34% not held. Nikkei revealed the information by calculating a 30% premium. NTT confirmed that its board of directors will address the issue today, without having initially set a price.
Epic will have to wait. The Californian justice refuses Epic Games' request to reintroduce Fortnite on Apple's AppStore, so a trial should take place next summer. The publisher is contesting the Apple's 30% commission.
Pilots are negotiating. United Continental has reached an agreement to avoid the layoff of 2850 pilots until at least June 2021. However, the carrier is expected to make thousands of layoffs on Thursday, after the expiration of the minimum period imposed by the United States in exchange for their financial assistance.
Summer sales in autumn. Amazon.com will hold its summer sales normally scheduled for July on October 13 and 14. Major investments are planned on these two days. The group prides itself on having helped thousands of small businesses to get through the crisis. SMEs account for about 60% of physical sales volumes on the platform.
In other news. Universal Health Services hit by a cyber-attack. Walmart could invest $25 billion in Tata Group's giant e-commerce project. IT protection software specialist McAfee launches its Nasdaq introduction process. According to the information obtained by Bloomberg, Uber is working on a purchase of the joint venture of BMW and Daimler in carpooling. Steag chooses Alfen as partner for the solar park in Leeuwarden. Basilea launches phase 2 study for lisavanbulin against glioblastoma. Fiat Chrysler to pay $9.5 million to the SEC to settle a dispute over the accuracy of its financial disclosure.