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Wednesday, May 15, 2013

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05/15/2013
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
China Galaxy IPO raises $1.1 billion, priced for first day pop
HONG KONG (Reuters) - State-owned China Galaxy Securities Co Ltd raised $1.1 billion in Hong Kong's biggest IPO in six months, pricing the offer at the low end of its marketing range as it looks for a first day pop on its debut next week.
Sinopec unit narrows range of up to $1.88 billion Hong Kong IPO: IFR
HONG KONG (Reuters) - The engineering unit of China's Sinopec Group, Asia's largest refiner, narrowed the indicative price range on its up to $1.88 billion initial public offering, IFR reported on Wednesday, citing sources familiar with the plans.
Hopes of Americas sale rise as Thyssen takes writedown
FRANKFURT (Reuters) - German steelmaker ThyssenKrupp took another writedown on the value its Steel Americas business, driving it to an unexpected quarterly loss but raising hopes it is closer to selling the troubled asset.
Severn Trent rejects takeover approach
LONDON (Reuters) - Severn Trent rejected a preliminary takeover offer from a consortium including Borealis infrastructure and the Kuwait Investment Office, saying the offer undervalued the British water company.
Warner Music wins EU okay for Parlophone buy
BRUSSELS (Reuters) - Warner Music won EU regulatory approval on Wednesday to buy the Parlophone Label Group from Vivendi's Universal Music Group for 487 million pounds ($743.01 million).
UK's Lonrho gets buyout offer of nearly double its market value
(Reuters) - British conglomerate Lonrho Plc , whose roots go back more than a 100 years to colonial Africa, received a buyout offer valuing the company about 175 million pounds ($266 million), double its market value at the close on Tuesday.
EU to rule on Master Blenders coffee deal by June 19
BRUSSELS (Reuters) - EU antitrust regulators do not see any competition issues regarding a 7.5-billion-euro ($9.73 billion) offer by German investor Joh A Benckiser (JAB) for the Dutch owner of Douwe Egberts coffee and will decide on the deal by June 19.
Cipla Medpro shareholders back buyout by India's Cipla
JOHANNESBURG (Reuters) - Shareholders of South Africa's Cipla Medpro overwhelmingly approved a $488 million takeover offer from India's Cipla Ltd on Wednesday, giving the Indian drugmaker a big presence in Africa's biggest economy.
Ford to build small SUV in Russia for local market
FRANKFURT (Reuters) - Ford Sollers, the Russian joint venture of U.S. carmaker Ford Motor Co , will build the EcoSport in Russia next year, at a time when the market for small SUVs is gaining traction in the country, Ford officials said on Tuesday.
Actavis rejected $15 billion offer from Mylan: source
NEW YORK (Reuters) - Actavis Inc received and rejected a takeover offer from Mylan Inc last week that valued the generic drugmaker at more than $15 billion, a person familiar with the situation told Reuters on Tuesday.
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