Established 1999
8,000 companies from USA and India.  
Search over 25,500 news articles and 8,000 companies earnings    
Market Update : 
Medtronic in $6.1 B Deal with Cardinal Health, H&M March Sales Jumps
Author: Sarla Buch
Last Update: 11:19 AM ET April 18 2017

Email article | Print article

4:00 PM Frankfurt Daily Mail and General Trust agreed to sell its viral video sharing service. Hennes & Mauritz said sales in March jumped 6% on late Easter. Medtronic agreed to divest its monitoring and recovery products business for $6.1 billion. Weetabix agreed to be acquired by Post Holdings.

In London trading, FTSE 100 index declined 161.95 or 2.2% to 7,164.21 and in Frankfurt the DAX index dropped 65.04 or 0.5% to 12,043.

In Paris, CAC 40 index slumped 60.81 or 1.2% to 5,009.81.

Daily Mail and General Trust Plc slipped 1.5% to 705.50 pence after the U.K.-based media and publishing company agreed to sell its viral video-sharing website Elite Daily to Bustle Digital Group for an undisclosed financial terms.

H & M Hennes & Mauritz AB fell 0.5% to 217.50 Swedish kronor after the Sweden-based clothing and accessories retailer said sales in March jumped 6% from 1% decrease in February and 8% decline in the same month a year ago.

Medtronic Plc, the Ireland-based privately held medical technology and services provider agreed to divest its patient care, deep vein thrombosis, and nutritional insufficiency business to the U.S.-based rival Cardinal Health Inc for about $6.1 billion in cash.

Medtronic plans to allocate $1 billion of after-tax proceeds for incremental share repurchases in fiscal 2018 and balance will be used to reduce the debt.

The transaction is expected to close in Medtronic''s second-quarter of its fiscal year 2018.

Weetabix Limited, the privately held the U.K.-based flakes and muesli maker agreed to be acquired by the U.S.-based cereal maker Post Holdings Inc for more than 1.4 billion or $1.76 billion from China-based Bright Food Group.

In January, the Chinese owner Bright Food had put up for sale its Britain''s second-largest ready-to-eat cereal maker Weetabix, including Alpen, Barbara''s brands, Honey Bunches of Oats and Grape-Nuts.

The state-owned Bright Food bought 60% stake of Weetabix from the private equity firm Lion Capital in 2012 for about 1.2 billion.

  1 More: Market Update Archive


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

350 Fund Managers Interviews - 10-year Annual earnings on 4,600 U.S. companies - 20-quarter Earnings on 3,800 U.S. companies - 3,200 U.S. IPO Prospectuses
- 2,100 Economic data releases from U.S., EU, UK, India, HK and Australia. 10-year Annual reports on 3,500 U.S. companies -
U.S. Earnings Calendar with 4,800 companies - 90,000 10-K reports - 26,000 Global markets news archive - 2,200 Earnings Conference Call Summaries

Other Sites:
1999-2017 All rights reserved