The big news of today is Monsanto has accepted Bayer’s takeover offer of $128 per share or $66 billion. That means the world’s biggest seeds and pesticides company has been created. To monitor the crowd’s conversations and the development of this momentous merger, you’re already in the right place here on Sentifi.
Bayer CEO Werner said the merger will “bring benefits across the board and deliver substantial value to shareholders, customers, employees and society at large.” The new company will control more than 25 percent of the world’s supply of seeds and pesticides. Expect to see the deal gets hit with antitrust issues.
The M&A train seems to be in full throttle as Allergan announced it would buy Vitae for $639 million in cash. Allergan would be able to expand its main dermatology with this deal.
4/ Wells Fargo: Has more trouble with the law
The U.S. Attorney’s Offices for the Southern District of New York and the Northern District of California are considering prosecuting the bank for its abuses of customers. Meanwhile, the Justice Department is investigating the bank’s improper sales tactics that could lead to criminal or civil charges.
6/ Richemont: Weak demand drags down 5-month sales by 13 percent
The slowdown in global economy took a toll on the luxury goods group. Weak demand for luxury watches and inventory buybacks in Hong Kong has caused its sales to slide 13 percent. Its other important markets such as Paris didn’t perform well either due to various reasons, with extremist attacks being one of them.
8/ Naspers Limited: Buys Citrus Pay for $130 million
South Africa’s Naspers is expressing its goal to expand into India by letting its subsidiary online payments company PayU acquire India’s Citrus Pay for $130 million in cash. Despite offering the same services, PayU and Citrus Pay believe by combining their businesses, they can expand into more offering around banking and other services.
9/ Sarepta Therapeutics: FDA might deny approval for its new drug
Short sellers are betting against an FDA approval of the company’s Duchenne muscular dystrophy drug. The company’s shares increased more than 23 percent following the departure of one of the harshest critics in the FDA, Dr. Ron Farkas, which brought hopes that the drug may be approved.
10/ Weight Watchers: Needs a real business plan to get the shares back up
The company’s shares fell 8 percent following the resignation of CEO James Chambers, for a total of 55 percent this year. Now, analysts are weighing in the matter. One of the popular advices is the company needs a real business plan to compete against the likes of Apple and Fitbits. Its app needs a revamp, and it needs a CEO with a good strategic mindset.
If you want to harness the wisdom and insights from the crowd to monitor your portfolio free of charge, sign up at Sentifi.