Bayer defies critics with $62 billion Monsanto offer
FRANKFURT German drugs and crop chemicals group Bayer AG has offered to buy U.S. seeds company Monsanto for $62 billion in cash, defying some of its own shareholders in a bid to grab the top spot in a fast-consolidating farm supplies industry. Monsanto Co's stock ended trading up 4.4 percent at $106 on the New York Stock Exchange on Monday, well below Bayer's $122 per share cash offer price, in a sign that it faces a tough task convincing the St. Louis-based company to sign off on the deal.Mon..>> view originalAAA reports spike in gas prices, expects heavy holiday travel
BOSTON — Despite a surge in gas prices over the past week, AAA is predicting that more Americans are getting ready this week fuel up and hit the roads for Memorial Day weekend. Regular unleaded gas in Massachusetts hit an average of $2.25 per gallon on Monday, jumping eight cents from last week's average, AAA said. AAA found prices as low as $2.11 and as high as $2.49 per gallon for regular. In late February, gas prices were averaging less than $1.70 per gallon in Massachusetts. Prices have stea..>> view originalSingapore Orders Swiss Private Bank BSI's Local Unit to Cease Operations
SINGAPORE—Singapore’s central bank on Tuesday ordered private bank BSI Bank Ltd. Singapore, a subsidiary of Swiss bank BSI SA, to shut down its operations in the city-state. Singapore authorities have been probing into BSI activities as part of...>> view originalDeal! American Capital Sells to Ares Capital
Ares Capital Corporation (NASDAQ:ARCC) proved again that it is the preferred acquirer in its industry, announcing its intention to acquire American Capital (NASDAQ:ACAS) in a deal worth $3.4 billion. This marks Ares Capital's second multibillion-dollar acquisition of a business development company. The merger will be paid for in cash and Ares Capital stock, helped by a side deal in which American Capital Agency (NASDAQ:AGNC) will buy its external manager from American Capital's asset managemen..>> view originalExpo Line, meet the real world: A car on tracks, a broken-down train
Los Angeles County commuters who woke up early Monday morning to ride the new Expo Line extension quickly encountered one of the ugly realities of the Los Angeles public transit system: its proximity to traffic. At 5 a.m. Monday, just before the start of morning rush hour, a driver in a Toyota sedan crashed through a fence and onto the light-rail tracks, which run at street level along Exposition Boulevard. The Metropolitan Transportation Authority hastily assembled buses to shuttle commuters ..>> view originalStocks dip, yields inch up on Fed rate hike talk
NEW YORK Global stock markets edged lower while short-dated U.S. Treasury yields held near two-month highs on Monday as investors weighed the possibility that U.S. interest rates could soon rise.Commodities were mostly lower. Oil prices fell for a fourth session in a row as investors worried about global supply, while gold declined to a 3-1/2-week low.In the United States, an imminent rise in interest rates was looking more probable. The Federal Reserve will likely tighten policy a bit more qu..>> view originalLA billionaire's investment could sink Gannett bid for LA Times owner
In the battle for control of Los Angeles Times parent Tribune Publishing, two health tech investors look to be the likely winners, while a massive newspaper company may walk away empty-handed.After a month of public sniping and acrimony, an unexpected $70.5-million investment from L.A. billionaire Patrick Soon-Shiong could force USA Today publisher Gannett Co. to drop its hostile buyout bid even though it appeared to have the upper hand last week. The investment was engineered by Tribune Publis..>> view originalLas Vegas-based resident agent tied to Panama Papers resigns; fine assessed - Las Vegas Review
CARSON CITY — Secretary of State Barbara Cegavske said Monday that a Las Vegas-based resident agent connected to the Panama Papers data leak has resigned. The agent worked for M.F. Corporate Services, a subsidiary of the Panamanian law firm Mossack Fonseca where a data breach revealed the firm’s efforts to hide the assets of an international list of clients. The Nevada firm was also assessed a $10,000 civil penalty, the maximum, for failing to follow Nevada law. “The office of secretary of stat..>> view originalCourt Tosses Crisis-Era Fraud Fine -- WSJ
Shutterstock photo Federal appellate judges in New York throw out civil penalty in Bank of America 'Hustle' case By Aruna Viswanatha and Christina Rexrode An appeals court dealt the Obama administration a major setback in its efforts to levy tough fines on corporations and executives, overturning a civil mortgage-fraud case against Bank of America Corp. tied to the financial crisis. The court on Monday also tossed out a $1 million civil penalty against Rebecca Mairone , a form..>> view originalCloseout sales expected at Sports Authority following bankruptcy
According to court documents filed last week, Sports Authority will likely conduct going-out-of-business sales. The sports retailer, which filed for bankruptcy protection three months ago, is shuttering all 460 of its stores after it was unable to adapt to consumers' move online.Sports Authority had originally only planned to close about 140 stores, but in a court document this week it outlined plans to shutter all of them.The Englewood, Colorado-based company said it will start discounting snea..>> view original
Tuesday, May 24, 2016
Bayer defies critics with $62 billion Monsanto offer and other top stories.
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