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...International drugs and biotechnology companies with a local presence include GlaxoSmithKline, Amgen and Genzyme. Cambridge and Tech City in east London are hubs for technology companies....
...In 2004, he worked with the Mexican tortilla manufacturer Gruma to issue the first perpetual bond sold by a corporation....
...Add in a bid premium and the ratios involved would make Sanofi-Aventis’s $20bn takeover last year of Genzyme Corporation, at about five times sales, seem parsimonious by comparison....
...“Multinational corporations have an unprecedented amount of idle cash, debt financing is available at historically low rates, equity valuations remain cheap and cost-cutting has made most corporations lean...
...Carnival Corporation dropped by the most in seven months on Wednesday as fears of an oil shock dragged the FTSE 100 sharply lower....
...Shares in Genzyme gained 0.5 per cent to $72.75 while US-listed shares in Sanofi-Aventis nudged up 0.5 per cent to $34.21....
...Mr Icahn in March nominated himself and three other candidates as Genzyme directors, arguing that the board needed more manufacturing expertise....
...“I don’t know if [deal activity] is a sign of confidence or more of a sign of the enormous amounts of cash sitting idle on balance sheets of very, very large corporations.”...
...US-listed shares of Barrick Gold Corporation, the world’s largest gold miner, were up 1.3 per cent to $40.54 after it raised its dividend by 20 per cent to 12 cents a share....
...Alongside help with land came direct financial incentives, including a corporation tax rate initially set at zero and special export credits....
...Though BP was touted as a potential buyer, other dealers believed there may be interest from a state-owned group such as Korea National Oil Corporation....
...But this bifurcation may not work well for corporations whose top executives receive hefty payments if their titles change, Mr Daly says....
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