Town Hall News

BENGALURU (Reuters) – Blackstone Inc’s delisting offer for India’s R Systems International Ltd was unsuccessful as the U.S. investment fund failed to draw enough interest from public shareholders, the manager to the offer said on Monday. Blackstone, which in November said it would buy a near 52% stake in the IT services firm for $359 million, needed to raise its stake to 90% for the delisting proposal to work. However, […]

TOKYO (Reuters) – Japan’s Hamamatsu Photonics KK said on Monday that Danish authorities had rejected a European subsidiary’s application to acquire Copenhagen-based fibre laser manufacturer NKT Photonics A/S from NKT A/S. Hamamatsu Photonics had announced plans for the takeover last June for about 205 million euros ($226 million) to expand application of its laser diode business based on compound semiconductor manufacturing technology. NKT Photonics’ lasers could be used for inspection […]

(Reuters) – Chip designer Qualcomm Inc said on Monday it would buy Israel’s Autotalks Ltd that makes chips used in technology aimed at preventing vehicle crashes, as the U.S. firm looks to deepen its automotive business. With increasing electric vehicles and automatic features in cars, the number of chips used by automakers is surging, making the automotive market a key growth area for chipmakers. Autotalks makes dedicated chips used in […]

(Reuters) -Catalent Inc expects to cut by more than $400 million both its full-year revenue and core profit forecasts, the contract drug manufacturer said on Monday, sending its shares tumbling 27% to a three-year low. The announcement came just a day ahead of third-quarter results, which have been pushed to May 15 to allow the company to make some adjustments to financial statements related to its operations in Bloomington, Indiana. […]

By Andrius Sytas RIGA (Reuters) – In a Stalinist skyscraper which dominates the skyline of Latvia’s capital, dozens of elderly Russians wait to take a basic Latvian language test as a proof of loyalty to a country where they have lived for decades. Clutching red Russian passports, the participants, mostly women, read their notes for last minute revision, fearing they may be expelled from the Baltic country if they fail. […]

(Reuters) – Germany’s Merck KGaA has appointed Helene von Roeder as the new chief financial officer and member of the Executive Board after Marcus Kuhnert has decided to step down, the drugmaker announced on Monday. The changes would become effective from July 1, the company added. German real estate company Vonovia announced this month that von Roeder would be leaving its management board at her own request as of July […]

(Reuters) -Sweden’s Assa Abloy AB, the world’s No. 1 lock maker, and U.S.-based Spectrum Brands Holdings said on Friday they have reached a settlement with the U.S. Justice Department regarding Assa’s $4.3 billion proposed deal to buy Spectrum’s hardware and home improvement (HHI) division. The Justice Department last year sued to block the proposed deal by Assa Abloy to buy the Spectrum Brands HHI division, which makes residential door hardware, […]

HANOI (Reuters) – Vietnam is preparing to make it mandatory for social media users of both local and foreign platforms to verify their identity in a bid to rein in online scams, state media reported on Monday. The measure, part of the Telecommunications Law Amendment to be issued by the end of this year, will enable law enforcement agencies to track down offenders using social media to break the law, […]

HANOI (Reuters) – Vietnam is preparing to make it mandatory for social media users of both local and foreign platforms to verify their identity in a bid to rein in online scams, state media reported on Monday. The measure, part of the Telecommunications Law Amendment to be issued by the end of this year, will enable law enforcement agencies to track down offenders using social media to break the law, […]