Bid & Ask
Bid & Ask: The Deals of the Week
1. Express Scripts’ (ESRX) $29 billion bid for rival drug benefits manager Medco Health Solutions won approval from U.S. antitrust regulators. The merged company will handle prescriptions for almost one in three Americans.
4. Molson Coors Brewing (TAP), the U.S. maker of Carling lager, is buying StarBev for $3.5 billion to add beer brands such as Staropramen and to expand into central and eastern Europe.
6. Japan’s No. 1 grain trader, Marubeni (9763:JP), will pay $1.6 billion for a share of billionaire Gina Rinehart’s Roy Hill Australian iron ore project. It’s the last of Japan’s five major commodity trading houses to enter the iron ore market.
7. Royal Bank of Canada (RY), the country’s biggest bank, will buy the 50 percent of RBC Dexia Investor Services it doesn’t already own from Banque Internationale à Luxembourg for about $1.1 billion.
8. San Miguel, the Philippines’ largest company by revenue, will acquire 49 percent stakes in Philippine Airlines and Air Philippines for $500 million.
9. U.K. oil explorer Cairn Energy (CNE:LN) is paying $450 million for Agora Oil & Gas, a Norwegian company owned by RIT Capital Partners and financier Jacob Rothschild, to expand in the North Sea.
10. A Ruyao bowl that dates from 1086 to 1106 sold for $26.7 million at a Sotheby’s (BID) event, setting an auction record for Song Dynasty ceramics.