Acquisition in the health sector. Bristol-Myers Squibb is acquiring Myokardia for $13.1 billion in order to develop its heart disease treatment business and reduce its dependence on anti-cancer drugs.
Strategic review. Coca-Cola announced today its intention to exit the Zico brand within a few months, noting that several other products, including Coke Life, are currently undergoing a strategic review.
A merger in payments. The two Italian payment leaders, Nexi and SIA, are going to merge through a share transaction. The new company, 70% owned by Nexi shareholders, will be worth €15bn and generate €1.8bn in revenues and €1bn in Ebitda. The sector is therefore continuing its consolidation after the collapse of Wirecard and the merger between Worldline and Ingenico.
Black screen. Cineworld will close all its theatres in the US, UK and Ireland, according to information obtained by the Sunday Times, due to the postponement of major film releases. The group employs 37,500 people and operates approximately 800 sites.
Tesla will soon to be in India. Tesla could start operating in India as early as 2021, according to Elon Musk. Initially, the manufacturer hoped to start in 2020, but the context did not allow to launch the project. The American has also announced the acquisition of German ATW Automation, a battery assembler.
In other news. The shareholders of Banca Monte Dei Paschi di Siena accept the principle of the creation of a "bad bank", necessary to accelerate its sale. Reuters has learned that Airbnb is expected to go public in December, hoping to raise $3 billion. NEC Corp. is buying the Swiss company Avaloq for the equivalent of €1.9 billion. Sales growth of 39.7% for Shop Apotheke in Q3. Dufry and Alibaba sign a joint venture in China. Yara and Orsted sign an agreement to produce "green ammonia" in the Netherlands.