- Pfizer slashes 2023 targets.
In other news:
- Microsoft completes the acquisition of Activision Blizzard.
- Albemarle abandons plans to buy Liontown.
- Lululemon Athletica joins the S&P500 instead of Activision Blizzard.
- Hapag-Lloyd expects three difficult years for the shipping industry (Welt am Sonntag).
- Apollo seeks to join consortium of investors in SAS airline, of which Air France-KLM is a member.
- SoftwareOne is courted by Bain Capital and Apax.
- Rite Aid files for Chapter 11 bankruptcy in the USA, but obtains substantial financial backing.
- Ferrari accepts crypto-currencies for car payments in the US.
The U.S. will take steps to prevent American chipmakers from taking advantage of a legal loophole to sell certain advanced semiconductors to China.
KKR and life sciences investor Flerie have created a platform to jointly invest in specialty pharmaceutical services.
- Ford Motor will temporarily suspend work on one of the three production shifts for its F-150 Lightning electric pickup at its Michigan plant, citing multiple constraints, including supply chain problems.
- Private equity firm Apollo Global Management is looking to join the consortium that Scandinavian airline SAS chose last week to end its bankruptcy proceedings.
- Illumina said on Friday that it would sell cancer test manufacturer Grail within 12 months, under the terms of a European Commission order, if the EU Court of Justice did not rule in its favor.
- Qatar's Sheikh Jassim bin Hamad al Thani has informed the Glazer family, which controls Manchester United, that he will not improve his takeover bid, which values the club at more than $6 billion, sources said. Rival buyer Jim Ratcliffe is offering to pay more than $1.5 billion for a 25% stake in the company.
- Australian lithium producer Liontown Resources said that U.S.-based Albemarle had withdrawn its $4.16 billion takeover offer.
- Vista Outdoor said Monday it would sell its sporting goods business to Czechoslovak Group for $1.91 billion in an all-cash transaction.