Markets & Finance
M&A News: Japan Tobacco, Elan, Shell, Repsol, KKR, Gardner Denver
1. The Japanese government will sell a stake in Japan Tobacco, maker of Winston and Camel brand cigarettes, for about $10.3 billion to cover reconstruction costs from the country’s 2011 earthquake.
2. RP Management, a London investment firm, has offered to buy Elan (ELN) for about $6.5 billion, challenging the Irish drugmaker’s plan to embark on its own acquisitions.
5. Russian billionaires Zelimkhan Mutsoev and Gavril Yushvaev paid $3.6 billion for Mikhail Prokhorov’s 37.8 percent stake in Polyus Gold International (PGIL:LN), the country’s largest producer of the metal.
9. France’s PPR (PP:FP) is selling two digital and catalog retailers of home goods and apparel that form part of its Redcats unit to a fund run by Swedish buyout firm Nordic Capital for $364 million.
10. A blood-stained sock worn by Boston Red Sox pitcher Curt Schilling in the 2004 World Series against the St. Louis Cardinals fetched $92,613 at auction.