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Markets & Finance

Johnson & Johnson Agrees to Acquire Scios

Johnson & Johnson (JNJ) agrees to acquire Scios (SCIO) for about $2.4 billion, or $45 per share, to boost its drug pipeline. Scios' key product is Natrecor, a treatment for congestive heart failure, and it is also working on an oral drug for rheumatoid arthritis. (2/10)

SBC Communications (SBC) is reportedly in talks to bid for Hughes Electronics (GMH), the owner of satellite broadcaster DirectTV. News Corp. (NWS) has been pursuing a deal to take over Hughes for the last three years or so. Late last year, the proposed $18 billion deal between Hughes and EchoStar Communications (DISH) was cancelled when regulators blocked it. (2/10)

Roche Holding (RHHBY) says it plans to buy Disetronic Holding AG, the world's second-largest maker of insulin pumps, in a deal valued at 1.6 billion Swiss francs ($1.18 billion). (2/10)

BP PLC (BP) is in talks to invest as much as $4.5 billion in a Russian oil company that would be formed from the merger of three companies, reports the Wall Street Journal. The proposed deal would bring together Siberian oil producer OAO Sidanko, which BP currently owns 25%, and two other oil companies owned by TNK International, according to the newspaper. (2/10)

Bethlehem Steel will sell its steel mills to International Steel Group Inc. for $1.5 billion. The deal could bring Bethlehem Steel out of bankruptcy and create the nation's biggest steelmaker. (2/10)

Insignia Financial Group (IFS) says it is in talks with CBRE Richard Ellis Inc. about a proposed business combination. (2/7)

Legato Systems (LGTO) shares rose on a report LGTO supposedly hired an investment bank to advise it on a potential sale of the company, says S&P. (2/7)

Tech Data (TECD) says it has offered to acquire Britain-based Azlan Group PLC for approximately $235 million (British pounds 142 million). (2/6)

SunGard Data Systems (SDS) agrees to buy HTE Inc (HTEI) for $7 per HTEI share, or about $121 million. (2/5)

Pennichuck (PNNW) terminates its merger agreement with Philadelphia Suburban Corp. (PSC). (2/5)

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