NIBE Industrier AB (NIBEB) is offering 638 million Swiss francs ($702 million) for Schulthess Group (SGRN), the Swiss company said today in an e-mailed statement. The agreed offer is 60 percent in cash and 40 percent in shares, Schulthess said.
EQUITIES *Meyer Burger values Germany’s Roth & Rau at $515.8 million in agreed offer *Novartis halts Tasigna trial with newly diagnosedpatients *Novartis to cut debt before making large purchases, Blick says *Novartis amends U.S. application for Afinitor cancer drug *Strong franc hurt Swatch sales by SF150 Million, NZZ says *Former Sonova executives arrested April 7, Tages-Anzeiger says *Sawiris Alpine resort promotion halted, Tages-Anzeiger reports *Roche ordered to pay ex-Accutane user; jury denies two claims *Credit Suisse to cut 25 jobs at London equities unit *Oerlikon says Chairman Kuznetsov not to stand for re-election
ECONOMY/GOVERNMENT *ECB rate rise gives SNB room for maneuver, UBS’ Hoefert says *Swiss consulting banks on U.S. tax cases, SonntagsZeitung says
MARKETS *The SMI fell 0.1 percent to close at 6,457.93 *The SPI dropped less than 0.1 percent to close at 5,889.89 *The Stoxx Europe 600 Index rose 0.3 percent to 281.68 *The MSCI Asia-Pacific Index was up 0.1 percent at 136.63 as of 6:55 a.m. in Zurich *Euro -- Franc at 1.3093 as of 6.55 a.m. in Zurich
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