M&A News: Actavis, Verizon Wireless, Commerzbank, Itau Unibanco, China Galaxy

Noteworthy expenditures of the week

M&A News: Actavis, Verizon Wireless, Commerzbank, Itau Unibanco, China Galaxy
A generic drugmaker rejects a rival???s bid; Verizon Wireless???s $7 billion dividend; and more (Alamy(2); AP Photo; Getty)
Alamy(2); AP Photo; Getty

1. Actavis rejected a $15 billion cash-and-stock offer from fellow generic drugmaker Mylan to pursue a takeover of Warner Chilcott, say people familiar with the matter.

2. Verizon Wireless, the mobile-phone joint venture of Verizon Communications and Vodafone Group, plans to pay a $7 billion dividend to its co-owners. Verizon will get $3.85 billion and Vodafone $3.15 billion.

3. Germany’s Commerzbank will raise $3.3 billion by selling shares to help repay debt from its government bailout.

4. Latin America’s No. 1 bank by market value, Itaú Unibanco Holding, is buying Citigroup’s Credicard unit for $1.4 billion, gaining an additional 10 percent share of Brazil’s card market.

5. China Galaxy Securities, a brokerage controlled by the country’s sovereign wealth fund, raised about $1.1 billion in a Hong Kong IPO, say two people with knowledge of the matter.

6. China XD Group, a state-controlled power-equipment maker, is in talks to buy Prolec GE Internacional for as much as $1 billion, say three people with knowledge of the discussions.

7. In hopes of persuading shareholders to spurn a takeover bid by Royalty Pharma, Elan will pay GlaxoSmithKline $1 billion for a 21 percent share of future royalties from four Theravance respiratory drugs.

8. Constellium Holdco, a Dutch specialty aluminum-product maker controlled by Apollo Global Management, plans to raise as much as $422 million in an IPO.

9. ATK, a maker of aerospace and defense products, will pay $315 million for Caliber Co., parent of Savage Sports, a maker of hunting rifles and shotguns.

10. The winning bid for an hour-long coffee date with Apple CEO Tim Cook closed at $610,000, more than 12 times the charity event’s pre-auction estimate of $50,000.

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