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Bristol-Myers Squibb (NYSE:BMY) has agreed to buy Inhibitex (NASDAQ:INHX) for $2.5 billion as it looks to boost its pipeline ahead of the loss of patent protection for its blood thinner Plavix. The $26/share bid is over double Inhibitex’s $9.87 close on Friday. Its main drug, for hepatitis C, is only in mid-stage trials.
Lions Gate (NYSE:LGF) is reportedly close to a deal to buy privately held Summit Entertainment for around $400 million in cash and stock. Summit has been very successful in teen market with its production of the “Twilight” movies and Lions Gate is trying to enter the teen market as well.
Investing Insights: Alcoa Inc. Earnings: Margins Shrink as Costs Rise.
Jones Group (NYSE:JNY) intends to maintain its ownership of its jeanswear division. It has ended all discussions over its potential sale, but had announced talks in October to sell the operations to Israel’s Delta Galil (DELTY.PK) for $350-400 million.
Lloyds (NYSE:LYG) is in talks to sell its operations in the United Arab Emirates or UAE, with Abu Dhabi Commercial Bank a leading contender to buy the business, Reuter’s reports. The operations assets totaling $1.66 billion in 2010, and this speculation comes as Lloyds CEO Antonio Horta-Osorio returns after a two-month medical leave of absence to work.
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