ArcelorMittal Divests Stake, Multiple Bidders Possible for Amarin: Merger and Acquisitions Update
The steel producer ArcelorMittal (NYSE:MT) will divest its 50 percent interest in the South African manganese explorer Kalagadi Manganese for 3.9 billion rand, or $447 million. The move is a part of its program of selling off its non-core assets to pay down debt. The company, which comprises 6 percent of global steel production, announced on Thursday that it will sell its invstment to Mrs. Daphne Mashile-Nkosi or her nominee, which might be a consortium of shareholders from Kalahari Resources or other third parties.
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The Israeli generics drug producer Teva Pharmaceutical Industries (NYSE:TEVA) is said by Calcalist financial daily, to be the top bidder to purchase the Irish biopharmaceutical firm Amarin Corporation (NASDAQ:AMRN). The publication also reported that the United Kingdom’s AstraZeneca Group (NYSE:AZN) is considering a purchase of Amarin, whose current market value on Nasdaq stands at $1.6 billion. Spokespersons for both Teva and AstraZeneca declined comment.