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Thursday, September 3, 2015

Japan's NGK Insulators to pay $65.3 million over price-fixing, (NYSE: TM)

Japan's NGK Insulators Ltd has agreed to pay $65.3 million for fixing the prices of parts supplied to car makers and plead guilty to criminal charges, the U.S. Justice Department said on Thursday.The charges include obstruction of justice, based on attempts to stymie the Justice Department probe by destroying or changing documents, the government and the company said.The conspiracy ran from about 2000 to 2010, with parts sold to General Motors Co, Toyota Motor Corp and Nissan Motor Co Ltd, the government said. Japan's Nikkei reported that the Justice Department was expected to prosecute the company's former president and two others in connection with the price-fixing plea deal.

TOYOTA MOTOR CORPORATION is a Japan-based company mainly engaged in the automobile business and financial business. Shares of TM traded higher by 1.69% or $1.99/share to $119.61. In the past year, the shares have traded as low as $108.40 and as high as $145.80. On average, 290714 shares of TM exchange hands on a given day and today's volume is recorded at 352543.



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B&G to purchase General Mills' Green Giant frozen foods business, (NYSE: BGS)

Snack food company B&G Foods Inc said it would purchase General Mills Inc's Green Giant frozen foods and Le Sueur canned vegetables brands for about $765 million to expand its distribution network and enter the frozen foods market.Shares of B&G, which expects the deal to add to earnings immediately, rose as much as 14 percent to a 14-month high on Thursday.Growth in the frozen vegetables category has been sluggish in recent years as consumers shift to fresher items. This has led to companies scaling back marketing spend on frozen foods. B&G plans to double the amount General Mills has been spending on marketing the Green Giant brand, B&G Chief Executive Robert Cantwell said on a conference call.

B&G Foods, Inc. (B&G Foods) is a holding company that manufactures, sells and distributes a range of shelf-stable food and household products across the United States, Canada and Puerto Rico. Shares of BGS traded higher by 12.09% or $3.68/share to $34.13. In the past year, the shares have traded as low as $27.03 and as high as $34.83. On average, 330909 shares of BGS exchange hands on a given day and today's volume is recorded at 1957829.



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Syngenta to sell vegetable seeds, buy back shares, (NYSE: SYT)

Swiss agricultural chemicals group Syngenta AG plans to purchase back more than $2 billion worth of stock to boost shareholder returns after rejecting a takeover approach from Monsanto Co, selling its vegetable seeds business to fund the measure.The world's largest pesticides company is under pressure to offer tangible rewards to shareholders after it turned its back last week on a cash-and-shares bid from unwanted U.S. suitor Monsanto worth $47 billion at the time.The Swiss group will part with the most profitable of its seeds businesses, which has gross profit margins of well above 60 percent compared with about 45 percent for all seeds last year, complicating its efforts to widen group margins. However, finance chief John Ramsay said a sale was the best way to exploit the strength of that business.

Syngenta AG (Syngenta) is an agribusiness operating in the crop protection, seeds and lawn and garden markets. Shares of SYT fell by 1.38% or $-0.95/share to $67.68. In the past year, the shares have traded as low as $58.72 and as high as $98.15. On average, 500947 shares of SYT exchange hands on a given day and today's volume is recorded at 435992.



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Japan Display CEO hints at strong Apple orders ahead of new iPhone launch, (NASDAQ: AAPL)

Japan Display Inc Chief Executive Mitsuru Homma on Thursday said the screen maker's "biggest client", widely understood to refer to Apple Inc , is increasing orders ahead of the expected launch of a new iPhone this month.Homma said weakness in China's smartphone market, the world's biggest, amid that country's broader economic slowdown did not appear to be affecting Apple's display orders."They're coming to us with more orders, saying 'give us more, give us more'. They keep increasing," he told Reuters in an interview. Apple Chief Executive Tim Cook last week reassured shareholders about the strength of the Chinese market for iPhones after a slump in China's stock market and the devaluation of the yuan rattled investors.

Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 4.29% or $4.62/share to $112.34. In the past year, the shares have traded as low as $92.00 and as high as $134.54. On average, 55289700 shares of AAPL exchange hands on a given day and today's volume is recorded at 61888812.



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Wednesday, September 2, 2015

Tesco prefers MBK's $6.6 billion bid for S.Korean business - sources, (NASDAQ: CG)

Tesco has picked private equity firm MBK Partners as preferred bidder to purchase its South Korean unit for as much as $6.6 billion, sources said, as the British supermarket retreats from overseas and focuses on revitalising its domestic business.The sale of Homeplus, its biggest overseas unit, would be the first large divestment by Tesco boss Dave Lewis. He is seeking to cut debt and lose the firm's "junk" credit rating status after its profits were battered by an accounting scandal and British market share losses to discounters Aldi and Lidl.In what would be the largest-ever private equity deal in Asia, MBK bid around 7.8 trillion won ($6.61 billion), one of the sources told Reuters. Another source, while not confirming the exact amount, said MBK's bid price had gone "higher than expected" as the bidding process continued.Seoul-based MBK, one of the largest Asia-based private equity firms, beat offers from a consortium of takeover firms Affinity Equity Partners and KKR & Co, as well as from Carlyle Group LP, people with direct knowledge of the process said.

Shares of CG fell by 1.39% or $-0.28/share to $19.88. In the past year, the shares have traded as low as $19.71 and as high as $33.28. On average, 880523 shares of CG exchange hands on a given day and today's volume is recorded at 322378.



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Wednesday, August 26, 2015

Temasek joins MBK in bid for Tesco's S. Korea business -sources, (NASDAQ: CG)

Singapore state investor Temasek Holdings (Private) Ltd has partnered Asia-focused private equity firm MBK Partners to bid for the South Korea arm of British supermarket operator Tesco PLC , two people familiar with the matter told Reuters.MBK has already entered the race for the business, valued at $6 billion. It is vying against Carlyle Group LP and a consortium comprising Affinity Equity Partners and KKR & Co , Reuters reported on Tuesday.. Temasek's latest interest in a consumer-sector deal comes more than a year after it bought almost a quarter of health and beauty retailer A.S. Watson, backed by Hong Kong tycoon Li Ka-shing, for about $5.7 billion in its single biggest investment.Temasek, which has 28 percent of its $197 billion portfolio in financial services, has been diversifying its portfolio in recent years, moving into consumer and life sciences.

Shares of CG traded higher by 3.73% or $0.76/share to $21.11. In the past year, the shares have traded as low as $19.71 and as high as $33.63. On average, 844317 shares of CG exchange hands on a given day and today's volume is recorded at 903616.



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