Wall Street Breakfast: Must-Know News
Wall Street Breakfast Editors submit:Asahi Kasei buys Zoll Medical. Japan's Asahi Kasei Corp. agreed to buy Zoll Medical Corp. (ZOLL) for $2.21B, or $93/share, a 24% premium over Zoll's Friday closing price. Asahi Kasei, Japan’s leading diversified chemical manufacturer, sees emerging demand for healthcare as a strategic sector for the company in the future. Youku, Tudou merge. Youku.com (YOKU) will merge with Tudou Holdings (TUDO) in an all-stock swap, creating a major online video provider. Of the combined entity, which will be named Youku Tudou Inc., Youku holders will get 71.5% and Tudou holders get 28.5%. Premarket: YOKU -4.8%, TUDO +127.4% (7:00 ET). India adjusts cotton policy, again. India continues to flip-flop on cotton, saying today it will now prohibit fresh cotton exports and permit only quantities already registered but not shipped. The trade ministry unexpectedly banned all cotton exports on March 5, then lifted the restriction on Sunday. Muted reaction from cotton futures,Complete Story »
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