AstraZeneca on Monday rejected Pfizer’s “final proposal” buyout offer of $117 billion. Shares of the British drug giant dived as investors seemed to lose hope that the merger of titans would ever take place. Pfizer (PFE) first revealed on April 28 that AstraZeneca (AZN) had rejected a proposal early this year, and a few days later made a higher bid of 50 British pounds per share, or about $106 billion. AstraZeneca turned Pfizer down
Chinese online beauty products retailer Jumei International (JMEI) put on its best face Friday for its initial public offering, setting the stage for bigger Chinese e-commerce IPOs to come. Business-to-consumer sales via the Internet are growing about 70% annually in China, according to Bain & Co. E-commerce in the nation, the world’s most populous, is booming with the maturation of the Internet. China now has about 617.6 million
The Federal Communications Commission moved Thursday toward reclassifying broadband Internet services as a public utility, aiming to recoup regulatory authority after two federal court rulings that the agency had overreached in enforcing “net neutrality.” Chairman Tom Wheeler’s sudden decision overshadowed the FCC’s proposal to let broadband Internet service providers (ISPs) charge content companies for faster Web delivery to