Global Glance: ChemChina, Sygenta deal makes headway; Pfizer buying Medivation

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Here are today’s top business headlines from across the nation and world:

ChemChina says US security panel clears Syngenta acquisition

BEIJING (AP) — China National Chemical Corp. said Monday a U.S. national security panel has cleared its proposed acquisition of Swiss agrochemicals giant Syngenta. The $43 billion acquisition still requires approval from anti-trust and other regulators in the United States and other countries, the state-owned company, also known as ChemChina, said in a two-sentence statement. If completed, the deal would be the biggest foreign acquisition to date by a Chinese company. Shares in Syngenta jumped over 11 percent to 423 Swiss francs on Monday’s news of the security clearance. Read more

Pfizer buying Medivation in deal valued at about $14B

NEW YORK (AP) — Pfizer will pay about $14 billion in cash for the cancer drug company Medivation, a deal that will add the pricey late-stage prostate cancer treatment Xtandi to its oncology portfolio. The New York drugmaker said Monday that it will pay $81.50 per Medivation share. That’s a 21 percent premium to the San Francisco biotech’s Friday closing price of $67.19. Medivation Inc. and the Japanese drugmaker Astellas Pharma jointly market Xtandi, with Astellas selling the drug outside the U.S. Read more

Italy brings German, French heads to EU symbolic birthplace

VENTOTENE, Italy (AP) — The leaders of Italy, France and Germany are heading to one of the symbolic birthplaces of European unity to chart the path forward following Britain’s decision to leave the EU. Economic growth, improved security and new job options for European young people are among the topics expected to be discussed. Read more

VW urged to solve supplier dispute as plants affected

BERLIN (AP) — A legal dispute between Volkswagen and two suppliers has forced the carmaker to suspend production of some models, affecting nearly 28,000 workers and drawing calls from the German government for a quick solution. Volkswagen said last week that it would have to suspend production of the Golf and Passat at the Wolfsburg and Emden plants in Germany for around a week because the suppliers weren’t delivering parts. On Monday, the company put at 27,700 the number of workers affected by the dispute at six plants in Germany. It said it was “making arrangements for various flexibilization measures extending as far as short-time work.” Read more

Divided America: Diverse millennials are no voting monolith

The oldest millennials (AP) — nearing 20 when airplanes slammed into New York City’s Twin Towers – are old enough to remember the relative economic prosperity of the 1990s, and when a different Clinton was running for president. The nation’s youngest adults – now nearing 20 themselves – find it hard to recall a reality without terrorism and economic worry. Read more

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