(BFW) *AGEAS SUSPENDED IN BRUSSELS TRADING AT REQUEST OF REGULATOR

BN 07/29 09:51 *AGEAS SUSPENDED IN BRUSSELS TRADING
BN 07/29 09:00 *DUTCH COURT SAYS SEPARATE PROCEDURE ON COMPENSATION AMOUNT
BN 07/29 08:56 *DUTCH COURT RULES IN CASE STARTED BY FORTISEFFECT, SHRHOLDERS
BN 07/29 08:54 *DUTCH APPEALS COURT COMMENTS ON FORTIS RULING ON WEBSITE
BN 07/29 08:53 *FORTIS LIABLE FOR MISLEADING COMMENTS IN 2008: DUTCH COURT
*AGEAS SUSPENDED IN BRUSSELS TRADING AT REQUEST OF REGULATOR
2014-07-29 09:51:40.620 GMT

--MARTIJN VAN DER STARRE

-0- Jul/29/2014 09:51 GMT

(BFW) Technip Has Quality at Discount, Positives Being Ignored: HSBC

Technip Has Quality at Discount, Positives Being Ignored: HSBC
2014-07-29 07:34:30.480 GMT


By James Cone
July 29 (Bloomberg) -- Technip showed at 2Q that it’s
operationally back on track, well positioned to outperform
challenged sector, but positives are being ignored, HSBC says in
note.
* HSBC: roadshow revealed co. better than EU20b record backlog
inferred; continues to take steps to improve cost base, has
competitive edge from early stage projects, technology
* Co. being selective on new work, order backlog though is
unlikely to change significantly
* Continues to see attractive risk/reward even with wider
industry, geopolitical uncertainties
* 2014/15 top line est. raised 3%/4%, EPS ests. cut 4% for
both yrs on onshore/offshore margin expectations;
2016/17 top line ests. up 10%/14% with EPS ests. raised
7%/15%
* Maintains overweight rating, PT unchanged at EU95; sees
return to premier rating, has attractive entry point

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To contact the reporter on this story:
James Cone in London at +44-20-7673-2572 or
jcone@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net

(BFW) Pfizer May Return for Astra, Which May Target Actelion: Citi

Pfizer May Return for Astra, Which May Target Actelion: Citi
2014-07-29 07:13:51.858 GMT


By Allison Connolly
July 29 (Bloomberg) -- Astra is still most attractive
target for Pfizer while Astra may pursue near-term acquisitions
such as Actelion, Citi says in note today.
* 25% chance of Pfizer returning for Astra after Aug. 26; will
need to offer at least >$60 to secure deal
* Still sees Dec. approach more likely and assumes
inversion window remains open for up to 18 months
* Sees asset swaps or JV around oncology business unlikely
to deter Pfizer
* Citi says Astra will pursue more near-term EPS accretive
deals, including potentially Actelion, to boost EPS, div.
cover
* A potential Actelion acquisition at ~$16b (25% premium)
could be up to 11% accretive to 2017 trough EPS; would
broaden core respiratory portfolio, improve div. cover
* Astra has ample financing given its current ~$3b-4b net
debt
* Maintains buy rating for Astra; lifts target price to 5,400p
vs 4,900p
* NOTE: Astra reports 2Q results on July 31 at 7am U.K.


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To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
Gaurav Panchal