>>> Kering - Board to approve share buyback of up to 10%

Board to approve share buyback of up to 10%

Maximum percentage of the share capital and maximum number of shares of Kering that may be purchased: 10% of the share capital (i.e., 12,627,932 shares as of April 28, 2016). Considering that the Company holds 65,000 of its own shares, the maximum number of shares which may be purchased amounts to 12,562,932 shares, representing 9.95 % of the share capital.

>>> TNTE - China govt unconditionally approves FedEx intended acquisition of TNT

China govt unconditionally approves FedEx intended acquisition of TNT Express 

FedEx Corporation (FedEx) (NYSE:FDX), FedEx Acquisition B.V. (the Offeror) and TNT Express N.V. (TNT Express) jointly announce that on April 29, 2016, they obtained the unconditional approval of the Ministry of Commerce Peoples Republic of China (MOFCOM) in connection with the Offer.

With the approval of MOFCOM, the Offer Condition with respect to Competition Clearances has now been fulfilled. Shareholders are reminded that in accordance with the dispensation (ontheffing) granted by the AFM and the joint press release dated 8 January 2016, the Acceptance Period shall end at 17:40 hours CEST (11:40 hours New York time) on 13 May 2016 (the Acceptance Closing Time).

FedEx CEO: "I want to thank the team members who collaborated with regulatory authorities around the world to help us reach this important acquisition milestone. As we work towards closing the acquisition, we look forward to welcoming TNT Express team members to the FedEx family of companies as we expand our portfolio of solutions and connect even more people and possibilities."

TNT CEO: "With this final regulatory approval, we are one step closer to making the vision of combining the complementary networks of FedEx and TNT Express a reality. This intended acquisition will bring value for our customers, shareholders and employees."

>>> Sanofi comments on Medivation's rejection of proposal; remains committed to

Sanofi comments on Medivation's rejection of proposal; remains committed to combination 

Combining Sanofi and Medivation represents a compelling strategic and financial opportunity to drive immediate and certain value for Medivation's shareholders while benefiting patients and both companies' respective stakeholders. Sanofi's all-cash proposal represents over a 50 percent premium to Medivation's two-month volume weighted average trading price (VWAP) prior to takeover rumors. 

Sanofi is a disciplined acquirer and has a strong acquisition track-record. While to date Medivation has chosen not to enter into discussions regarding this value-creating transaction, Sanofi remains committed to the combination and looks forward to engaging directly with Medivation shareholders with regard to our proposal.

>>> France's Casino considers taking CNova private, source says - Reuters News

France's Casino considers taking CNova private, source says - Reuters News

29-APR-2016 14:56:15
By Guillermo Parra-Bernal

SAO PAULO, April 29 (Reuters) - French retailer Casino Guichard Perrachon SA is considering taking CNova NV private as the best option prior to a planned absorption of the underperforming e-commerce unit, a source with direct knowledge of the matter told Reuters on Friday.

Under the plan, Casino CASP.PA would buy out minority shareholders in CNova CNV.O, which would subsequently be split into three separate units located in France, Brazil and Colombia, said the source, who requested anonymity because the structure of the transaction is under discussion.

CNova's French unit CDiscount would be absorbed by Casino's French business, while Nova.com, as CNova's Brazilian section is known, would be merged into Via Varejo SA, Casino's appliance and consumer electronics unit in the country, the source added.

Casino listed CNova on Nasdaq in November 2014. On Thursday, CNova said that a merger of its Brazilian unit with Via Varejo VVAR11.SA is being reviewed. FWN17V19G

According to the source, Casino would fund the buyout with proceeds from the $1.1 billion sale of a Vietnamese grocery chain to Thai billionaire Charoen Sirivadhanabhakdi's TCC Holding Co, which was announced on Friday. Casino has this year raised almost $4.5 billion from asset sales in Asia to reduce debt. (Full Story)

The Paris-based media office for Casino did not have an immediate comment.

About 6 percent of CNova's 441 million shares are publicly traded on the Nasdaq market, making it relatively cheap for Casino to delist the unit, the source said. Based on current prices, the value of a delisting could be about $100 million.

CNova has a market value of about $1.46 billion, with between 40 percent to 45 percent being attributed to the Brazilian business, the source added.

Casino, based in the French city of St-Etienne, took Cnova public in its drive to create an e-commerce pure-play that could fund the expansion of its direct-sales business and marketplaces amid thriving global prospects for the sector.

The IPO priced CNova at $7 a share, helping the French retailer raise a net $190 million at the time. The price came in below Casino's target of $12.50 to $14 for the stock.

That year, rival China's Alibaba Group Holding Ltd broke a global record after fetching $25 billion in an initial public offering.