>>> Prosensa(RNA) : To be acquired by BioMarin for $17.75/shr

To be acquired by BioMarin for $17.75/shr (total up front consideration of approximately $680M) In addition, two approximately $80 million contingent milestones are payable for the approval of drisapersen in the U.S. no later than May 15, 2016 and Europe no later than February 15, 2017, respectively.

Under the terms of the definitive agreement, BioMarin will offer to acquire all of Prosensa's issued and outstanding ordinary shares and all ordinary share equivalents in an all cash transaction for $17.75 per share for an upfront purchase price of approximately $680 million. Prosensa shareholders may also receive two regulatory milestone payments of approximately $80 million for receiving approval in the U.S. no later than May 15, 2016 and in Europe no later than February 15, 2017, respectively. In addition, within 5 business days of signing the purchase agreement BioMarin will purchase from Prosensa a $50 million convertible note. If the transaction fails to close for any reason, the note will automatically convert into 4,395,914 shares of Prosensa's stock.

The transaction is expected to be accounted for as a business combination. BioMarin will maintain operations at Prosensa's headquarters, based in Leiden, The Netherlands and integrate Prosensa personnel from that office. 

BioMarin will effect the transaction primarily through a tender offer for all of the issued and outstanding Prosensa ordinary shares (the "Offer") and expect to close in the first quarter of 2015. The commencement of the Offer will be subject to having obtained workers council advice, and the consummation of the Offer is subject to the satisfaction of customary closing conditions for a transaction of this nature, including the tender of at least 80% of the issued and outstanding Prosensa ordinary shares and the receipt of regulatory clearance. Following completion of the Offer, the Supervisory Board of Prosensa will consist of five individuals designated by BioMarin and two individuals who currently serve on the Supervisory Board of Prosensa, who will act as independent directors. The two independent directors will, in accordance with Dutch practice, act as independent supervisory directors to protect the interest of any minority shareholders until BioMarin utilizes certain available reorganization structures available under Dutch law to acquire full ownership of Prosensa's outstanding shares and/or its business. An Extraordinary General Meeting will be convened in connection with the Offer and to adopt, among other things, certain resolutions relating to the reorganization of Prosensa.

>>> Metso - Received its largest ever pulp industry valve order from PT OKI Pulp

Received its largest ever pulp industry valve order from PT OKI Pulp & Paper Mills in Indonesia 

Metso will supply several thousand valves with accessories and spare parts for PT OKI Pulp & Paper Mills, located in Southern Sumatra, Indonesia. The order is Metso's largest ever flow control products delivery for a pulp and paper industry customer. When commissioned during 2016, the new plant will be the biggest single pulp plant in the world.

The extensive delivery consists of valves for control and on-off use, including segment, ball, butterfly and standard and severe service globe valves complemented with intelligent valve controllers.

>>> Novo Banco's initial balance sheet ready for potential buyers in December

Novo Banco's initial balance sheet ready for potential buyers in December 

Novo Banco, formerly Banco Espirito Santo, will have its initial balance sheet available next month for potential buyers to evaluate, Diario de Noticias reported.

Sources close to the process told the Lusophone paper that PwC is auditing Novo Banco and it is expected the bank's initial balance sheet will be finalized next month and made available to potential new investors in the bank, which was recapitalized to the tune of EUR 4.9bn in August after the collapse of BES.

Novo Banco suitors have not yet expressed interest in acquiring stakes in the bank as its start-up balance sheet is not known, the sources said. Once these assets and liabilities of Novo Banco are made public, it will be able to undergo a ECB stress test. Bank of Portugal (BdP) says it expect to receive binding offer for Novo Banco by the middle of 2Q15, the report said.

Elsewhere, Jornal de Negocios cited a BdP statement that said a dossier with information on Novo Banco for potential investors should be ready by early in the New Year.
Diario de Noticias, Jornal de Negocios

FT : Italy regional elections deliver warning to Renzi

Regional elections in Italy delivered warning signs for Matteo Renzi, the country’s reform-minded prime minister, even as candidates from his centre-left Democratic party comfortably won contests in Emilia-Romagna in the north and Calabria in the South.
There was a sharp decrease in voter turnout, signalling growing apathy and indifference towards politics among Italians battered by six years of economic crisis, and – in Emilia-Romagna, traditionally a stronghold of left-wing politics – a surge in support for the anti-immigrant, anti-euro Northern League.

Since taking control of the Italian government last February as a result of an intra-party coup, Mr Renzi, the 39-year-old former mayor of Florence, has benefitted from very high approval ratings that translated into sweeping gains in May’s elections for the European parliament.
But support for Mr Renzi and his party have dropped this autumn, as the Italian premier pressed parliament to approve contentious labour market reforms, clashing with trade unions and splitting his left-wing base. Meanwhile, disappointing economic data showed Italy is continuing to experience declining gross domestic product and high unemployment, and impatience with the lack of improvement among Italians may be growing.
Mr Renzi held campaign rallies both in Emilia-Romagna and Calabria last week ahead of the vote, the first concrete test of his party’s strength since the European elections. Because Mr Renzi’s reform agenda is so sweeping – including changes to the electoral and legislative process as well as economic reforms – and harmful to many entrenched interests, continuing public support is even more critical than usual to his political future.
“Turnout was poor, but the results were good: it was a clear 2-0 win,” Mr Renzi tweeted early on Monday morning after the votes were counted.
Stefano Bonaccini, the centre-left candidate supported by Mr Renzi in Emilia-Romagna, prevailed with 49 per cent of the vote compared with 29.9 per cent for Alan Fabbri, the centre-right’s choice to lead the region. But turnout in the affluent region of 4m people centred around Bologna plummeted to just under 38 per cent from around 70 per cent in the European elections and in the last regional election in 2010.
Meanwhile, support for Mr Fabbri’s anti-immigrant, anti-euro Northern League surged to nearly 20 per cent from 5 per cent in the European elections. Matteo Salvini, the leader of the Northern League, was ebullient. “The Renzi balloon is deflating. The league is flying high. Our community is growing everywhere with few friends among the powerful and many among the people,” Mr Salvini tweeted.
The surge of the Northern League is mitigated by the decline in the Five Star Movement, the protest movement led by comedian Beppe Grillo, which won 13 per cent of the vote in Emilia-Romagna on Sunday compared to 19 per cent in the European elections.
In Calabria, the Five Star Movement experienced an even sharper slump, to just 4.8 per cent on Sunday from 21.5 per cent in the European elections. In the southern region, Mario Oliverio, the centre-left’s candidate supported by Mr Renzi, took 61.6 per cent of the vote, compared with 23.6 per cent for Wanda Ferro, the centre-right’s candidate.
Across both regions, Forza Italia, the leading centre-right party founded by the scandal-prone former prime minister Silvio Berlusconi, showed few signs of revival, suggesting it could be a long time before it re-emerges as a powerful opposition with a real chance of challenging the government. Forza Italia’s fortunes took a dive after Mr Berlusconi was forced out of office at the height of the eurozone crisis in 2011, partly because its founder failed to groom any successors.

(BFW) FCC’s Koplowitz Negotiating Exclusively With Slim on Stake

BN 11/24 07:26 *FCC SAYS NEGOTIATING EXCLUSIVELY WITH CARLOS SLIM
BN 11/24 07:26 *FCC SAYS NO AGREEMENT WITH SOROS ON INVESTMENT
FCC’s Koplowitz Negotiating Exclusively With Slim on Stake
2014-11-24 07:32:22.865 GMT


By Katie Linsell
Nov. 24 (Bloomberg) -- Koplowitz’s B1998 holding co. ended
talks with George Soros without reaching agreement, now in
exclusive negotiations with Carlos Slim’s Inmobiliaria Carso SA
de CV, FCC says in regulatory filing.
* Koplowitz looking to sell her rights to acquire new shares
in FCC capital increase

Link to Company News:{1109283Z MM <Equity> CN <GO>}
Link to Company News:{FCC SM <Equity> CN <GO>}

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To contact the reporter on this story:
Katie Linsell in Madrid at +34-91-700-9631 or
klinsell@bloomberg.net

To contact the editor responsible for this story:
Ben Sills at +34-91-700-9603 or
bsills@bloomberg.net

(BFW) *BLUESTAR ELKEM WILL PURCHASE REC SOLAR AT NK108.50/SHR

BFW 11/24 07:32 *BLUESTAR ELKEM WILL PURCHASE REC SOLAR AT NK108.50/SHR
BN 11/24 07:32 *REC SOLAR: FUNDS HOLDING 20.2% TO VOTE IN FAVOR OF DEAL AT EGM
BN 11/24 07:31 *REC SOLAR ASA SAYS CASH BUY NK 108.50 PER SHR
BN 11/24 07:31 *REC SOLAR BOARD UNANIMOUSLY TO RECOMMEND TRANSACTION
BN 11/24 07:31 *REC SOLAR SAYS TOTAL CASH CONSIDERATION IS NK4,340 MLN
BN 11/24 07:30 *REC SOLAR SAYS TOTAL CASH CONSIDERATION NK4.34B
BN 11/24 07:30 *BLUESTAR ELKEM WILL PURCHASE REC SOLAR AT NK108.50/SHR
BN 11/24 07:30 *REC SOLAR : TOTAL CASH CONSIDERATION IS NK4,340M
BN 11/24 07:30 *REC SOLAR ANNOUNCEMENT OF PACT OF SALE OF BUSINESS OF REC SOLAR
REC Solar ASA: Announcement of agreement of sale of the business of REC Solar ASA to Bluestar Elkem Investment Co. Ltd. (Hong
2014-11-24 07:30:24.699 GMT

REC Solar ASA: Announcement of agreement of sale of the business of REC Solar
ASA to Bluestar Elkem Investment Co. Ltd. (Hong Kong)

Oslo/Hong Kong 24 November 2014 - REC Solar ASA ("REC Solar" or the
"Company"), acting through a subsidiary,  has reached an agreement with
Bluestar Elkem Investment Co. Ltd. (Hong Kong) ("Bluestar Elkem"), whereby
Bluestar Elkem will purchase 100% of the shares in a Luxembourg company (to be
established) which will own REC Solar Holdings AS and all of the assets and
liabilities of REC Solar at a cash purchase price equal to NOK 108.50 per
share in REC Solar (the "Transaction").

The Transaction represents a premium of 22.6 % and 27.1% to the 1 and 3-month
volume weighted average share price, respectively. The total cash
consideration is NOK 4,340 million.

The Transaction is subject to approval by an extraordinary general meeting of
REC Solar, expected to be held no later than 16 January 2015 (the "EGM").

The Board of Directors of the Company has unanimously resolved to recommend
the Transaction to its shareholders. Further, Datum AS, Ferncliff Listed DAI
AS, Ferncliff TIH 1 AS, Gross Management AS, QVT Fund IV LP I, QVT Fund V LP
I, Quintessence Fund LP and Dallas Asset Management AS, holding a total of
20.2% of the outstanding shares of the Company, have on certain conditions
entered into undertakings not to sell any shares before the EGM and to vote in
favor of the Transaction at the EGM. Ferncliff Listed DAI AS, Ferncliff TIH 1
AS, and Gross Management AS are controlled by Øystein Stray Spetalen, a board
member and primary insider of the Company and Dallas Asset Management AS is
controlled by Jan Christian Opsahl, a board member and primary insider of the
Company.

Ole Enger, the Chairman of REC Solar, comments: "This proposed Transaction is
a result of an extensive and broadly marketed process where the Company has
explored opportunities to maximize value for shareholders. We are pleased that
we today are in position to announce the combination of the Elkem Group and
REC Solar. The Board of Directors of REC Solar views the combination as a
positive outcome for the Company, its excellent workforce and other
stakeholders, and we look forward to working with the Elkem Group to complete
the Transaction. The Board believes that a combination with the Elkem Group
will provide a strong platform to further develop REC Solar."

Helge Aasen, the CEO of Elkem AS, comments: "The Elkem Group has a strategic
goal to grow its presence in the solar industry. The ambition is to establish
a leading integrated PV player. The Elkem Group and REC Solar have developed a
strong business relationship and there is a good strategic match between the
companies ensuring that a combined entity will have a strong basis for further
development of the business by leveraging REC Solar's leading global brand,
strong distribution channels and reputation for quality."

The Transaction is not subject to any financing condition, but is subject to
other customary conditions including all required regulatory approvals. REC
Solar has undertaken not to actively solicit offers from third parties which
would compete with the Transaction, and has accepted a cost coverage fee of
USD 10 million if the Board of the Company changes its recommendation of the
Transaction and the Transaction is not completed due to a superior offer. The
Transaction is expected to be completed in March/April 2015. The Board of
Directors of REC Solar expects thereafter to delist and liquidate the Company
and return all cash, net of transaction costs, to shareholders.

Nomura International plc is acting as financial advisor to REC Solar in
connection with the Transaction. Cipriano AS is acting as strategic advisor to
REC Solar in connection with the Transaction. Advokatfirmaet Schjødt AS is
acting as legal advisor to REC Solar in connection with the Transaction.

REC Solar has entered into an agreement with the Chairman of the Board, Ole
Enger, regarding his services related to the transaction, as approved by the
Company's general meeting on 29 November 2013.

DNB Markets is acting as financial advisor to Bluestar Elkem in connection
with the Transaction. Thommessen is acting as legal advisors to Bluestar Elkem
in connection with the Transaction.

A press conference will be held today at 1300 CET at Hotel Continental at
Stortingsgaten 24/26, 0117 Oslo. Please see www.recgroup.com for webcast
streaming details.  Representatives for both REC Solar ASA and Elkem Group
will participate.

For further information, please contact;

Mr. Ole Enger, Chairman of the Board of Directors
Telephone: +47 911 38 223
Email: ole.enger@recgroup.com

Mr. Kim Boman, Investor Relations
Telephone: +47 959 63 912
Email: kim.boman@recgroup.com

About Elkem Group

Elkem is one of the world's leading companies for environment-friendly
production of materials. Its principal products are silicon, solar grade
silicon, special alloys for the foundry industry, carbon products and
microsilica. Elkem has 14 production facilities in Europe, North and South
America, Africa and Asia, as well as an extensive network of sales offices and
agents covering the most important markets. The Elkem Group employs about
2,100 people. Operating revenues for the Elkem Group in 2013 were NOK 7.9
billion. Find out more about Elkem at www.elkem.com

About REC Solar ASA

REC Solar ASA is a leading global provider of solar energy solutions. With
more than 15 years of experience, REC Solar ASA offers sustainable, high
performing products, services and investments for the solar industry. Together
with its partners, REC Solar ASA creates value by providing solutions that
better meet the world's growing energy needs. REC Solar ASA is headquartered
in Norway and listed on the Oslo Stock Exchange (ticker: RECSOL). REC Solar
ASA's 1,700 employees worldwide generated revenues of USD 647 million in 2013,
with total assets of USD 450 million as per 31 December 2013. REC Solar ASA's
board of directors consists of Ole Enger (Chairman), Øystein Stray Spetalen,
Jan Christian Opsahl, Anne Lise Meyer and Mimi Berdal. Martin Cooper is the
company's CEO. Find out more about REC at www.recgroup.com.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

(BFW) *GEVERAN BUYS SHRS IN NORWEGIAN PROPERTY AT NOK10-SHR, PLANS BID

BFW 11/24 07:15 *GEVERAN BUYS SHRS IN NORWEGIAN PROPERTY AT NOK10-SHR, PLANS BID
BN 11/24 07:14 *GEVERAN BUYS ~25.6M NORWEGIAN PROPERTY SHRS AT NK10/SHR
BN 11/24 07:13 *GEVERAN TO MAKE NORWEGIAN PROPERTY MANDATORY OFFER WITHIN 4 WKS
BN 11/24 07:13 *GEVERAN INCREASES STAKE IN NORWEGIAN PROPERTY TO ~37.5%
BN 11/24 07:13 *GEVERAN TO MAKE MANDATORY OFFER FOR NORWEGIAN PROPERTY SHARES
BN 11/24 07:11 *NPRO - STAKE DISCLOSURE, NOTIFICATION OF MANDATORY OFFER
NPRO - SHAREHOLDING DISCLOSURE AND NOTIFICATION OF MANDATORY OFFER
2014-11-24 07:11:56.965 GMT



Geveran Trading Co Ltd ("Geveran"), which is
indirectly controlled by trusts established by John
Fredriksen for the benefit of his immediate family,
has on 21 November 2014 purchased 25,633,104 shares
in Norwegian Property ASA ("Norwegian Property") at a
price of NOK 10 per share. As a result, Geveran's
ownership in Norwegian Property has increased to
205,910,242 shares, constituting 37.54 per cent of
the shares and votes in the company. Geveran does not
hold other rights to shares in Norwegian Property.

Geveran will make a mandatory offer for the remaining
shares in Norwegian Property within four weeks, in
accordance with Chapter 6 of the Norwegian Securities
Trading Act. Geveran is represented on the board of
directors of Norwegian Property.

This information is subject to the disclosure
requirements set out in sections 4-2, 4-3 and 6-8 of
the Norwegian Securities Trading Act.

http://www.newsweb.no/index.jsp?messageId=365770

-0- Nov/24/2014 07:11 GMT