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Czechoslovak Group has increased its offer to acquire Vista Outdoor Inc.'s Kinetic Group ammunition unit to $2 billion in order to prevent a competing takeover. The revised agreement includes a cash consideration of $18 per share for Vista Outdoor shareholders, who would retain ownership of the rest of the company. The deal would allow Czechoslovak Group to add Remington and Speer bullets to its product offerings, while Vista Outdoor would focus on brands such as Bell bicycle helmets and Camelbak hydration products. The acquisition is subject to approval by shareholders and regulatory bodies. [Extracted from the article]

Czechoslovak Group has increased its offer to acquire Vista Outdoor Inc.'s Kinetic Group ammunition unit to $2 billion in order to prevent a competing takeover. The revised agreement includes a cash consideration of $18 per share for Vista Outdoor shareholders, who will retain ownership of the rest of the company, which will be renamed Revelyst Inc. The deal would allow Czechoslovak Group to expand its ammunition offerings and maintain a commitment to US workers and customers, while Revelyst would focus on brands such as Bell bicycle helmets and Camelbak hydration products. The deal is expected to be completed this year, pending clearance from the Committee on Foreign Investment in the United States. [Extracted from the article]

Sonoco Products Co. has agreed to acquire Eviosys, a packaging company, from KPS Capital Partners for approximately $3.9 billion. This acquisition will make Sonoco the leading global manufacturer of metal food cans and aerosol packaging. Eviosys has 6,300 employees across 17 countries and is expected to generate around $2.5 billion in revenue in 2024. The deal is expected to result in $100 million in synergies for Sonoco. Other recent deals in the packaging industry include International Paper Co.'s acquisition of DS Smith Plc and Smurfit Kappa Group Plc's acquisition of WestRock Co. Sonoco shares have fallen 3.7% in the past year. [Extracted from the article]

Sonoco Products Co., a US-based packaging maker, has agreed to acquire Eviosys, a European packaging company, from KPS Capital Partners for approximately $3.9 billion. The acquisition is expected to result in about $100 million in synergies from the combination of similar businesses. Eviosys operates in 17 countries with 44 manufacturing facilities and has around 6,300 employees. Sonoco estimates that Eviosys will generate revenues of about $2.5 billion in 2024. Eviosys was formed in 2021 when KPS acquired the Europe, Middle East, and Africa operations from Crown Holdings Inc. [Extracted from the article]

Britvic Plc, a UK beverage maker, has rejected multiple takeover offers from Carlsberg AS, the most recent of which was valued at £3.1 billion ($3.9 billion). The Britvic board turned down a proposal worth 1,250 pence a share, citing that it did not align with their interests. Carlsberg, a Danish brewer, expressed its interest in Britvic as part of its strategy to expand its portfolio beyond beer. The company is seeking new sources of growth after its assets were seized in Russia following the invasion of Ukraine. [Extracted from the article]

Honeywell International Inc. has reached an agreement to acquire CAES Systems, an aerospace and defense company, from Advent International for approximately $2 billion. The deal is expected to be announced on Thursday and is an all-cash transaction. CAES, formerly known as Cobham Advanced Electronic Solutions, develops electronic systems for aerospace and military purposes. Advent acquired CAES as part of its purchase of Cobham Plc in 2020. Honeywell shares traded slightly lower before the US markets opened. [Extracted from the article]

Honeywell International Inc. has agreed to acquire CAES Systems, an aerospace and defense company, from private equity firm Advent International for $1.9 billion in an all-cash deal. The acquisition is expected to be completed in the second half of this year and will strengthen Honeywell's presence in key defense programs, including the F-35 fighter jet. CAES, formerly known as Cobham Advanced Electronic Solutions, generated approximately $110 million in earnings last year and will bring around 2,200 employees to Honeywell. Honeywell's shares remained relatively unchanged following the announcement. [Extracted from the article]

(Bloomberg) -- Honeywell International Inc. has agreed to buy aerospace and defense company CAES Systems from private equity firm Advent International for roughly $2 billion, the Wall Street Journal reported.The all-cash deal is expected to be announced on Thursday, the newspaper said, citing people familiar with the matter.CAES was formerly known as Cobham Advanced Electronic Solutions. The company develops electronic systems for aerospace and military use.©2024 Bloomberg L.P.By Eric PfannerReported by Author [Extracted from the article]

GSK Plc, a UK pharmaceutical company, is selling its remaining stake in Haleon Plc for £1.25 billion ($1.6 billion), completing its separation from the consumer health company. The sale represents a roughly 4.2% holding in Haleon and will be conducted through a placing with institutional investors. GSK has been gradually selling down its stake in Haleon since the demerger and listing in 2022, with this latest sale bringing the total raised to nearly £4 billion. GSK's decision to shed the consumer health division was driven by pressure from activist investor Elliott Investment Management, allowing the company to focus on its pharma and vaccine businesses. Pfizer Inc., GSK's former partner in the consumer health business, is also reducing its stake in Haleon. [Extracted from the article]

GSK Plc, a pharmaceutical company, is planning to sell its remaining stake in Haleon Plc, a consumer health company, for approximately £1.28 billion ($1.62 billion). This sale will complete GSK's separation from Haleon. GSK has been gradually reducing its stake in Haleon since the demerger and listing in 2022. The sale is being conducted through a placing with institutional investors. GSK's decision to focus on its pharma and vaccine businesses was influenced by pressure from activist investor Elliott Investment Management. Pfizer Inc., GSK's former partner in the consumer health business, is also reducing its stake in Haleon. The offer price for GSK's sale will be determined through an accelerated bookbuild offering process. [Extracted from the article]

International Paper Co. has agreed to acquire UK rival DS Smith Plc for £5.8 billion ($7.2 billion), beating out competitor Mondi Plc and establishing itself as a global leader in the packaging industry. The deal is an all-stock agreement, with International Paper offering 0.1285 new shares for each DS Smith share. Upon completion, International Paper shareholders will own approximately 66% of the combined company. [Extracted from the article]

International Paper Co. has agreed to acquire DS Smith Plc for £5.8 billion ($7.2 billion), surpassing rival suitor Mondi Plc in the battle for the UK packaging company. The all-stock deal will create a global leader in packaging, with International Paper paying 0.1285 new shares of its stock for each DS Smith share. Upon completion, International Paper shareholders will own approximately 66% of the combined company, which will seek a secondary listing in London. This acquisition is part of a post-Covid consolidation trend in the paper and packaging sector, which experienced a surge in demand during the pandemic due to increased online shopping. DS Smith is one of the world's largest cardboard box makers and produces packaging for various products. [Extracted from the article]

Kering SA, the French luxury group, saw a significant drop in its shares after warning that sales at its Gucci brand have fallen by about 20% in the first quarter. The decline in sales is attributed to a loss of favor among Chinese shoppers for Gucci's brash look. Kering has been trying to revitalize the Italian label, which accounts for two-thirds of its profit, but has so far been unsuccessful. The warning has raised concerns about consumer spending and China's economy, as well as Kering's ability to compete with rivals like LVMH and Hermes. [Extracted from the article]

Kering SA, the French luxury group, has reported a 20% decline in sales at its biggest brand, Gucci, in the first quarter. This has caused Kering's shares to drop by 14% in early Paris trading, resulting in a loss of €7 billion euros ($7.6 billion) in market value. The decline in Gucci sales is attributed to a larger-than-expected decrease in the Asia-Pacific region, which has widened the gap between Kering and its stronger competitors. Kering has been struggling to revitalize Gucci, which accounts for two-thirds of its profit, while its rivals LVMH Moet Hennessy Louis Vuitton SE and Hermes International SCA have remained more resilient. The company plans to release quarterly revenue numbers on April 23. [Extracted from the article]

Kering SA, the parent company of Gucci, has issued a warning that Gucci's sales have dropped by approximately 20% in the first quarter due to a significant decline in the Asia-Pacific region. This has widened the gap between Gucci and its stronger competitors in the luxury fashion industry. Kering has been struggling to revitalize Gucci, which accounts for two-thirds of its profit, while other luxury brands like LVMH and Hermes have remained more resilient. The decline in Gucci's sales raises concerns about consumer spending and China's economy. Kering's overall comparable sales are expected to be down about 10% for the period. Gucci has been trying to attract more wealthy shoppers with a new designer and a more elegant aesthetic, but it remains to be seen if this will be successful, especially in China. The unexpected announcement from Kering is seen as a worrying signal for the luxury goods sector, and it has also affected the stock prices of other fashion companies like Prada. With a slow recovery in China, luxury companies are becoming more reliant on the US market, which is not favorable for Gucci as it is heavily exposed to the Asian market. Kering plans to release quarterly revenue numbers on April 23. [Extracted from the article]

Unilever's new CEO, Hein Schumacher, plans to separate the company's ice cream arm, which includes brands like Ben & Jerry's and Magnum, in an effort to boost growth and profits. The ice cream division had sales of €7.9 billion in 2023 but has a lower profit margin compared to other units. Schumacher also intends to cut 7,500 jobs, about 6% of Unilever's total workforce. The company aims to focus on four businesses: beauty and wellbeing, personal care, home care, and nutrition. The proposed separation of the ice cream business is expected to lead to mid-single digit growth in underlying sales and a modest margin improvement. [Extracted from the article]

Mondi Plc has agreed to acquire DS Smith Plc for £5.1 billion ($6.5 billion), creating one of the world's largest packaging companies. The deal, which is an all-stock agreement, represents a 33% premium compared to DS Smith's stock price on February 7. The merger is expected to result in cost savings and increased scale as the packaging industry consolidates. Mondi shareholders will own 54% of the combined company, with DS Smith shareholders owning the rest. DS Smith is a major cardboard box manufacturer, while Mondi is a South African company that began as a mill built by Anglo American Plc. [Extracted from the article]

Marks & Spencer Group Plc Co-CEO Katie Bickerstaffe will step down in July, leaving Stuart Machin in full control of the UK retailer. Bickerstaffe will pursue a board career and is rumored to become a non-executive director of Kingfisher Plc. Since Machin and Bickerstaffe took over in May 2022, Marks & Spencer has experienced a successful turnaround, with strong holiday sales growth and the reinstatement of dividends. Bickerstaffe was the first female co-CEO in the company's history and focused on online operations and data. [Extracted from the article]

Lululemon Athletica Inc., Abercrombie & Fitch Co., and American Eagle Outfitters Inc. have raised their sales outlooks due to strong holiday sales, despite concerns about consumer weakness and high inflation. Discounts and buy now, pay later plans helped generate record online sales during the holiday season. Lululemon expects higher net revenue for the fourth fiscal quarter, while Abercrombie and American Eagle also raised their sales outlooks. Crocs Inc. also reported a successful holiday season and expects record revenue in 2023. [Extracted from the article]

Lululemon Athletica Inc. has raised its sales and earnings guidance after a strong holiday season. The company now expects net revenue of $3.17 billion to $3.19 billion for the fourth fiscal quarter, with diluted earnings per share of up to $5. This positive outlook sets Lululemon apart from competitors like Nike, which is facing weaker sales. Lululemon's success can be attributed to its global appeal and premium sportswear offerings. The company had initially been cautious in its guidance, but strong sales across all categories, channels, and geographies have led to the better-than-expected performance. [Extracted from the article]

Carrefour, a French supermarket chain, has removed PepsiCo snacks and soft drinks from its shelves due to recent price increases. The move is part of an ongoing conflict between retailers and food companies over the cost of popular items. Carrefour has replaced the PepsiCo products with a note stating that the price hikes are "unacceptable." This dispute reflects the larger issue of grocers and food producers negotiating annual prices and trying to compete with discounters. Other supermarkets have also taken similar actions in the past during heated price disputes. [Extracted from the article]

Bristol Myers Squibb Co. has announced its acquisition of Karuna Therapeutics Inc., a developer of schizophrenia drugs, for $14 billion. The deal involves Bristol Myers paying $330 per share in cash, representing a 53% premium to the closing price on Thursday. This acquisition will expand Bristol Myers's portfolio in neuroscience, a growing area of interest for many drugmakers. Karuna's KarXT drug, if approved for schizophrenia and other uses, has the potential to generate over $6 billion in annual sales. [Extracted from the article]

Byline: ERIC PFANNER The deal, if completed, would bring together two of the biggest book publishers in the world. To view this article at nytimes.com, click here: [...]

(Bloomberg) -- AstraZeneca Plc agreed to pay $425 million to settle US product liability lawsuits related to heartburn and stomach acid treatments Nexium and Prilosec, which some users said caused kidney damage. AstraZeneca shares rose 1% in early trading Tuesday, as some investors had worried that a settlement of the Nexium and Prilosec cases could cost the company more. [Extracted from the article]

(Bloomberg) -- AstraZeneca Plc agreed to pay $425 million to settle US product liability lawsuits related to heartburn and stomach acid treatments Nexium and Prilosec, which some users said caused kidney damage. GSK Plc in June settled litigation with a man who claimed the drugmaker's Zantac treatment caused his cancer. [Extracted from the article]

"When we have the consent decree, then the timeline will be clarified, but it normally takes five to seven years", Philips CEO Roy Jakobs said in an interview with Bloomberg News in London. (Bloomberg) -- Royal Philips NV may have to deal with the consequences of a costly recall of sleep apnea devices for another seven years, according to its chief executive officer. [Extracted from the article]

(Bloomberg) -- Smurfit Kappa Group Plc agreed to acquire WestRock Co. in an $11.2 billion deal that creates an Irish-American packaging industry powerhouse. Smurfit Kappa shares plunged as much as 13% in early Dublin trading as investors reacted to the prospect of a deal that includes a 28% premium to WestRock's Monday close. [Extracted from the article]

Smurfit Kappa shares plunged as much as 13% in early Dublin trading as investors reacted to the prospect of a deal that includes a 28% premium to WestRock's Monday close. (Bloomberg) -- Smurfit Kappa Group Plc agreed to acquire WestRock Co. in an $11.2 billion deal that creates a packaging industry powerhouse domiciled in Ireland. [Extracted from the article]

(Bloomberg) -- Packaging companies WestRock Co. and Smurfit Kappa Group Plc agreed to combine in an $11.2 billion deal that creates an industry giant domiciled in Ireland. The deal, which has been unanimously recommended by the boards of both companies, will create a packaging behemoth that provides everything from corrugated storage boxes to beer carriers and e-commerce shipping materials. [Extracted from the article]

Jaguar Owner Tata Picks Britain for £4 Billion Battery Plant (Bloomberg) -- Tata Group plans to build a £4 billion ($5.2 billion) battery plant in the UK to supply electric vehicles made by Jaguar Land Rover Automotive Plc, in a big win for Britain's struggling car industry. JLR and Tata Motors Ltd. will be anchor customers for the plant capable of providing 40 gigawatt hours worth of batteries, with supplies starting from 2026, according to a statement. [Extracted from the article]