EU OKs J&J's $21.3B Synthes Takeover: Hot Trends
NEW YORK (TheStreet) -- Popular searches on the Internet Thursday include Synthes after the European Union approved Johnson & Johnson's(JNJ) $21.3 billion acquisition of the Swiss orthopedics maker.
The EU said J&J's planned sale of its trauma business would ensure the combined companies would continue to face competition and leave enough alternatives for doctors and patients.
Synthes is J&J's largest acquisition to date. U.S. regulators have not yet approved the deal.
J&J offered to buy Synthes in April 2011 for 159 Swiss francs a share in cash and stock. It plans to sell its global trauma business to Biomet for $280 million in cash.
Ford(F) is trending as the automaker is planning a new $760 million assembly plant in China that is expected to double its output in the country.
Construction on the plant will start later this year and should open in 2015. Though it will initially produce 250,000 vehicles a year, Ford expects the plant to eventually double its production to 1.2 million vehicles annually.
The factory makes Ford's total investment in China now $4.9 billion. The company plans to bring 15 new models and 20 new engines and transmissions to the country by 2015.
Human Genome Sciences(HGSI) is another popular topic after rejecting an unsolicited $2.6 billion bid from GlaxoSmithKline(GSK) . Human Genome said the $13-a-share cash offer "does not reflect the value inherent" in the company.
Human Genome said its board has authorized exploring strategic alternatives, include a possible sale of the company, and GlaxoSmithKline has been invited to participate in the process.
The two companies are partners on lupus treatment Benlysta, which was approved by U.S. and European regulators last year. The companies are also collaborating on two other experimental drugs.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.