Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

Daiichi Sankyo says it was misled over Ranbaxy U.S. probes

Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, said it believes unnamed former shareholders of the company hid information regarding U.S. regulatory probes into Ranbaxy.  Full Article 

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Tue Jan 8, 2013 9:39am IST

Jan 8 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:

* Informal approaches by United Parcel Service to FedEx to sell a package of TNT Express assets have been rebuffed by its U.S. rival, making it potentially harder for UPS to win approval for its takeover of the Dutch delivery group, the Financial Times reported.

* UK drinks group Diageo's mandatory tender offer to buy up to 26 percent of shares in India's United Spirits has been postponed as the deal has yet to receive local regulatory approvals, a source with direct knowledge of the matter said.

* The board of Italy's biggest insurer Generali is going to discuss a proposal to buy in two stages the 49 percent in an eastern European joint venture with PPF that it does not already own, three sources with knowledge of the situation said.

* Carlyle Group plans to sell its remaining stake in China's third-largest insurer CPIC in a deal valued at up to $790 million, according to an outline agreement seen by Reuters.

* Citigroup Inc has fired Richard Cookson, chief investment officer of its private bank, as the company looks to cut costs, Bloomberg reported.
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