ZURICH, March 31 The following are some of the
main factors expected to affect Swiss stocks on Friday:
Johnson & Johnson declared its $30 billion tender
offer for Swiss biotechnology company Actelion successful on
Friday, reporting it controlled 77.2 percent of the voting
rights after the main offer period. The price of the offer,
which J&J announced on Jan. 26, was $280 per share for Actelion.
It said it expected the transaction to close in the second
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* Zurich Insurance is redeeming $1 billion worth of
trust preferred securities early. The securities, issued in 2007
by ZFS Finance (USA) Trust V are expected to be redeemed on May
9, 2017 at par plus accrued interest, Zurich said. The net
amount outstanding is $501 million.
An Australian court has approved an arrangement under which
Zurich Insurance will acquire all shares in travel insurer
Cover-More. Cover-More expects to lodge the approval
with Australia's Securities and Investment Commission April 3.
* Helvetia has placed a 500 million euros ($536.25
million) subordinated hybrid-bond on the EUR capital market. The
bond bears a fixed coupon of 3.375 percent until its first
optional call date in September 2027.
* Credit Suisse said it plans to suspend further
issuance of its exchange-traded notes. The plan does not affect
investors' ability to offer the bank ETNs for repurchase, Credit
* VAT Group expects to grow sales at least 20
percent in 2017 in constant currency after net income jumped to
67 million francs in 2016. The group nominated Martin Komischke
to succeed Horst Heidsieck as chairman of the board.
* Sika appointed six managers to new positions
within the firm, which its CEO said would help the group achieve
its growth strategy and 2020 targets.
(Reporting by Zurich newsroom)