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AstraZeneca rejects Pfizer’s final £69bn takeover bid

Sean Farrell, Monday 19 May 2014 Anglo-Swedish firm’s rejection of ‘undervalued’ £55 per share offer seems to end prospects for the biggest foreign takeover of a UK company  … Read more »

Tiger Brands Writes Off $82 Million in Nigeria’s Dangote

Tiger Brands Ltd. (TBS), South Africa’s largest food company, will write off about half of its investment in Dangote Flour Mills Plc (DANGFLOU) less than two years after buying a… Read more »

Old Mutual boosted by strong sales in Africa

* Gross sales up 24 percent on constant currency basis * Sales in Africa up 27 percent excluding South Africa * U.S. asset management unit sees outflows of $3.6 bln… Read more »

Julius Berger to raise N7.5bn in new capital

Julius Berger Nigeria plc, Nigeria’s largest construction company, plans to raise N7.5 billion in new capital as it seeks to boost operations in Africa’s largest economy. The company has authorised… Read more »

Pfizer presses AstraZeneca case as CEO faces UK grilling

U.S. drugmaker Pfizer pressed the scientific case for its controversial plan to acquire AstraZeneca on Monday as its chief executive prepared for a grilling from British lawmakers. In the latest… Read more »

Heineken says it is investing 500 million euros a year in Africa

Heineken (HEIN.AS) plans capital expenditure of 500 million euros ($690 million) a year in Africa over the next few years to maintain sales growth, a senior executive at the world’s… Read more »

Dangote Cement Awarded More Than $700 Million Dividend

Africa’s richest man, Aliko Dangote, has pocketed $706 million in dividends from profits made by his crown jewel, Dangote Cement in 2013. Dangote Cement PLC, which held its annual meeting… Read more »

US, S’Africa, UK top FDI in Nigeria – EY

A new report has shown that the United States, South Africa and United Kingdom are Nigeria’s top three investors for Foreign Direct Investment in new projects. The EY special report… Read more »