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...decided to buy for $5.1 billion the 58% of Chiron that Novartis does not own, and the Federal Trade Commission approved the deal last month. But the California hedge fund ValuAct, which owns 5% of Chiron, has announced that it intends to vote against the deal, calling Novartis' $45 per share offer "tantamount to stealing the company." Vasella, however, believes that Novartis, with its deep pockets and tight quality controls, is ideally positioned to clean up Chiron's mess, expand capacity and exploit its trove of intellectual property. Says Vasella: "When you have 42% ownership...
...party of Ukrainian President Viktor Yushchenko in advance of March's parliamentary elections. In an echo of Soviet-era threats, on Russian television last week industry officials enthusiastically demonstrated how they would cut off all gas supplies to Ukraine if it refused to agree to the new price - $230 per 1,000 cu m, more than four times the $50 it currently pays. "This [price] war was the final straw in my decision to resign," Illarionov told Time on Saturday. "I was invited to take part in it to explain why the price hike, and everything else in our bilateral...
...weapon, as OPEC did in November 1973, when they placed the U.S. and Holland under oil embargo for siding with Israel. Prices skyrocketed; Saudi Arabia enjoyed a couple of years of fat profits. Then, the U.S. and other Western countries improved their economies, and adjusted to new prices, while per capita income in Saudi Arabia has sharply dropped since. A country that is prepared to wield energy weapons must know that it is going to lose in the long run. History gives an unequivocal answer to where Russia will slide, should it embark on this road...
...cover.”Colgate also boasts a very strong backcourt, which returns all three starters from last year’s 85-82 overtime loss to Harvard. Alvin Reed leads the Raiders at the point and is 10th in the Patriot League in assists with three per contest. Kyle Roemer is the squad’s sharpshooter, connecting on 38 percent of his tries from three and averaging 13 points per game, ninth best among Patriot players. Jon Simon rounds out the three guard lineup, pouring in eight points a game, much of which derives from his tremendous accuracy...
...Harvard is the prism through which 02138 will view the world,” Kim said. According to the promotional materials for 02138, over half of the university’s alumni are millionaires—a narrow but lucrative market for advertisers. They will also charge subscribers $36 per year. Kim said the new magazine will be an interesting approach to alumni news. “We will deliver compelling profiles, cover important stories, and even break some news,” Kim wrote. “All, we hope with wit, sophistication, and style...