Bids Target Transfield, Tenix

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Two Australian engineering firms with the same founder—an Italian immigrant who came to construct power cables in Sydney in the early 1950s—coincidentally became the subject of multimillion-dollar takeover bids on the same day.

Electrolux Wrings Out Improved Profit

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Electrolux said profit jumped 42% in the latest quarter, boosted by strong operational recovery in Europe despite a continued tough market situation.

Australia Sets Medibank IPO

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Australia’s government said it aims to raise as much as $4.82 billion through an initial public offering of the country’s biggest health insurer.

Shire's Interim Finance Chief Quits

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Shire has announced that James Bowling, the Dublin-based drug developer’s interim chief financial officer, is stepping down only days after the board of AbbVie walked away from a $54 billion planned takeover of the company.

Group Seeks Adidas's Reebok Unit

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An investor group from Hong Kong and Abu Dhabi is launching a bid to buy Reebok from Adidas in a move that would unwind a disappointing eight-year marriage of sneaker makers.

Metro Hurt by Strong Euro

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Metro reported a 2.6% decline in fourth-quarter sales after a strong euro and asset disposals derailed growth, though the German retailer said it would meet targets for the year.

Philips Swings to Loss

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Philips said it swung to a net loss for the third quarter because of a production suspension at one of its health-care plants and a €366 million legal provision.

SAP Cuts Outlook

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Enterprise software provider SAP AG lowered its earnings outlook for this year, even as it reported a 15% increase in third-quarter net profit, boosted by growth in subscriptions for its cloud-based software products.

Nutreco Agrees to SHV Takeover Offer

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Animal nutrition and fish feed company Nutreco NV said it agreed to a €2.69 billion ($3.43 billion) takeover offer from Dutch conglomerate SHV Holdings NV.

A Mining Force Digs In Again

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Mick Davis, who built two mining giants in the past two decades, is entering the fray again as companies such as BHP Billiton and Anglo American look to sell off assets.

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