P&G to acquire consumer health unit of Germany's Merck for about $4.21 bn

Procter & Gamble Co said on Thursday it has signed an agreement to acquire the consumer health business of German pharmaceuticals company Merck KGaA for about $4.21 billion (3.4 billion euros).

The acquisition enables P&G to add to its portfolio of existing consumer healthcare capabilities and brands such as Vicks, Metamucil, Pepto-Bismol, Crest and Oral-B.http://www.business-standard.com/article/international/p-g-to-acquire-german-merck-s-consumer-health-business-for-about-4-21-billion-118041900220_1.html

Apple, Philip Morris, chip stocks lead Wall Street slide; financials gain

US stocks dropped on Thursday, weighed down by a broad-based decline in technology stocks from Apple to chipmakers as well as a tumble in consumer staples such as Philip Morris and P&G.
A warning from Taiwan Semiconductor (TSMC), the world's largest contract chipmaker and an Apple supplier, on soft demand for smartphones and on the semiconductor industry's growth this year sparked a tumble in chip stocks.

Apple's shares also fell 2.3 percent, with analysts telling Reuters that TSMC's warning was related to the iPhone maker. Apple was the biggest drag on the Dow Jones Industrial Average and the Nasdaq.

TSMC's US-listed shares fell 6.3 percent. Intel declined 3.1 percent, falling the most on the Dow. All stocks on the Philadelphia SE Semiconductor index were in the red, with the index itself tumbling 3.9 percent.

The S&P consumer staples sector declined 3.2 percent as Philip Morris plunged 17.4 percent after the tobacco company's weak results and forecast.

Procter & Gamble claims narrow win over Peltz in proxy challenge

Procter & Gamble Co said on Tuesday activist hedge fund manager Nelson Peltz lost his fight to win a seat on the company's board, according to a preliminary tally of shareholder votes in the biggest and most expensive proxy contest ever.

Peltz, whose Trian Fund Management LP owns a $3.5 billion stake in the world's largest consumer products maker by market capitalisation, refused to concede defeat, saying the vote was too close to call before the certified results are released.

Sources said the difference in for and against votes for Peltz's board director nomination was well within one percentage point. An independent inspector is expected to review and certify the votes this month and Trian could then legally challenge the result.

"We anticipate Peltz, who has taken issue with the firm's organizational structure, corporate governance, and recent financial performance, to contest the vote," Morningstar analyst Erin Lash said.

If the outcome is confirmed, it would be a bruising loss for Peltz, given that P&G sought to turn the proxy contest into a referendum on his credentials as a seasoned executive in the consumer sector, with board director experience at Kraft Heinz Co and Mondelez International Inc.

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