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Monday, July 24, 2006

News Digest 7/24/2006


According to Reuters, Advanced Micro Devices will announce today that its has bought ATI Technologies, the graphic chip maker, for $5.5 billion. AMD believes that owning the company will help it in its competition with Intel.

Reuters writes that British mobile phone company Vodafone added 4.5 million subscribers in its last quarter and maintained its financial estimates for the year.

Reuters writes that Merck may rise today based on a positive report in Barron's.

The Wall Street Journal writes that hospital gian HCA has arranged to sell itself to a group of private equity firms for $21 million. It would be one of the largest such buy-outs in US history.

The WSJ also writes that Philips has bids from three private equities firms for its semiconductor business. The price is believed to be above $10.2 billion.

The WSJ reports that Black & Decker appliance maker Applica and HamiltonBeach/ProctorSilex will merge in a deal worht $400 million. The compined company will have sales of about $1.1 billion.

The WSJ also reports that Amvescap will buy WLRoss. The deal will bring billionaire Wilbur Ross into the company and give him greater access to capital. The price of the transaction will be $100 million but could rise to $375 million if certain conditions are met over the next several years.

The WSJ writes that Novartis' leukemia drug Gleevec can cause severe heart problems in some patients according to a recent study.

The New York Times writes that Amazon will add food to the 33 lines of products it already sells. The service will have sales rankings and customer reviews.

Douglas A. McIntyre

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