M&A News: Japan Tobacco, Elan, Shell, Repsol, KKR, Gardner Denver
Noteworthy expenditures of the week
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1. The Japanese government will sell a stake in Japan Tobacco, maker of Winston and Camel brand cigarettes, for about $10.3 billion to cover reconstruction costs from the country’s 2011 earthquake.
2. RP Management, a London investment firm, has offered to buy Elan for about $6.5 billion, challenging the Irish drugmaker’s plan to embark on its own acquisitions.