Emulex’s cash offer of 500 pence per share announced on December 5, 2012 has been officially dispatched to shareholders and optionholders, under the terms of the NZ Takeovers Code. Using the current exchange rate of 1.62 USD to the pound sterling, this represents a transaction value of approximately $131 million, a 65 per cent premium to the mid-market closing price …

The New Zealand dairy industry is set to benefit by China’s decision to drastically slash the tariff on infant milk formula to bring down prices and secure supplies for its fast-growing middleclass. Buy MS Office 2010 Cheap The move comes just one day after China’s biggest dairy company Yili announced it will invest $214 million in establishing an infant milk …

Momentum stalled on Wall Street as did budget talks between Democrats and Republicans aimed at preventing the US from falling over a fiscal cliff at the end of the month. Today Republicans in Congress will vote on House Speaker John Boehner’s plan to raise taxes on incomes over US$1 million, a plan President Barack Obama would veto as he’s now …