GLOBAL MARKETS: Barclays CEO in hot water over whistleblower
And one of Europe’s last makers of generic drugs is bought by Bain and Cinven
Stada Arzneimittel agreed to sell itself to Bain Capital and Cinven for €5.3bn, giving the private equity firms control of one of the last independent generic-drug businesses in Europe after a long-fought takeover contest. Bain Capital and Cinven will offer €65.28 plus a dividend of €0.72 per Stada share, the German drug maker said.
Barclays CEO Jes Staley faces probe, bonus cut
Barclays CEO Jes Staley will be reprimanded and the bank will cut his pay as regulators begin to investigate how he tried to unmask a whistleblower last year. The UK’s Financial Conduct Authority is investigating both Staley’s individual conduct relating to the complaint and the bank’s responsibilities and controls in connection with whistleblowing, the bank said on Monday. Staley had admitted his error and formally apologised to the board, Barclays said.