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Financial News Network
July 28, 2011 AT 3:43 AM
This is what's in the news for Wednesday, July 27th. The Financial Times reports that in a move to brace themselves for the consequences of a potential downgrade of the U.S.'s triple A credit rating, U.S. banks are holding on to more cash and locking in longer-term financing. The Wall Street Journal reports that Valeant Pharmaceuticals International (NYSE:VRX) has made a takeover approach for Swedish specialty drug maker Meda that could be worth over $4B. Finally, Bloomberg reports that Airbus (PINK:EADSY), the world's largest maker of commercial aircraft, agreed to buy Danish aviation supplier Satair for about $504M in cash.