What's In The News: May 05, 2011

Financial News Network
May 05, 2011 AT 12:57 PM
This is what's in the news for Thursday, May 5th. The Wall Street Journal reports that Access Industries Inc. was the leading bidder late yesterday for Warner Music Group (WMG). The Financial Times reports that News Corp. (NWSA) may look to push down the price of BSkyB (BSYBY). Bloomberg reports that Applied Materials's (AMAT) $4.9B purchase of Varian Semiconductor (VSEA) may set off more acquisitions in the chip machinery industry, making companies such as Novellus Systems (NVLS) possible targets. The Wall Street Journal reports that Avon Product's (AVP) internal investigation into possible bribery of foreign officials has uncovered more potential wrongdoing. …Finally, Reuters reports that Caterpillar (CAT) gained E.U. regulatory approval for its purchase of Bucyrus (BUCY) for $7.6B.