Medical device company Stryker buying Mako Surgical for about $1.41 billion + MORE Sep 25th

Barrick Gold has hired UBS and Bank of America Merrill Lynch to sell two Australian mines, as it continues to shed its higher-cost, shorter-life assets, according to people familiar with the matter.

CAMBRIDGE, Mass. – Harvard University’s endowment earned an 11.3 per cent gain on investments in the most recent fiscal year to surge to $32.7 billion.
The endowment for the nation’s wealthiest university for the fiscal year that ended June 30, however, remains well below the high-water mark of almost $37 billion reached in 2008 before the financial crisis cost Harvard about $11 billion.
Jane Mendillo, president and CEO of Harvard Management Co., which oversees the Ivy League university’s investments, says the endowment beat benchmarks and has recovered well since the recession started.
Distributions from the endowment contributed more than a third of the university’s operating budget during the most recent fiscal year.
The endowment also supports financial aid programs that allow the university to admit qualified students regardless of their ability to pay.
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WASHINGTON – Britain’s ICAP PLC has agreed to pay about $87 million to settle U.S. and U.K charges of manipulating a key global interest rate, the fourth financial firm sanctioned in the international rate-rigging scandal.
The U.S. Commodity Futures Trading Commission said Wednesday that ICAP, the world’s largest broker of trades between banks, engaged in rigging of the London interbank offered rate, or LIBOR, from October 2006 to January 2011.
Separately, U.S. prosecutors in Manhattan filed criminal charges Wednesday against three former ICAP brokers, saying they hurt the integrity of the financial markets by taking part in the scheme for their own financial gain.
The former brokers, Darrell Read of New Zealand and Daniel Wilkinson and Colin Goodman of Britain, were each charged with conspiracy to commit wire fraud and two counts of wire fraud. They face a maximum 30 years in prison for each of three counts.
A British banking trade group sets the LIBOR every morning after international banks submit estimates of what it costs them to borrow…

Index tracking financial arms of major equipment makers sees double-digit monthly decline in August

FORT LAUDERDALE, Fla. – Stryker will spend $1.41 billion to acquire Mako Surgical and all of its robotic assisted surgery technology.
The medical device maker will pay $30 per Mako share, an 86 per cent premium to its $16.17 closing price Tuesday. The companies put the deal’s value at about $1.65 billion.
Shares of Mako soared 84 per cent to $29.73 before the opening bell Wednesday.
Mako Surgical Corp., based in Ft. Lauderdale, Fla., has approximately 47 million outstanding shares, according to FactSet. The company’s products include its Rio robotic arm interactive orthopedic system and its Restoris implants. It also recently introduced the Makoplasty total hip arthroplasty, a new robotic arm system that is used for complete hip replacements.
Stryker CEO Kevin Lobo says Mako’s robotic technology has long-term potential for human joint reconstruction.
The transaction must still be approved by Mako shareholders.
Stryker said that the acquisition will likely shave about 10 to 12 cents per share in adjusted earnings during the first full year…