Apple Pays Proview $60M to Settle iPad Dispute: Hot Trends
07/02/12 - 08:09 AM EDT
NEW YORK (TheStreet
) -- Popular searches on the Internet include Apple (AAPL)
as the tech titan has shelled out $60 million in the dispute over the name of its iPad tablet.
Apple agreed to pay the settlement to Proview Technology, a maker of computer screens and LED lights in China, after mediation talks. Proview had argued that Apple did not trademark the iPad name in China, despite doing so in other countries. Apple said its international trademark on the iPad name gave the company rights to the name everywhere.
The case went to a higher court in Guangdong after Proview won in a lower court late last year. Proview was declared bankrupt during the case.
is trending as it said it will purchase cloud-gaming company Gaikai
in an all-shares deal for $380 million.
Sony plans to create a new cloud-based service based on Gaikai's platform. Gaikai's platform enables users to stream games on various devices.
The deal is subject to regulatory approval. The date by which it is expected to be completed is unknown.
Just a week ago, Gaikai CEO David Perry denied there was any deal between the two companies.
Bristol-Myers Squibb (BMY)
is another popular search. The company announced it will buy diabetes drugmaker Amylin Pharmaceuticals (AMLN)
for $5.3 billion, or $31 a share, in cash. Including debt, the deal is valued at about $7 billion.
The deal will expand Bristol-Myers' portfolio of diabetes treatments with Amylin's products like Byetta and Bydureon.
In a follow-up deal, Bristol-Myers also will receive $3.4 billion from AstraZeneca (AZN)
to develop Amylin's drugs. Bristol-Myers and AstraZeneca already collaborate on several diabetes drugs. The boards of Amylin, Bristol-Myers and AstraZeneca have approved the two deals.
Amylin rejected a previous $3.5 billion takeover bid from Bristol-Myers.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar