China’s Shanghai index falls nearly 8.5 percent dragging Asia and Europe in its wake, as investors worry Beijing government’s interference in the market cannot not keep stocks high indefinitely. Israeli generic drug giant Teva Pharmaceuticals agrees to buy Allergan Generics for $40.5 billion. It decides instead to drop its pursuit of U.S. rival Mylan, which has repeatedly rebuffed its approaches. In the UK rival online gambling companies are back at the gaming table in a bidding war for Bwin.party Digital Entertainment. GVC Holdings is hoping it $1.55 billion bid for bwin.party will trump a competing, and already agreed on, offer from 888 Holdings. A roller coaster accident at Merlin Entertainments’ Alton Towers theme park hits the attractions operator’s profits.
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