Shareholders of Youku (NYSE:YOKU) and Tudou (NASDAQ:TUDO) approve a merger between the two companies that would further increase the lead Youku had over competitors Baidu (NASDAQ:BIDU) and Tencent. The all-stock merger between the top two video Web sites in China would create a company with over 300 million users and yield savings of over $60 million annually.
McCormick (NYSE:MKC) pays approximately $141 million to acquire Chinese spices firm Wuhan Asia-Pacific Condiments. The move will enable McCormick to expand the distribution of its bouillon products into China’s interiors.
CME Group (NASDAQ:CME) confirms it is planning to apply to the U.K.’s Financial Services Authority to set up a London-based derivatives exchange. With 20 percent of its volumes coming from Europe, CME will commence forex futures trading by 2013, pending receipt of regulatory approvals for its investment exchange.
Don’t Miss: Is Apple Heading for $700?