Merkel might

German Chancellor Angela Merkel attempted to shut the door on common euro-area bonds as a means to solve the debt crisis, saying that she won’t let financial markets dictate policy. Joint euro bonds would require European Union treaty changes that would “take years” and might run afoul of Germany’s constitution, Merkel said. While common borrowing might arrive at some point, bringing in euro bonds at this time would further undermine economic stability, she said.

Oz defense

Foster’s CEO John Pollaers, three months into the role, may announce plans for share buybacks to blunt the appeal of SABMiller’s hostile takeover bid as profit drops. The Australian-based brewer is fending off SABMiller’s bid and trying to stem market-share losses as natural disasters and slumping consumer sentiment crimp the developed world’s widest brewing profit margins.

Kinetic clout

Kinetic Concepts received a takeover offer from ConvaTec, the wound-care maker owned by Avista Capital Partners, that exceeds Apax Partners LLP’s $5 billion bid, sources said.