Spirit rejects strong takeover bid from Magners maker C&C Group October 23, 2014 SPIRIT Pub Company has rejected a takeover bid from Magners maker C&C Group, it emerged last night. It will instead move forward in a deal with rival Greene King. Spirit said in a statement that it had “reviewed the proposal and rejected it”. C&C had made an attractive offer for the company yesterday despite currently [...]
Shire-AbbVie takeover off as James Bowling quits October 20, 2014 Shire last night confirmed its $54bn (£32bn) deal with AbbVie was off, with a $1.635bn break fee owed. In a statement, the Dublin-based pharmaceuticals company said: “In light of the AbbVie Board’s decision to change its recommendation and to advise its shareholders to vote against its Offer, Shire believes that there is now no realistic [...]
TechCrunch Disrupt: Neelie Kroes dodges Jean-Claude Juncker question as AOL’s Tim Armstrong denies Yahoo merger October 20, 2014 European Union digital commissioner Neelie Kroes performed some masterful sidestepping at TechCrunch’s Disrupt conference in Old Billingsgate. The outgoing head enjoyed a grilling from TechCrunch’s editor-at-large Mike Butcher on stage including a cheeky question about her boss, European Commission president Jean-Claude Juncker and his rumoured appreciation of fine wine. Butcher jokingly asked if Juncker liked [...]
Billionaire Bollore sees shares tank over ad takeover proposal October 20, 2014 FRENCH billionaire Vincent Bollore saw shares in his listed group close down 11.5 per cent last night after unveiling plans to increase his stake in French advertising firm Havas, best known for working with Disney on its ad campaigns. Group Bollore shares lost €43.70 each to tumble to €335.15 a share on the Paris stock [...]
Shire eyes deals using $1.6bn AbbVie windfall after takeover bid falls apart October 19, 2014 UK drugmaker Shire is eyeing up a number of acquisitions as it looks set to receive a windfall of as much as $1.6bn (£994m) from AbbVie, as the US pharma giant’s $54bn takeover bid falls apart. Shire is in discussions with acquisition targets including NPS Pharmaceuticals and biopharmaceutical firm Cubist, according to The Sunday Times. [...]
Treasury silent on claims it gave £100m loan to US tycoon Gary Klesch for Milford Haven oil refinery takeover October 19, 2014 The Treasury yesterday refused to confirm or deny reports that it has granted US businessman Gary Klesch £100m worth of loan guarantees to help him in taking over the Milford Haven oil refinery in Wales. Klesch is founder and chairman of a Geneva-based global industrial commodities business, made up of three divisions which specialise in [...]
Shire share price falls again as AbbVie board recommends shareholders reject takeover bid October 16, 2014 The billion-pound deal between AbbVie and Shire could be over. AbbVie has recommended shareholders vote against the proposed $54bn (£32bn) deal to buy UK drugmaker Shire, essentially ending the takeover bid and sending Shire shares down an initial 12 per cent when markets opened this morning. The US pharmaceutical firm AbbVie said it was rethinking the [...]
Expedia takeover of Wotif faces New Zealand competition hurdle October 14, 2014 The takeover of Australian travel firm Wotif by US-listed Expedia hit a snag yesterday after regulators in New Zealand delayed a green light for the deal. Shares in Wotif, listed on the Australian Stock Exchange, fell more than seven per cent after the New Zealand Commerce Commission put the announcement on ice. US travel group [...]
New Britain Palm Oil share price up 75pc as Sime Darby Plantation announce $1.1bn takeover bid October 9, 2014 London-listed New Britain Palm Oil (NBPOL) saw its share price shoot up by almost 75 per cent yesterday after Malaysian company Sime Darby Plantation announced a £1.1bn (£682m) takeover bid. NBPOL, which opened a refinery in Liverpool in 2010, is based in Papua New Guinea. Sime Darby stated last week that it would not [...]
Rio Tinto rejects Glencore’s £60bn mega-merger bid October 6, 2014 Merger would create world’s biggest mining group Giant mining group Rio Tinto last night revealed it had firmly rejected an approach from Glencore, in the opening salvo of a new mega-merger bid in the sector. The estimated £60bn offer would have created a £100bn titan by market capitalisation, with the combined group leapfrogging BHP Billiton [...]