Caution urged over Peacocks buy-out November 1, 2005 Broker Numis warned Peacocks shareholders to scrutinise the budget retailer’s performance at the half year as the recent run of strong trading could make the proposed £404m take-out price look “conservative”. The Peacocks management team, backed by Goldman Sachs, Debenhams chairman John Lovering and American hedge funds Och-Ziff Capital Management Group and Perry Capital LLC, [...]
Mowlem admits takeover approach November 1, 2005 Mowlem, the construction group chosen to build a new stand at Twickenham, is the latest company to be at the centre of takeover talks. The Middlesex-based company, which has added support services to its remit, admitted yesterday it had received an approach for the business, although it declined to reveal the identity of its suitor. [...]
Skandia posts sales ‘defence’ November 1, 2005 Skandia, the Swedish insurer at the centre of a £3.13bn takeover battle, attempted to bolster its defence yesterday by unveiling a 34 per cent leap in sales. Total premiums and deposits rose in the third quarter to Skr32.4bn (£2.29bn) as all its divisions, including Britain, helped boost revenue. Old Mutual, the British-listed company whose main [...]
Clinton slips into the red November 1, 2005 Clinton Cards was one of the day’s biggest fallers yesterday after the retailer revealed the integration of its new charge, Birthdays, was running five months behind schedule and announcing a slump in recent sales. The company posted a loss of £10.4m on sales of £250.5m in the six months to 31 July. Like-for-like sales were [...]
P&O bidding war hots up November 1, 2005 Shares in P&O Ferries surged yesterday as the prospect of a bidding war for the group intensified after it confirmed Dubai Ports World had made a takeover offer. P&O shares rocketed to 425p in early trade and ended the day 30 per cent up at 404p. It is understood UAE government-owned Dubai Ports will face [...]
GM and SAIC to build ‘green’ cars November 1, 2005 American carmaker General Motors and China’s SAIC have signed an agreement to collaborate on manufacturing fuel-efficient hybrid cars for the Chinese market. GM chairman and chief executive Rick Wagoner and SAIC chairman Hu Maoyuan signed a memorandum of understanding yesterday in Shanghai that will see the two firms working together to develop a range of [...]
Villa’s price surges on news of takeover talks November 1, 2005 Shares in Aston Villa surged yesterday after it confirmed takeover talks that could value the Midlands club at £64m. The Aston Villa board said yesterday that it had received a preliminary approach from Birmingham businessman Michael Neville, who is thought to be the front man for brothers Luke and Brian Comer, who run Irish property [...]
Nippon in Pilkington talks November 1, 2005 Shares in St Helen’s-based glass producer Pilkington jumped 25 per cent after confirmation that it is in merger talks with Japanese company Nippon Sheet Glass. Analysts questioned the strategy behind Nippon’s approach, but the stock market was convinced as Pilkington’s shares finished the day at 153.25p a share, up 26.50p. Pilkington’s share price initially spiked [...]
JD Group snaps up Allsports November 1, 2005 Sports retailer John David Group yesterday swooped on stricken rival Allsports in an £18m store and stock deal. Private equity and trade interest in Britain’s fourth-largest sports retailer had fallen away. Retail entrepreneur Mike Ashley is thought to have walked away last week but Ashley has been building a stake in John David Group, suggesting [...]
Mortgage approvals at a year high November 1, 2005 Bank of England data released yesterday sent out mixed messages, with mortgage approvals at their highest level in more than a year, but unsecured lending slowing down. Bank figures showed that house purchase approvals rose to 107,000 in September, up marginally from 106,000 in August. This puts mortgage approvals at their highest level since June [...]
