Warner gets ready for takeover offers February 20, 2011 WARNER Music Group is ready to hear from up to 20 takeover bidders this week, a source close to the company confirmed yesterday, as the major label races to the market ahead of rival EMI. New York-listed Warner hired Goldman Sachs last month to examine its options, which could lead to the sale of all [...]
Air France may be considering a bid for Virgin Atlantic February 20, 2011 AIR FRANCE-KLM, Europe’s largest airline by revenue, and Atlanta-based Delta Air Lines are working together to examine a bid for Virgin Atlantic, said various sources yesterday. The consortium is trying to tempt Virgin into joining the Skyteam alliance, with Goldman Sachs rumoured to have been tapped as an adviser. Virgin Atlantic responded to the speculation [...]
Blavatnik may reprise WMG role February 20, 2011 RUSSIAN-BILLIONAIRE Len Blavatnik resigned from his directorship at Warner Music Group in January 2008, blaming his “extensive travel schedule” for his retirement from front-line duties. But three years later, his plan to take his finger off the pause button at WMG has little to do with a quieter work schedule. Blavatnik, as a member of [...]
Intel to build $5bn chip factory February 20, 2011 Intel plans to build a $5bn (£3.1bn), cutting-edge microchip factory in Arizona by 2013, sharply ramping up its US manufacturing capacity as part of a major global expansion. Construction should kick off in the middle of this year, it said in a statement.
Toyota to sell home car chargers February 20, 2011 Toyota will launch home battery chargers for electric and plug-in hybrid cars next year as it starts selling new models of environmentally friendly cars. The chargers, which will be compatible with non-Toyota cars, will come in two types, according to weekend reports. One would extend from the exterior wall of a home and the other [...]
Australian Seven Media sold February 20, 2011 West Australian Newspapers has agreed to buy Seven Media Group and raise capital to help pay for the deal, it confirmed today. Newspapers had said it would buy the broadcaster and magazine group for A$3.5bn (£2.2bn). Seven Media is owned by private equity firm Kohlberg Kravis Roberts and Kerry Stokes’ Seven Group, which owns more [...]
FLASH CRASH PANEL PLANS February 20, 2011 US regulators should stem the growing tide of anonymous stock-trading and consider imposing fees on high-frequency traders, said a panel of experts advising how to avoid a “flash crash” like the one on 6 May last year. The panel, including Cornell University finance professor Maureen O’Hara (above) suggested the SEC force those that facilitate stock-trading [...]
Huawei in bid to provide free mobile networks on the Tube February 20, 2011 CHINA’S biggest telecoms operator, privately-owned Huawei Technologies, is bidding to provide a mobile network for the London underground system in time for the 2012 Olympics. The equipment for the network would likely be provided free of charge, with tube operator Transport for London stressing that due to budgeting pressures, any such proposal would have to [...]
Rumours of foreign bids for Invensys February 20, 2011 ENGINEERING firm Invensys could be the target of a foreign takeover, with Swiss, French, German and Chinese firms all understood to be considering bids. Potential suitors include Emerson Electric, Siemens, China Southern Rail (CSR) and ABB. Sources close to Invensys played down the rumours to City A.M., saying the firm has been linked with numerous [...]
BEST OF THE BROKERS February 20, 2011 RENTOKIL Standard & Poor’s rates the pest controller “hold” with a reduced 12-month target price of 105p follow disappointing results on Friday. The broker sees little respite from pricing pressures in the textile and hygiene business and continued poor performance from the City Link division. S&P was also surprised by the decision not to reinstate [...]
