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Mr T turns to Whitbread
What is Robert Tchenguiz up to? One minute everyone is muttering about his solvency and he's been kicked out of the Sunday Times' Guess Rich List. The next he turns up on the register of Whitbread (through contracts for difference) with a stake of 3 per cent - encouraging everyone to believe there is somehow a break-up bid in the offering....
Further reading
Elsewhere on Friday:
What do you get when you cross good, thematic long-term investors and stock pickers with quarterly or annual redemptions? Perverse decision-making and style drift. Or a portfolio manager with an ulcer.
Inflation is like the boor who goes to the hottest restaurant in town without a reservation,...
Snap news
The latest on Friday,
- Tom Hunter tries to block open offer planned by Dobbies Garden Centres. Statement
- Conditions "challenging" for bid target Minerva. Statement.
- Mexican silver producer Fresnillo prices London IPO at 555p a share, raising £905m, market cap £4bn. Reuters
- BG's talks with Australian bid target Origin ongoing but so far inconclusive....
Citi considers $400bn asset sale
Citigroup will on Friday identify as much as $400bn in non-core assets that could be sold as part of plans to reduce costs and restore profit growth. At a scheduled meeting with Wall Street analysts, Vikram Pandit, Citi’s chief executive, plans to confirm his pledge to cut Citi’s cost base of over $60bn by about 20%....
Bosch prepares for acquisitions
Bosch, Europe’s largest private industrial group and the world’s biggest car parts supplier, is embarking on an acquisition spree after two years of relative reticence as the financial crisis makes companies much cheaper. Franz Fehrenbach, chief executive of the German conglomerate, said the group would spend far more than the €800m ($1.2bn) it spent last year on deals as it attempts to expand in its machine and consumer goods arms as well as in Asia.
ITW in agreed counterbid for Enodis
Illinois Tool Works launched a counterbid for Enodis on Thursday, disrupting what had appeared to be a done deal with Manitowoc, its US rival. The catering equipment maker recommended an offer of 282p a share from ITW, including 2p in lieu of dividend – 12p higher than the amount it advised its shareholders to accept two weeks ago....
Carphone and Best Buy hail shake-up
Best Buy of the US and the UK’s Carphone Warehouse on Thursday promised to shake-up the European consumer electronics landscape with a new joint venture. Carphone also underlined its ambition to become the UK’s largest broadband provider, with an indicative offer of £550m for the UK broadband assets of Tiscali,...
UK’s Gala in Tote talks with racecourses
Gala Coral, the betting, bingo and casino group, has held exploratory talks with representatives of Britain's leading racecourses over a potential £300m-plus joint-bid for the Tote, the state-owned bookmaker, reports the Daily Telegraph. Neil Goulden, Gala Coral's chief executive, hosted a meeting last Friday at the group's Barking head offices with David Thorpe,...
Minerva has nothing to add
The long-mooted interest in Minerva has been flushed out. Limitless, the real estate arm of Dubai World behind the Palm Jumeirah and World developments in the Emirate, confessed that it was in the "very preliminary stages of considering its options" regarding Minerva. There had been no formal approach to Minerva's board,...
Non-Standard rumour
It's not even Friday. From Reuters:
JULIUS BAER UP1.7 PCT ON MARKET TALKS OF INTEREST FROM STANDARD CHARTERED - TRADERS
Yes, a rumour - albeit vague and producing little in the way of price-reaction - on Thursday had London-listed emerging market specialist Standard Chartered looking to acquire a Swiss wealth management firm that traces its history back to the 19th century....
FT Alphaville
FT Alphaville from FT.com
Rome coalition split over fate of Alitalia
Giulio Tremonti, the new finance minister in Silvio Berlusconi's centre-right government, is opposed to the prime minister's rejection of a takeover bid by Air France-KLM
Finmeccanica closes in to buy DRS
An acquisition of DRS, a US military supplier, could be a springboard for the Italian group into a key defence market
BHP could sell $50bn assets if it gets Rio
The world's largest mining company is looking at selling non-core assets in aluminium, copper and ferrous metals if it succeeds in taking over its rival
Japanese to refine more Chinese oil
China National Petroleum Corporation is in talks to buy a 49 per cent stake in a Japanese oil refinery operated by Nippon Oil
OMV chief still keen to pursue Mol bid
Wolfgang Ruttenstorfer says his group is committed in spite of the Hungarian oil company's success at deflecting OMV's moves to sway policy at the shareholders' meeting
Market research industry faces shake-up
The proposed merger between Taylor Nelson Sofres and GfK has set off a series of moves that could consolidate the fragmented industry
Bharti in $19bn bid for half of MTN
India's leading mobile operator has tabled an indicative bid for 51 per cent of the equity of South Africa telecoms group at about R165 a share
Murdoch stands firm on Newsday bid
Rupert Murdoch's News Corp is not planning to raise its $580m bid for Newsday, according to a person close to the company, a stance that would appear to give Cablevision an edge in the competition for the Long Island tabloid
DT has Sprint Nextel in its sights
Deutsche Telekom is considering the takeover of US mobile telephone operator Sprint Nextel of the US which would catapult the German telecoms group from number four to number one by users in the US mobile market
Intel casts eye on consumer electronics
World's largest semiconductor maker plans to be more acquisitive in strategic areas such as consumer electronics, high-end smart phones and mobile internet devices
ING to buy CitiStreet in $900m deal
Citigroup and State Street said that they would sell their retirement benefits servicing joint venture to ING Group for $900m in cash
Bharti poised for MTN signal
Bharti Airtel, India's leading mobile operator, said it could "move pretty quickly" if the board of MTN, the South Africa-based telecoms group, puts itself up for sale
Airlines keep up the chase for coy Continental
The Houston-based airline may have spurned potential merger partners United Airlines and American Airlines with its plan to stay independent but courtship still continues
Hampson set to unveil two US purchases
UK aerospace engineering group expected to announce acquisition of two American tooling suppliers in deals valued at up to $314m
BG shares slide on $12bn Origin move
UK oil and gas group BG has made an unsolicited takeover offer for Origin Energy that values Australia's second-largest electricity and gas retailer at $12bn
FT.com - Mergers and acquisitions
FT.com - Mergers and acquisitions
Almost Family, Inc. Announces Exercise of Over-Allotment Option
SureWest Communications Completes Sale of Wireless Assets to Verizon Wireless
India Globalization Capital, Inc. ('IGC') Appoints New Auditors
Douglas Lake Minerals acquires massive 430 sq km alluvial gold deposit
AEGON Receives Approval for Pension Fund Merger in Poland
NanoSensors Signs Letter of Intent to Acquire The Gaming Network, A.G.
Xenon Pictures Acquires 'Amexicano'
Vernon & Park Capital Acquires Stake in Canadian Trading and Quotation System Inc. ('CNQ')
ATK Notified of Canadian Government Decision to Block Proposed Acquisition of MacDonald, Dettwiler and Associates Information Systems and Geospatial Businesses
Pulmo BioTech Announces an Increase in its Stake in PulmoScience
FAB/Starpoint Acquires Luxury Handbag Company Isabella Fiore
Blockbuster Comments on the Due Diligence Agreement Reached With Circuit City
Inverness Medical Innovations Completes Acquisition of Matria Healthcare, Inc.
Huntsman Releases 2008 First Quarter Results
EUSA Pharma Completes Acquisition Of Cytogen Corporation
dotMobi Acquires Mowser Assets
Steel Dynamics/OmniSource to Acquire Recycle South
SHAPE Services Acquires Warelex in 2.4 million USD deal
Roederer Estate Acquires Prime Pinot Noir Vineyards in Anderson Valley
J-POWER Acquires 49.5 Percent of 242-Megawatt Birchwood Power Plant in King George County, VA, Co-investing With GE Unit
PR Newswire: Acquisitions/Mergers
Acquisitions/Mergers press releases distributed via PR Newswire.
LBO Capital Corp. Signs Agreement to Acquire Ecoplastifuel, Inc.
FARMINGTON HILLS, Mich., May 8, 2008 (PRIME NEWSWIRE) -- LBO Capital Corp., (Other OTC:LBOA), a Colorado corporation ("LBO Capital"), and its subsidiary, Global Tech International, Inc. ("GTI"), a Delaware corporation, announced today that LBO Capital and GTI entered into a binding Definitive Agreement with Global Energy Conversions, LLC, a Michigan LLC ("GEC"). Terms of the binding Definitive Agreement were approved by the Board of Directors of LBO Capital on May 8, 2008.
Rush Enterprises, Inc. Announces Acquisition of North Carolina-Based Peterbilt Carolina, Inc. and Adams International Trucks, Inc.
SAN ANTONIO, May 7, 2008 (PRIME NEWSWIRE) -- Rush Enterprises, Inc. (Nasdaq:RUSHA) (Nasdaq:RUSHB), which operates the largest full service network of heavy- and medium-duty truck dealerships in North America and a John Deere construction equipment dealership in Houston, Texas, today announced that it has acquired the assets of Peterbilt Carolina, Inc., which includes a Peterbilt, Hino and Isuzu heavy- and medium-duty truck dealership. Rush Enterprises, Inc. has also acquired Adams International Trucks, Inc., an International heavy- and medium-duty truck and Workhorse custom chassis dealership. The total purchase price for the acquisitions was approximately $40 million.
Mayfair Mining & Minerals, Inc., Acquires Remaining 30 Percent Interest In Zambian Subsidiary
NEW YORK, May 7, 2008 (PRIME NEWSWIRE) -- Mayfair Mining & Minerals, Inc. (the "Company") (Pink Sheets:MFMM) (Frankfurt:M1M) is today pleased to announce that it has reached a definitive agreement with the Company's Zambian partners and co-shareholders in Mayfair Mining & Minerals Zambia Limited ("Mayfair Zambia"), to acquire their residual 30% shareholding in Mayfair Zambia, thereby giving the Company 100% ownership of the subsidiary.
Tarpon Systems International LLC Announces Acquisition of Tarpon System From Acergy Group
HOUSTON, May 6, 2008 (PRIME NEWSWIRE) -- Tarpon Systems International LLC today announced the acquisition of Tarpon System from the Acergy Group, including all patents, rights, and licenses, for an undisclosed amount. The acquisition, effective May 1, 2008, will broaden Tarpon's asset base and allow for a wider range of solutions to include design and engineering, fabrication, installation management, and contracting.
LBO Capital Corp. Announces 1-for-8 Reverse Stock Split
FARMINGTON HILLS, Mich., May 6, 2008 (PRIME NEWSWIRE) -- LBO Capital Corp., formerly (Other OTC:LBOC), now (OTCBB:LBOA), a Colorado corporation ("LBO Capital"), announced today that, at its Annual Meeting of Shareholders conducted on April 3, 2008, all seven proposals submitted for a vote to the company's shareholders of record at the close of business on February 19, 2008 were approved by a substantial majority.
First Horizon Completes Sale of Nine Branches to Fifth Third Bank
MEMPHIS, Tenn., May 5, 2008 (PRIME NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN) today announced the completion of its sale of nine Atlanta branches to Fifth Third Bank, concluding the sale of all 34 of its First Horizon Bank branches in a strategy to focus on its strong regional banking franchise and capital markets business.
Emerging Media Holdings Inc. Aquires TNT-Bravo Channel
ORLANDO, Fla., May 5, 2008 (PRIME NEWSWIRE) -- Emerging Media Holdings (OTCBB:EMDH) announced today that it has closed on the acquisition of "TNT-Bravo" channel (Mediatopprim LTD), the exclusive operator in Moldova of Russian TV channel TNT programs owned by Gazprom Media, a wholly owned subsidiary of the Gazprom Corporation.
Symposium Productions Acquires iPartyTV
DELAWARE CITY, Delaware, May 3, 2008 (PRIME NEWSWIRE) -- Symposium Productions Corp. (Pink Sheets:SYPJ) is pleased to announce the acquisition of iPartyTV Corp., a Delaware corporation, with the central mandate to eliminate the gap between the music DJs play and the tracks consumers purchase.
Symposium Productions Acquisition of FEED Networks LLC Complete
NASSAU, Bahamas, May 2, 2008 (PRIME NEWSWIRE) -- Symposium Productions Corp. (Pink Sheets:SYPJ) today announced that it completed the acquisition of 100% of the issued and outstanding shares of FEED Networks LLC.
WSFS Buys Majority Ownership in Reverse Mortgage Business
WILMINGTON, Del., May 2, 2008 (PRIME NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company of WSFS Bank, today announced the purchase of a majority stake in 1st Reverse Financial Services, LLC (1st Reverse), an Illinois-based reverse mortgage company specializing in wholesale reverse mortgage lending through brokers and financial institutions throughout the United States. 1st Reverse generates fee income by providing high-touch training, underwriting and loan processing to its bank and mortgage broker customers to enable them to offer reverse mortgages in their markets.
ANSYS and Ansoft Receive Early Termination of Hart-Scott-Rodino Act Waiting Period for Proposed Merger
SOUTHPOINTE, Pa., May 2, 2008 (PRIME NEWSWIRE) -- ANSYS, Inc. (Nasdaq:ANSS) today announced that the U.S. Department of Justice and Federal Trade Commission have granted early termination of the Hart-Scott-Rodino (HSR) waiting period for ANSYS' proposed acquisition of Ansoft Corporation (Nasdaq:ANST). ANSYS currently expects to close the acquisition in the second quarter of 2008.
BTD Manufacturing Acquires Miller Welding & Iron Works, Adds Heavy Metal Fabrication and Wind Energy Capabilities
DETROIT LAKES, Minn., May 1, 2008 (PRIME NEWSWIRE) -- BTD Manufacturing, Inc., Detroit Lakes, Minn., announced today that it has acquired Miller Welding & Iron Works of Washington, Ill. BTD Manufacturing is an operating company of Otter Tail Corporation (Nasdaq:OTTR). The transaction, the terms of which were not disclosed, involved an exchange of cash for assets.
Renovis Stockholders Approve Acquisition by Evotec
HAMBURG, Germany, May 1, 2008 (PRIME NEWSWIRE) -- Evotec AG (Frankfurt:EVT) today announced that the stockholders of Renovis, Inc. (Nasdaq:RNVS) approved the adoption of the merger agreement with Evotec at a special meeting of Renovis stockholders held today. There is no requirement for Evotec to obtain approval of the transaction by its stockholders. The acquisition is expected to close by May 5, 2008.
First Clover Leaf Financial Corp. to Acquire Partners Financial Holdings, Inc.
EDWARDSVILLE, Ill., May 1, 2008 (PRIME NEWSWIRE) -- First Clover Leaf Financial Corp. ("First Clover Leaf") (Nasdaq:FCLF) and its subsidiary, First Clover Leaf Bank, FSB, announced today that they have entered into a definitive agreement to acquire Partners Financial Holdings, Inc. ("Partners") and its subsidiary, Partners Bank, by merger of Partners into First Clover Leaf. Following the merger, Partners Bank will be merged into First Clover Leaf Bank, resulting in a combined organization with over $550 million in assets. The holding company resulting from the transactions will be known as First Clover Leaf Financial Corp. and the resulting federal savings bank will be known as First Clover Leaf Bank.
RSM EquiCo Capital Markets Leads Negotiations as Orval Kent Food Company Acquires Fresh Creative Foods
CHICAGO, May 1, 2008 (PRIME NEWSWIRE) -- Orval Kent Food Company Inc., a portfolio company of Questor Management Company, has acquired Fresh Creative Foods LLC. Terms of the transaction were not disclosed.
Ariel Way, Inc. Closes Acquisition of Lime Truck
VIENNA, Va., May 1, 2008 (PRIME NEWSWIRE) -- Ariel Way, Inc. (OTCBB:AWYI) announced today that on April 30, 2008 the Company completed the closing of the acquisition of Lime Truck, Inc., a Dallas, TX based out-of-home advertising company specializing in nationwide advertising, marketing and public relations campaigns based on mobile advertising trucks (www.limetruck.com). The transaction agreement will be filed separately with the SEC.
Micro Focus International plc to Acquire NetManage, Inc.
CUPERTINO, Calif., May 1, 2008 (PRIME NEWSWIRE) -- Micro Focus International plc (LSE:MCRO) ("Micro Focus"), the leading provider of enterprise application management and modernization solutions, and NetManage, Inc. (Nasdaq:NETM) ("NetManage"), a software company that provides the fastest way to transform legacy applications into new Web-based business solutions, jointly today announced that their respective Boards of Directors have unanimously approved, and both companies have signed, a definitive agreement for Micro Focus to acquire NetManage in a merger transaction.
Legacy Reserves LP Closes Acquisition and Receives Increase to Its Borrowing Base
MIDLAND, Texas, April 30, 2008 (PRIME NEWSWIRE) -- Legacy Reserves LP (Nasdaq:LGCY) today announced it has closed the previously announced acquisition of primarily Permian Basin and Mid-continent properties for $50.6 million cash and 1,345,291 newly issued units representing limited partner interests in Legacy Reserves LP to the seller. The transaction is subject to customary post closing adjustments.
Capital Product Partners L.P. Completes Acquisition of M/T Aristofanis
ATHENS, Greece, April 30, 2008 (PRIME NEWSWIRE) -- Capital Product Partners L.P. (Nasdaq:CPLP) announced today that it has completed the acquisition of the M/T Aristofanis, a 12,000 dwt double-hull product tanker, from Capital Maritime & Trading Corp., the owner of its general partner, for $23 million.
Semotus Solutions Enters Agreement to Acquire Flint
LOS GATOS, Calif., April 29, 2008 (PRIME NEWSWIRE) -- Semotus Solutions, Inc. (OTCBB:SMOA), a software solutions company for enterprise mobility, today announced that it has entered into a definitive agreement to acquire Flint Telecom, Inc. ("Flint"), an emerging player in the fast-growing telecom services market. Privately held Flint was founded by Vincent Browne, an experienced telecommunications entrepreneur along with a dedicated team of highly experienced telecom professionals.
Acquisitions News (via PrimeNewswire)
Acquisitions News (via PrimeNewswire)
Mowser remains go to DotMobi
Mowser has found a buyer. ... - Colin Gibbs
PlayPhone acquires Pitch Entertainment
Direct-to-consumer content vendor PlayPhone Inc. is expanding its footprint by merging with London's Pitch Entertainment Group. ... - Colin Gibbs
Sony strikes a chord with Gracenote purchase: Music technology firm powers apps from industry heavy hitters
Sony Corp. of America said it will pay roughly $260 million for Gracenote, a music metadata and technology firm. ... - Colin Gibbs
NXP and STMicroelectronics create wireless JV
NXP Semiconductors and STMicroelectronics will combine their wireless businesses to compete in a cutthroat environment for chip makers. The two companies said in ... - Phil Carson
RCR Wireless News
Mergers/Acquisitions from RCR
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