Acquisitions and mergers
Indian investors rushed to purchase shares in the country's largest company by market capitalisation, Oil and Natural Gas Corporation, after the government announced a $2.5 billion sale of a 10% stake. The sale was fully subscribed within 10 minutes, providing a boost to a market that has
Acquisitions and mergers
Psion chairman David Potter has criticized major shareholder Phoenix Asset Management Partners for its opposition to the sale of the company's 31 per cent stake in Symbian, a mobile phone software developer, to Nokia. Potter claims Psion has better information about Symbian's future performance and is
Acquisitions and mergers
Psion, the mobile computing company, is poised to resume dividend payments this year if it successfully disposes of its 31.1 percent stake in the Symbian joint venture. The sale, which involves Psion's stake being bought out by Nokia, is expected to yield Pounds 135.7 million, alleviating
Acquisitions and mergers
The French utilities group, Suez, has abandoned a planned sale of assets worth about €3bn-€4bn ( $3.7bn-$5bn) to its majority-owned Belgian energy producer, Electrabel, due to disagreement over price and uncertainty over market liberalisation. The sale would have included several key assets, including Elyo, the French energy services
Acquisitions and mergers
Lawyers for Hollinger International, the US-listed publishing group, have suggested that the company could face material default or insolvency if it is not sold to the Barclay brothers, a British billionaire twin duo. The $466.5m deal, orchestrated by Conrad Black, has been opposed by Hollinger International, which holds a
Acquisitions and mergers
Kanebo, a struggling Japanese conglomerate, has abruptly called off its planned $3.8 billion sale of its cosmetics business to rival Kao, citing union pressure and opposition. Instead, the company will seek the support of the Industrial Revitalisation Corporation (IRCJ) to cut its $5.2 billion in debts and restore
Acquisitions and mergers
France Telecom is set to release its full-year results, which are expected to be overshadowed by concerns over the company's missed opportunity to acquire a minority stake in Wanadoo, its 71% owned subsidiary. Wanadoo's share price has risen significantly in the past year, making a potential
Acquisitions and mergers
EDS has halted plans for the initial public offering of its UGS-PLM software group, a move that could have raised up to $1.2 billion, and is now looking to sell the business privately. This decision comes as the company continues to recover from a series of strategic errors that
Business planning
B&Q, a leading UK DIY retailer, has started selling saunas in response to customer demands for more ways to pamper themselves at home. This move marks a significant expansion into the spa products market, where most sales are currently dominated by niche outlets. The saunas will be priced
Business planning
Henkel, a German consumer products group, announced a positive outlook for 2004, driven by cost cuts and product innovation. The company's stable of well-known brands, including Pritt and Loctite glue, Schwarzkopf hair care products, and others, are expected to benefit from the forecasted growth. Analysts see Henkel as
Acquisitions and mergers
The Barclay brothers, Alec and David, have announced plans to finance their audacious takeover bid for Hollinger Inc, the Toronto-based holding company controlled by Conrad Black. The brothers' company, Press Holdings International, will offer CDollars 605.5m (Dollars 466.5m) for Hollinger Inc, including CDollars 181.7m of debt.
Acquisitions and mergers
The Barclay brothers, Sir David and Sir Frederick, have agreed to acquire Hollinger Inc, the controlling shareholder behind The Daily Telegraph, Chicago Sun-Times, and other titles, for $466.5m. The deal is subject to completion, which may be hindered by a string of lawsuits against Lord Black, the former chairman
