Financial News

The Australian Stock Exchange (ASX) has announced plans to merge with the country's futures exchange group, SFE. The deal will create the world's ninth-largest listed exchange, worth an estimated 5.3bn Australian dollars ($3.75bn; £2.14bn). Under the deal, ASX will pay A$16.93 per SFE share - valuing the firm at A$2.29bn - and take a controlling 59.8% share in the merged company. ASX said that it expects the deal to be earnings positive by 2008. "The businesses uniquely complement each ...

Hong Kong (Dow Jones) -- Patrick Corp. Ltd., Australia's largest seaport logistics company, has advised shareholders to reject a revised takeover bid from Toll Holdings Ltd., calling the new offer "flawed" and "unacceptable" given the rise in the Patrick's value since the original offer seven months ago. Toll, which is Australia's largest logistics company, revised its A$5.5 billion ($3.7 billi ...

Robert Lea, Evening Standard27 March 2006 SHARES in Associated British Ports are set to ride the crest of the wave today after reports that Britain's largest ports operator could be on the end of a £2.3bn takeover. WANT TO KNOW MORE? REPORT: Bush snubbed in P&O battle READER SERVICE: Share dealing TIPS & TACTICS: Midas' share picks OTHER STORIES Spring in house prices' ste ...

SHANGHAI (Dow Jones) -- TOM Online eyes a slice of Sina.com; reality TV looks for some real men; and Tencent finds a new way to keep kids in the cafes, this week in China. Rumors swirled in China last week that Li Ka-shing's TOM Group or its listed subsidiary TOM Online Inc (TOMO) planned to acquire a sizeable stake in Chinese portal Sina Corp (SINA) by buying the 19.5% owned by Shanda Interact ...

Simon Watkins, Mail on Sunday26 March 2006 INSURANCE giant Aviva is to seek another takeover target in an attempt to salvage its reputation and strategy after being forced to back away from an offer for rival Prudential. OTHER STORIES Dyke to raise ITV bid London Stock Exchange eyes Sweden Market report: Friday close Cruel threats from tyrant in luxury tower Abysmal phone firms fail  ...

Jon Rees, Mail on Sunday26 March 2006 THE consortium led by former BBC director-general Greg Dyke, whose offer for ITV was rejected last week, plans to raise its bid. MORE MONEY: Dyke plans to raise his bid for ITV OTHER STORIES London Stock Exchange eyes Sweden Market report: Friday close Cruel threats from tyrant in luxury tower Abysmal phone firms fail users Crackdown on mobile fees abroad WAYS TO SAVE MONEY 10 best credit card tips 10 best money-saving ti ...