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BAA rejects hostile Ferrovial bid
7 Apr 2006 source: bbc.co.uk

UK airports group BAA has rejected a hostile £8.75bn bid from Spanish construction group Ferrovial. The offer is at the same 810p a share that BAA rejected from Ferrovial on 17 March, saying it undervalued the firm. BAA is the UK's largest airports operator and runs London's Heathrow, Gatwick and Stansted. The UK Takeover Panel had given Ferrovial until 24 April to make a formal bid for BAA or walk away from any deal for six months. "We have already made our position on this offer crys ...


Ferrovial launches hostile bid for BAA
7 Apr 2006 source: today.reuters.co.uk

By Carlos Ruano and Louise Heavens MADRID/LONDON (Reuters) - Spanish construction firm Grupo Ferrovial (FER.MC: Quote, Profile, Research) launched an 8.75 billion pound hostile bid for BAA (BAA.L: Quote, Profile, Research) on Friday as it looks to bulk up in the booming European airports sector. BAA, which runs London's Heathrow, Gatwick and Stansted airports, rejected the 810-pence-a-share cash offer from Ferrovial's bidding consortium, which was pitched at the same level as a non-binding p ...


Tokyo exchange hints at overseas alliance
7 Apr 2006 source: ft.com

By David Turner in TokyoPublished: April 7 2006 09:12 | Last updated: April 7 2006 17:30The Tokyo Stock Exchange needs to seek a tie-up or merger with a US or other overseas exchange, the head of the world's second biggest bourse said on Friday. The comments by Taizo Nishimuro, TSE chairman and chief executive, show the organisation's global ambitions – reflected in its new drive to try to attra ...


NTL's Virgin deal includes Branson takeover defence
7 Apr 2006 source: today.reuters.co.uk

By Adam Pasick LONDON (Reuters) - Cable company NTL has secured an unusual clause in its deal to buy Richard Branson's Virgin Mobile carrier, which would bar Branson from backing a private equity takeover attempt against the NTL board's wishes. Branson is set to become NTL's largest shareholder after agreeing this week to exchange his Virgin Group's 71.2 percent stake in Virgin Mobile for a stake of about 11 percent in NTL plus 123.3 million pounds in cash and a seat on the board. Buried in t ...


Ice-cream deal swells Tower fortune
7 Apr 2006 source: manchesteronline.co.uk

BLACKPOOL Tower owner Trevor Hemmings saw the value of his fortune increase a little further on the back of a potential ice-cream deal. Mr Hemmings, a property and leisure tycoon who is thought to be worth in the region of £730m, benefited from an eight per cent share price rise after Richmond Foods - in which he holds a 13 per cent stake - revealed that it was in the early stages of takeover talks. Richmond is the maker of Nestle-branded ice-cream and Skinny Cow desserts and rivals Wall's as  ...


Lovefilm and Video Island link up
7 Apr 2006 source: bbc.co.uk

Online DVD rental firms Lovefilm and Video Island, the largest two such providers in the UK, are to merge. The firms will join under the Lovefilm brand, with the equal merger giving them greater scale to compete against US rivals Blockbuster and Amazon. It will also enable Lovefilm and Video Island, who are both backed by private equity groups, to generate marketing and operational savings. Video Island currently has 200,000 subscribers to Love Film's 120,000. The two groups also run the onl ...


nCipher shares slide after takeover collapse
7 Apr 2006 source: today.reuters.co.uk

LONDON (Reuters) - Shares in credit card and data security firm nCipher (NCH.L: Quote, Profile, Research) fell more than 5 percent in early trade on Friday after the Competition Commission scuppered a takeover by U.S. IT security firm, SafeNet. In early trade nCipher shares were down 5.35 percent at 239 pence, valuing the company at around 68 million pounds, but still well above the 200 pence le ...


FTSE heads higher as oils and Barclays gain
7 Apr 2006 source: today.reuters.co.uk

By Friedel Rother LONDON (Reuters) - Leading stocks headed higher on Friday, putting the FTSE 100 on track for its biggest weekly gain for over two months, as oil stocks rose on a sector upgrade and with bank Barclays up on bid speculation. Shares in Britain's third-biggest bank rose 1.5 percent as dealers pointed to talk a U.S. group might be interested in bidding for the group. No names were mentioned, and Barclays (BARC.L: Quote, Profile, Research) declined to comment. The speculation com ...


FTSE heads higher as oils, Barclays gain
7 Apr 2006 source: today.reuters.co.uk

By Friedel Rother LONDON (Reuters) - Stocks headed higher on Friday, putting the FTSE 100 on track for its biggest weekly gain for over two months, as oil stocks rose on a sector upgrade and with bank Barclays (BARC.L: Quote, Profile, Research) up on bid speculation. Shares in Britain's third-biggest bank rose 1.5 percent as dealers pointed to talk a U.S. group might be interested in bidding for the group. No names were mentioned, and Barclays declined to comment. The speculation comes a few ...


Market report: Friday 09.5|
7 Apr 2006 source: thisismoney.co.uk

This is Money7 April 2006 LEADING shares are seen opening little changed, with BAE Systems in focus following reports last night it is to sell its 20% stake in Airbus to EADS, dealers said. OTHER STORIES Bears give iSOFT a mauling Investors seek safe haven of gold New on the market Smaller companies report: Thursday close Who's mining the Footsie? THE EDITOR'S CHOICE TOP ADVIC ...


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