Financial News

NEWARK, N.J. (AFX) - New Jersey utility regulators on Thursday submitted a counterproposal to the deal offered by two energy companies whose proposed, $17 billion merger would create the nation's largest utility company. Neither the companies, Chicago-based Exelon Corp. and Newark-based Public Service Enterprise Group, nor the state Board of Public Utilities, would release details of the proposal ...

By Siobhan Kennedy and Adam Pasick LONDON (Reuters) - A private equity consortium has approached UK cable company NTL about a potential 10 billion pound takeover, but there are no serious talks underway, sources close to the deal said on Thursday. The approach, which if successful would be the largest ever European leveraged buyout, is being led by U.S. buyout firm Providence Equity and includes U.S. firms Kohlberg Kravis Roberts and The Blackstone Group as well as Britain's Cinven. "It's sti ...

(Updates with full report) FRANKFURT (AFX) - German shares closed higher with MAN leading advancers on the back of takeover speculation surrounding Volvo, dealers said. The DAX 30 index closed 20.57 points or 0.35 pct higher at 5,833.51, after trading between 5,803.34-5,835.35 today. The MDAX was at 8,133.46, up 35.28 points or 0.44 pct, while the TecDAX was at 658.24, up 8.98 points or 1.38 pc ...

(Updates with full report) PARIS (AFX) - Share prices closed slightly higher, tracking early trade in the US, with technology sector gains offsetting a decline for index heavyweight Total, dealers said. The CAC-40 index closed up 7.53 points or 0.15 pct at 5,144.84, on volume of 4 bln eur. 27 CAC-40 stocks closed higher and 12 lower. On the Matif, August CAC-40 futures were trading up 6.5 poin ...

LONDON (AFX) - UK small caps closed in the blue following a positive day's trade, assisted by contract news and an agreed bid for Baggeridge Brick, dealers said. The FTSE Small Cap index closed 9 points ahead at 3,385.4, a daily high, while the FTSE 100 was 3.8 to the better at 5,900, off today's high of 5,915. Netb2b2 led the charge, adding 4 pence to 18-1/2 as the digital solutions group secur ...

(updates with Deustche Bank's shareholder position, background, current share price) MADRID (AFX) - Deutsche Bank AG holds a 5.236 pct of Endesa SA, according to a filing with stock market regulator CNMV, filed August 16. The bank noted that the stake includes the 1.830 pct it held in the utility August 4. The stake makes Deutsche Bank Endesa's third largest shareholder. Endesa is currently th ...

PARIS (AFX) - Share prices were flat-to-lower in late session, in line with early Wall Street trade, with technology sector gains offsetting a decline for index heavyweight Total, dealers said. At 4.10 pm, the CAC-40 index was down 2.10 points at 5,135.21, on volume of 2.5 bln euro. Despite the subdued tone on the French market today, dealers said the recovery of investor confidence is likely to ...

(Adds detail) LONDON (AFX) - Caffe Nero Group PLC, the UK's third-biggest chain of coffee shops, said it has received an "informal" takeover approach from its chief executive, Gerry Ford. But it stressed it is yet to receive any indicative offer. "The board will consider this approach but would highlight that matters are at a very early stage," it added. Caffe Nero issued i ...

LONDON (AFX) - German shares were flat midafternoon ahead of what is tipped to be an uninspiring start to trading on Wall Street this morning after the DJIA and the S&P 500 yesterday rose to their highest levels since May, dealers said. At 3.50 pm, the DAX 30 index was 1.24 points or 0.03 pct lower at 5,806.20, having drifted off a high of 5,829.12. The MDAX was at 8,136.40, up 38.34 points  ...

By Siobhan Kennedy and Adam Pasick LONDON (Reuters) - A private-equity consortium is holding talks with cable company NTL about a potential 10 billion pound takeover that would be Europe's biggest leveraged buyout, sources close to the deal said on Thursday. "It's just a question of NTL deciding whether or not they want to go ahead," one of the sources said. The group is led by U.S. buyout firm Providence Equity and includes fellow U.S. firms Kohlberg Kravis Roberts and The Blackstone Group,  ...