Financial News

By Tim Hepher PARIS (Reuters) - Shares of global steel makers surged after Arcelor (CELR.PA: Quote, Profile, Research) rejected Mittal's hostile $23 billion (13 billion pounds) bid, and both sides prepared to win support from shareholders in a public relations clash on Monday in Paris. A deal that could put many of Arcelor's 28,500 French jobs at risk also poses a sharp test for French Prime Minister Dominique de Villepin's policy of "economic patriotism", especially with employment likely to ...

By Julien Ponthus and Michele Sinner LUXEMBOURG (Reuters) - Arcelor's board unanimously rejected the $23 billion (13 billion pound) hostile takeover bid by rival Mittal Steel on Sunday, amid concerns about potential job losses and differences of opinion over strategy. "After a thorough review and analysis of the elements at its disposal, the Board has swiftly concluded that Arcelor and Mittal Steel do not share the same strategic vision, business model and values," Arcelor said in a statement. ...

SAN FRANCISCO (MarketWatch) -- Arcelor SA on Sunday rejected a $22.7 billion hostile takeover bid from Mittal Steel, saying that the deal, which would be the biggest ever in the steel industry, would only hurt the company, its shareholders and its customers.   MARKETWATCH TOP NEWS Data, especially jobs, should be strong Davos forum concludes on serious note Fed set to hike ...

Tom McGhie29 January 2006 THE bidding battle for control of international ports group P&O looks set to end as one of the most highly rated deals since records began in 1962. WANT TO KNOW MORE? READER OFFER: Compare and buy travel insurance OTHER STORIES Asda tries to calm its critics Bank of England fears over soaring debt Market report: Friday close Vulnerable HMV 'a takeove ...

Richard Dyson, Mail on Sunday29 January 2006 They were quick to call it David against Goliath when rebel policyholder Michael Hogan took on the board of Standard Life. The former banker did not like the way the giant mutual was run and he wanted to do something about it. Not surprisingly, the directors already there were not welcoming. WANT TO KNOW MORE? DEAL FINDERS: Sort out your insuranc ...

29 January 2006 MUSIC and books retailer HMV is reported to have become an £800m takeover target of private equity firm Permira. Financial advisers have been appointed by Permira which had intended to approach HMV as early as this week, according to The Sunday Times. TAKEOVER? HMV's poor Christmas has hit its share price, making it a potentially attractive takeover target WANT TO KNOW MORE? MARKET DATA: HMV share price DEAL FINDERS: Visit our Money Shop OTHER STORIES ...