Financial News

UPDATE 1-Suncor, Petro-Canada get U.S. approval for merger
15 Apr 2009 source: iii.co.uk

CALGARY, Alberta, April 15 (Reuters) - U.S. antitrust authorities have approved Suncor Energy Inc's C$18.4 billion ($15.2 billion) takeover of Petro-Canada, a ruling that reflects the companies' relatively small U.S. operations. The Federal Trade Commission made the announcement on Wednesday in a listing of approved deals issued several times a week. Suncor and Petro-Canada announc ...

UPDATE 2-Doubts over EU challenge to VW law hit VW shares
15 Apr 2009 source: iii.co.uk

BRUSSELS/FRANKFURT, April 15 (Reuters) - Shares in carmaker Volkswagen fell on Wednesday on suggestions the European Commission had lost its appetite to confront Germany over a law protecting the automaker from a complete takeover. Internal Market Commissioner Charlie McCreevy launched legal action against Germany last June for failing to properly amend the law, which the European Court of ...

EU Commission still mulling action on "VW Law"
15 Apr 2009 source: iii.co.uk

BRUSSELS, April 15 (Reuters) - The European Commission is keeping the door open to stepping up legal action against Germany over a law that has shielded Volkswagen from takeover, a Commission official said on Wednesday. Internal Market Commissioner Charlie McCreevy launched legal action against Germany last June for failing to amend properly the so-called VW Law, which the European Court o ...

Total Canada says UTS bid unlikely to rise-paper
15 Apr 2009 source: iii.co.uk

April 15 (Reuters) - Total SA does not expect to increase its offer for UTS Energy Corp, Mike Borrell, president of the French oil multi-national's Canadian subsidiary, told the Financial Post. "We don't see a scenario where Total would increase further this offer, and I think that's important," Borrell told the paper, adding that UTS fits well, but is not essential to Total's lo ...

IL&P mulls spinning off banking arm -report
15 Apr 2009 source: iii.co.uk

DUBLIN, April 15 (Reuters) - Irish Life & Permanent is considering a reorganisation of its business units that could see its banking arm, permanent tsb, being spun off, the Irish Independent newspaper reported on Wednesday. "We continuously review and consider options ... but we don't comment on individual speculation," a spokesman for the bancassurer said. Irish Lif ...

BRIEF-COLEXON Energy makes takeover offer for Denmark's Renewagy ...
15 Apr 2009 source: iii.co.uk

FRANKFURT, April 15 (Reuters) - COLEXON Energy AG: SAYS HAS DECIDED TO SUBMIT A VOLUNTARY TAKEOVER OFFER TO THE SHAREHOLDERS OF Renewagy A/S SAYS UNDER THE TERMS OF THE PROPOSED OFFER RENEWAGY SHAREHOLDERS WOULD receive 5 newly issued shares of COLEXON Energy AG for 27 Renewagy shares ((Frankfurt Newsroom; +49 69 7565 1272)) (For more news, please click here) COPYRIGHT Copyri ...

Glance-PRESS DIGEST - British business press - April 15
15 Apr 2009 source: iii.co.uk

The Times ANGLO IN DEEP WATER, FISHING FOR ALASKA MINE APPROVAL Anglo American is poised to face protests on Wednesday over its proposed new mine in Bristol Bay, Alaska, amid concerns that pollution from it could hit the fishing industry, worth 154 million pounds a year. But a potential clash with Sarah Palin, the state governor and former vice-presidential candidate, appears to concern Anglo th ...

UPDATE 3-Roche says Genentech's Levinson to stay on board
15 Apr 2009 source: iii.co.uk

LOS ANGELES, April 14 (Reuters) - Roche Holding AG , which last month acquired Genentech Inc, said on Tuesday that Arthur Levinson, the biotech company's chief executive, would stay on as chair of a new Genentech board. Levinson will no longer be CEO, but will be charged with steering integration of the two companies, serve as a scientific adviser and be nominated to the Roche board, the S ...

UPDATE 1-Terra bolsters defense with meeting change
14 Apr 2009 source: iii.co.uk

NEW YORK, April 14 (Reuters) - Fertilizer maker Terra Industries Inc, which is trying to fend off a hostile takeover by rival CF Industries Holdings Inc, amended its bylaws on Tuesday to remove a requirement that it hold its annual meeting by May 15. CF Industries has nominated a slate of three directors to Terra's board. CF is itself the target of a hostile takeover by Agrium Inc  ...

UPDATE 3-SEC eyes whether BofA broke law on Merrill bonuses
14 Apr 2009 source: iii.co.uk

WASHINGTON, April 14 (Reuters) - The U.S. Securities and Exchange Commission is reviewing whether Bank of America Corp violated federal securities law by failing to disclose Merrill Lynch & Co's plan to pay $3.62 billion of bonuses before the companies merged. The regulator is "carefully reviewing" Bank of America's disclosures, SEC Chairman Mary Schapiro said, responding in  ...

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