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Takeover Bids

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  • American Apparel's shares rose 8.4 percent to $1.16 in early trading on Monday. American Apparel Inc announced on Sunday it had adopted a new, one-year "poison pill" takeover defence with a 10 percent trigger but said this was not meant to deter bidders. "The board implemented the rights plan as an additional means to ensure that all American Apparel stockholders...

  • TOKYO, Dec 22- Japanese stocks briefly hit a two-week high on Monday morning, led by oil-related shares on rebounding crude prices and as Showa Shell Sekiyu surged over 25 percent on a media report of an impending takeover bid. Oil refiner Showa Shell Sekiyu was the highlight of the session, surging 25.6 percent after media reported the oil refiner was in talks to...

  • SYDNEY, Dec 22- Spanish infrastructure group Ferrovial SA has ended talks for a A $1.02 billion takeover of Transfield Services Ltd after the Australian company rejected a sweetened takeover offer. Transfield shares fell to a two-month low after Ferrovial said it was walking away from a deal. They were down 16.7 percent at A $1.50 at 0020 GMT.

  • Aer Lingus rejects bid by British Airways parent Thursday, 18 Dec 2014 | 11:24 AM ET

    DUBLIN— Irish airline Aer Lingus has rejected a takeover bid by the International Consolidated Airlines Group, the parent company of British Airways and Spain's Iberia. Those gains were sharply pared after IAG issued a statement confirming its proposal had been rejected by the Aer Lingus board, but the stock still finished Dublin trading up 9 percent at a...

  • Dec 17- Catlin Group Ltd, operator of the biggest syndicate in the Lloyd's of London insurance market, said it received a takeover approach from XL Group Plc that valued the company at 2.53 billion pounds. Catlin's shares rose as much as 17 percent to a record high of 679.50 pence on the London Stock Exchange on Wednesday. The stock was the top percentage gainer on...

  • European shares slip again; CGG sinks 30 pct Monday, 15 Dec 2014 | 10:05 AM ET

    *CGG tumbles as Technip walks away. Shares in seismic oil and gas services group CGG were the top losers across Europe, plummeting 30 percent as rival Technip abandoned a takeover bid. Shares in Banca Monte dei Paschi di Siena fell 6.7 percent, hitting an all-time low on speculation it will need to raise capital to meet European Central Bank rules.

  • Riverbed Technology accepts $3.6B takeover bid Monday, 15 Dec 2014 | 9:39 AM ET

    SAN FRANCISCO— Private equity firm Thoma Bravo and a Canadian teacher pension will pay about $3.6 billion to take Riverbed Technology private a couple months after the computer networking equipment maker promised a thorough review of its business. The San Francisco company said Monday that its stockholders will receive $21 in cash for each share from Thoma...

  • European shares halt sell-off; CGG sinks 33 pct Monday, 15 Dec 2014 | 7:59 AM ET

    *CGG tumbles as Technip walks away. Shares in seismic oil and gas services group CGG sank 33 percent as rival Technip abandoned a takeover bid after talks with CGG collapsed. "Following last week's slide, the best we can hope for is a' Santa Claus retracement' instead of the traditional rally," FXCM analyst Vincent Ganne said.

  • *Repsol executives in Calgary for bid talks- source. MADRID, Dec 12- Spanish oil major Repsol SA is finalising an offer for Canada's Talisman Energy Inc and has sent executives to Calgary to step up talks, a source with knowledge of the matter said on Friday. Shares in the Calgary- based company, Canada's fifth-largest independent petroleum producer, rose 33.6...

  • LISBON, Dec 5- Telecoms group Altice's plan to buy the Portuguese operations of Brazil's Oi for 7.4 billion euros depends on winning the backing of shareholders in Portugal Telecom SGPS, the holding company which owns 25.6 percent of Oi, a spokesman for Portugal Telecom said. Lisbon- listed Portugal Telecom SGPS is the target of a 1.2 billion-euro takeover offer...

  • Vodafone plays down chance of Liberty deal Wednesday, 3 Dec 2014 | 1:31 PM ET

    LONDON, Dec 3- Vodafone has met with analysts and investors this week to calm fears it could make a multi-billion dollar takeover bid for Europe's biggest cable company Liberty Global, according to people present. Shares in Vodafone fell on Monday after people familiar with the situation said the world's second-biggest mobile operator was considering its...

  • *Saipem, Salzgitter slide as Russia scraps pipeline project. BP featured among the top gainers, up 3.6 percent, with several traders citing market talk of a takeover bid from rival Royal Dutch Shell. Shares in Italian oil services group Saipem and German steelmaker Salzgitter bucked the trend, tumbling 8.6 percent and 8 percent respectively after Russia...

  • PARIS, Dec 1- Chinese billionaire Guo Guangchang is set to sweeten his bid for the struggling French holiday group Club Mediterranee to trump Italian tycoon Andrea Bonomi's offer in France's longest-running takeover battle. A source familiar with the $1 billion- plus bid process told Reuters that Guo's conglomerate, the Shanghai- based Fosun, was set to raise...

  • UPDATE 1-Kellogg tops Abraaj offer for Egypt's Bisco Misr Wednesday, 26 Nov 2014 | 3:58 AM ET

    CAIRO, Nov 26- Kellogg Co, the world's biggest breakfast cereal maker, has offered 908.5 million Egyptian pounds for Egyptian cake and biscuit maker Bisco Misr, setting up a likely bidding war with a UAE investment company. UAE- based Abraaj Investment Management offered 850 million pounds this month for the Egyptian firm, which earlier refused a takeover bid...

  • UPDATE 1-EE owners confirm takeover talks with BT Wednesday, 26 Nov 2014 | 3:23 AM ET

    A source familiar with the situation had said EE, owned by Deutsche Telekom and Orange, was the other party. "Deutsche Telekom and Orange, the joint shareholders of EE, regularly analyse the development of the market in which EE operates, evaluating various strategic options which have the potential to create value for EE's shareholders and strengthen the...

  • *Oil services bounce back on Technip's offer for CGG. France's CGG jumped 23 percent on news of a 1.47 billion euro takeover offer from larger rival Technip, a bid that CGG rejected. Technip shares fell 6.9 percent, while Fugro surged 5.6 percent, Saipem rose 4 percent and TGS gained 4.4 percent.

  • *Technip offers 28 pct premium on CGG's closing price. *Technip shares down 6.5 pct, CGG up 26 pct. PARIS, Nov 20- French oil services firm CGG has rebuffed a 1.47 billion euro takeover offer from larger rival Technip, which wants to broaden the range of services it can offer cost-wary oil companies.

  • *Oil services bounce back on Technip's offer for CGG. France's CGG jumped 23 percent on news of a 1.47 billion euro takeover offer from larger rival Technip, a bid that CGG rejected. Technip shares fell 6.5 percent, while Fugro surged 4.1 percent, Saipem rose 2.2 percent and TGS gained 2.1 percent.

  • US STOCKS-S&P 500 hits record again; Actavis rallies Tuesday, 18 Nov 2014 | 11:01 AM ET

    NEW YORK, Nov 18- U.S. stocks rose on Tuesday, lifting the S&P 500 to a record high, boosted by healthcare after Actavis' acquisition of Allergan triggered bullish analyst notes. Allergan on Monday accepted a $66 billion takeover bid from Actavis Plc in cash and stock. At least two analysts raised Actavis' price target, one to as high as $300.

  • Nov 17- Botox maker Allergan Inc on Monday accepted a $66 billion takeover bid from Actavis Plc, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc.. Besides the higher price tag, the Actavis deal came with only $400 million in R&D cuts for Allergan, far less than the $900 million decrease...