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Takeover Bids

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  • Oct 24- Banana producer Chiquita Brands International Inc said it would start takeover talks with Brazil's Grupo Cutrale and Safra Group after its shareholders voted against a proposed merger with Irish rival Fyffes Plc. Fyffes' shares fell 5 percent to 94 euro cents in Dublin after the collapse of the deal, which would have created a company domiciled in...

  • Oct 24- Banana producer Chiquita Brands International Inc said it would start takeover talks with Brazil's Grupo Cutrale and Safra Group after its shareholders voted against its proposed merger with Irish rival Fyffes Plc. Fyffes' shares were down 9 percent at 90 euro cents in Dublin. Fyffes and Chiquita said recently that the implied value of their potential...

  • Trading restriction halts Portugal Telecom slide Thursday, 23 Oct 2014 | 10:48 AM ET

    LISBON, Portugal— A ban on the short-selling of Portugal Telecom shares helped the stock rebound following a plunge that analysts say leaves it vulnerable to a takeover bid. The shares spiked 11 percent at 1.09 euro Thursday in Lisbon, ending days of losses, which saw the company's market value slump to below 900 million euros. The troubles at Portugal Telecom...

  • Investing on speculation     Wednesday, 22 Oct 2014 | 3:28 PM ET

    Leigh Drogen, Estimize CEO, discusses his "Mergerize" platform, and CNBC contributor Herb Greenberg, discuss if it is ever a good idea to invest in a company based on takeover speculation.

  • BGC launches tender offer for GFI shares Wednesday, 22 Oct 2014 | 1:56 PM ET

    NEW YORK— BGC Partners Inc.' s hostile takeover bid for derivatives and currency brokerage firm GFI Group Inc. began Wednesday with the launch of its tender offer. GFI agreed in July to be acquired by CME Group in a $4.55 per-share deal. Shares of New York- based BGC Partners rose 1 percent to $7.57 by early afternoon, amid a modest market dip.

  • BOSTON, Oct 20- Billionaire investor William Ackman, whose fund is the largest shareholder in Allergan Inc., and Valeant Pharmaceuticals said the botox maker's Chief Executive Officer David Pyott tried to discredit Valeant as it was making a hostile takeover bid, court documents showed. Ackman's hedge fund has been working with Valeant for months to craft a...

  • AbbVie to pay Shire $1.64B fee over nixed merger Monday, 20 Oct 2014 | 5:49 PM ET

    NORTH CHICAGO, Ill.— AbbVie is walking away from its proposed $55 billion takeover bid of Shire and has agreed to pay the rival drugmaker a $1.64 billion breakup fee. The two companies said Monday that they deal was off following the decision last week by AbbVie's board to withdraw support from the proposed acquisition. North Chicago- based AbbVie had envisioned...

  • Oct 20- Valeant Pharmaceuticals Inc Chief Executive Michael Pearson said in an interview with Reuters on Monday that he is confident a revised bid for Allergan Inc will be worth over $200 per share, once Valeant's stock rises and with cash added to the offer. Pearson said Valeant could make a revised offer at any time and that the company's stock has been hurt by...

  • Valeant's bid for Allergan     Monday, 20 Oct 2014 | 7:22 AM ET

    Michael Pearson, Valeant Pharmaceuticals CEO, shares his thoughts on allegations Allergan released false and misleading information.

  • Shares in Dutch feed company Nutreco surge Monday, 20 Oct 2014 | 5:23 AM ET

    AMSTERDAM— Shares in Dutch animal and fish feed supplier Nutreco NV have surged after the company announced a management-backed 2.69 billion takeover offer from privately-owned trading company SHV Holdings. SHV's 40- euro per share cash offer for Nutreco represents a 42- percent premium to shares' closing price Friday. Nutreco CEO Knut Nesse said Monday...

  • Oct 17- Activist investor Elliott Advisors UK Ltd nominated seven candidates for election to Family Dollar Stores Inc's board as it looks to push for a sale of the dollar store operator to bigger rival Dollar General Corp.. Dollar General's offer is "clearly superior" to Dollar Tree Inc's bid, Elliott said in a letter to Family Dollar's board and Chief Executive...

  • Buying an airline for 88 cents Thursday, 16 Oct 2014 | 10:52 PM ET

    Airline Virgin Australia has coughed up a whopping one Australian dollar to buy the 40 percent of Tiger Australia it didn't already own.

  • KUALA LUMPUR, Oct 15- Malaysian Airline System Bhd, the loss-making airline hit by two separate jet disasters this year, said on Wednesday the buyout offer from its major shareholder is fair and minority shareholders should accept the offer. MAS's directors recommended the move after its audit committee, under the advice of independent adviser AmInvestment...

  • *Qualcomm beats out possible bidder Microchip for CSR. *CSR purchase helps Qualcomm diversify beyond phones. Qualcomm Inc agreed to buy CSR Plc for $2.5 billion, offering what it hopes is a knock-out blow to win the British Bluetooth specialist which is growing in areas like automotive and wearable devices.

  • CHICAGO, Oct 13- Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd, but analysts said any such deal would face significant regulatory and other hurdles. The Wall Street Journal reported on Sunday that the No. 2 Canadian railroad made a bid last week for Jacksonville,...

  • PARIS, Oct 13- French low-cost telecoms operator Iliad abandoned its attempt to buy T-Mobile US on Monday because of resistance from majority owner Deutsche Telekom, becoming the third bidder to walk away in three years. "The Iliad group announces that it puts an end to its project of acquiring T-Mobile US, following exchanges with Deutsche Telekom and selected...

  • CHICAGO, Oct 13- Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd, but analysts said any such deal would face significant regulatory and other hurdles. The Wall Street Journal reported on Sunday that the No. 2 Canadian railroad made a bid last week for Jacksonville,...

  • CHICAGO, Oct 13- Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd, but analysts said any such deal would face significant regulatory and other hurdles. According to the report in the Wall Street Journal late on Sunday, the No. 2 Canadian railroad made a bid last week for...

  • MADRID, Oct 13- Spain's Gas Natural said on Monday it was leaving its 2015 payout plans unchanged after announcing a $3.3 billion takeover offer for Chile's biggest electricity distributor Compania General de Electricidad. Analysts at Barclays said in a note that the acquisition seemed expensive and posed questions on Gas Natural's dividend policy.

  • *Gas Natural to launch 4,700 peso per share bid for CGE. MADRID/ SANTIAGO, Oct 12- Spain's Gas Natural on Sunday said it would launch a $3.3 billion takeover offer for Chile's biggest electricity distributor Compania General de Electricidad, in a bid to boost its presence in growing Latin American markets. As part of the deal with those investors, Gas Natural will...