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Takeover Bids

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  • 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...

  • LISBON, Nov 11- Angolan investor Isabel dos Santos said on Tuesday she was willing to change the terms of her bid to buy Portugal Telecom if necessary, to prevent Brazil's Oi from selling PT's assets to a rival party. Dos Santos launched the bid for Portugal Telecom, a holding company with a 25.6 percent stake in the combined Oi-PT company, partly in an attempt to...

  • LISBON, Nov 11- Brazil telecom company Oi issued a tough rejection of a bid for its merger partner Portugal Telecom on Tuesday, saying Angolan entrepreneur Isabel dos Santos' offer, which would prevent Oi from selling assets to a rival party, was "unacceptable." Dos Santos launched the bid for Portugal Telecom, a holding company with a 25.7 percent stake in the...

  • LISBON, Nov 10- Brazilian telecom company Oi said on Monday it would push ahead with plans to take over the operational assets of Portugal Telecom, dismissing a gambit by Angolan businesswoman Isabel dos Santos that could scupper the deal. Oi announced last year a deal to merge with Portugal Telecom's phone and cable TV networks. But dos Santos, who is listed by...

  • European shares inch up; M&A boosts Fugro, Nutreco Monday, 10 Nov 2014 | 4:12 AM ET

    *Nutreco rises as SHV sweetens takeover offer. *Fugro jumps after rival buys 15 pct stake. PARIS, Nov 10- European stocks inched higher early on Monday, reversing some of the previous session's losses, with Nutreco surging 14 percent as SHV sweetened its takeover bid for the Dutch animal feed and nutrition company.

  • PARIS, Nov 10- European stocks were steady at the open on Monday, taking a breather after the previous session's losses, with Nutreco surging 13 percent as SHV sweetened its takeover bid for the Dutch animal feed and nutrition company. At 0808 GMT, the FTSEurofirst 300 index of top European shares was up 0.1 percent at 1,346.70 points. Carlsberg gained 3.3 percent...

  • LONDON, Nov 6- Recent U.S. tax changes have weakened the case for companies like Pfizer to shift their tax bases overseas by striking so-called tax inversion deals, according to AstraZeneca's chief executive. AstraZeneca fended off a $118 billion takeover bid from its larger U.S. rival in May but there is speculation Pfizer may return after Nov. 26, when it is...

  • LONDON, Nov 6- AstraZeneca raised its 2014 sales forecast for the second quarter in a row on Thursday, as the delayed arrival of generic copies of its Nexium drug in the United States kept cash flowing from the heartburn and ulcer pill. Britain's second biggest drugmaker, which saw off a $118 billion takeover bid from Pfizer in May, now expects revenue to grow in low...