×

European Stocks to Watch: Reuters

Shares of news provider Reuters jumped 26.6% after it reported Friday it has received an offer from an unnamed company interested in acquiring the U.K.-listed company.

It is unclear if Reuters will receive an offer complying with Reuters’ constitution which requires that no shareholder may own 15% or more of Reuters shares and a single “golden share” held by the founder of Reuters can block any hostile approach.

To be successful the bid has to be agreed by the Reuters Founder Share Company.

Also Active in European Trading:

EMI (up 9%) Shares in the British music group jumped on Friday after the company announced that it had received a number of takeover approaches. One Equity Partners was reported by the Financial Times as being one of the suitors.

Micro Focus International (up 8.6%) The U.K. software provider’s shares increased after it posted a positive trading update and said that it had bought U.S. peer Acucorp for 30 million euros ($40.7 million).

Hanson (up 5.3%) Germany’s HeidelbergCement said it might make a bid for the British building materials group and Goldman Sachs upgraded its stock to “neutral” from “sell.”

Vallourec (up 4.8%) Shares of the French seamless tubes maker led the CAC-40 after the company reported its first quarter net profit increased by 11.6%.

Lottomatica (up 5.1%) Italy’s gaming company reported an 8.7% rise in its first-quarter profit boosted by the U.S. lottery company GTech, which it acquired last year.

Boliden (up 5.4%) The Swedish mining and smelting firm said Thursday afternoon it will buy back 10% of its shares before its annual general meeting in 2008.

Altana (down 54.3%) The pharmaceuticals and specialty chemicals group traded ex-dividend Friday after the company approved yesterday to pay a spectacular dividend of 34 euros ($46.2) per share with a total payout amount of 4.73 billion euros ($6.2 billion).

Siemens (down 1.3%) Siemens’ shares dipped slightly on news that Nokia Siemens plan to cut 9,000 jobs by 2010 and outgoing chief executive Klaus Kleinfeld selling 69,735 Siemens shares worth 6.3 million euros ($8.55 million).

Royal Bank of Scotland (down 1.4%) The RBS chief executive will meet with ABN Amro’s chairman on Friday in order to discuss an agreed bid, after a court ruled Thursday that the Dutch bank must freeze the sale of its U.S. unit LaSalle.