Greene King beats Fullers to seal deal for Capital Pub Co July 19, 2011 GREENE King is to buy the Capital Pub Company, beating rival Fuller, Smith and Turner to take over the business. The Capital Pub Company, which has 34 pubs, has accepted the £70m cash offer which trumped Fullers’ £54m takeover approach last month. The chain, which specialises in revamping pubs in affluent London areas, rejected Fullers’ [...]
KRAFT PROFITS BOLSTERED BY CADBURY November 4, 2010 KRAFT Foods chief executive Irene Rosenfeld reported better-than-expected quarterly profit yesterday and affirmed its outlook for this year and next, with growth fuelled by its acquisition of Cadbury. Kraft’s net income was $754m, or 43 cents per share, in the third quarter, down from $824m, or 55 cents per share, a year earlier.
Kraft beats results forecasts May 5, 2011 Kraft Foods reported a better-than-expected first-quarter profit yesterday, helped by price increases and cost cuts, but it tempered its full-year outlook after losing the contract to sell Starbucks coffee in US grocery stores. The maker of Cadbury chocolate, Oreo cookies and Philadelphia cream cheese said net revenue rose 11 per cent to $12.6bn (£7.7bn), though [...]
Kraft to raise food prices May 6, 2011 Kraft Foods has warned it will increase its product prices because of higher raw material costs. The Cadbury owner, which also produces Oreo cookies and Philadelphia cheese, made a first quarter profit of $799m (£488m). Kraft reported a strong start to 2011. Most of the commodities that Kraft uses to make its products have risen [...]
Shares in Avis spike on news of takeover June 14, 2011 SHARES in car hire firm Avis Europe leaped 58 per cent yesterday as investors rushed to benefit from its takeover by US counterpart Avis Budget. Avis Budget said it would pay £636m in cash for Avis Europe to reunite the two firms after 25 years and create a group with revenues of $7bn (£4.3bn). The [...]
Here’s to some green shoots in M&A May 12, 2011 Now I’m not one to want to follow inadvertently in the footsteps of Shriti Vadera, who famously said she had noticed the green shoots of recovery shortly after the banking crisis had reared its head in 2009. Vadera, who was then business minister to the Brown government, was roundly criticised for calling the recovery a [...]
Strettle keen to show improving Sarries belong at rugby’s top table May 25, 2011 TWELVE months ago, shortly before his impending move to Saracens, David Strettle watched them edged out in a pulsating Premiership final with Leicester. And he admits that part of him enjoyed seeing them lose. Now, as the north Londoners prepare to face the Tigers in a repeat of last year’s showpiece, the England winger’s wishes [...]
Takeover Panel poised to reject Cadbury Law October 20, 2010 THE Takeover Panel is today set to reject the most extreme changes to the takeover regime which were mooted in the wake of Kraft’s acquisition of Cadbury, as it concludes a sweeping investigation into the way large M&A deals are governed. The Panel is likely to shy away from the most radical proposals first put [...]
AMEC buys US peer to expand in North America May 18, 2011 OIL services and engineering firm AMEC has bought US industrial peer MACTEC for $280m (£173m) as it looks to expand its presence in North America. The British company bought the environmental services firm from its private equity backers in a cash deal. Georgia-based MACTEC has some 2,600 employees and 70 offices across the east coast [...]
AMEC buys US peer to expand in North America May 18, 2011 OIL services and engineering firm AMEC has bought US industrial peer MACTEC for $280m (£173m) as it looks to expand its presence in North America. The British company bought the environmental services firm from its private equity backers in a cash deal. Georgia-based MACTEC has some 2,600 employees and 70 offices across the east coast [...]