Cable: We won’t stop bid for BP July 12, 2010 THE UK government can do very little to stop a takeover of BP, business secretary Vince Cable told City A.M. yesterday, as suggestions of a large scale approach for the embattled oil major intensified. Cable said that under the Enterprise Act of 2002, the UK government only had a narrow window to intervene and that [...]
Cadbury open to offer talks November 18, 2009 ITALIANchocolate maker Ferrero and US rival Hershey yesterday both confirmed that they were holding early talks about launching an offer for Cadbury. Cadbury, the target of a £9.8bn hostile bid from Kraft, said it would be open to a fair offer which delivers full value. Hershey told the City that it was “reviewing its options”, [...]
Chloride considers new Emerson bid June 29, 2010 POWER protection firm Chloride said last night a new takeover bid from American rival Emerson was a superior proposal to the deal already made with Swiss firm ABB. Emerson raised its offer by more than a third to 375p per share yesterday, surpassing a prior board agreement with Swiss firm ABB for 325p per share. [...]
Blank on the long list for M&S chair May 16, 2010 HEADHUNTERS searching for a replacement to Sir Stuart Rose at Marks and Spencer have earmarked former Lloyds chairman Sir Victor Blank as a potential candidate to chair the board. JCA Group founder Jan Hall is currently putting together a long list of candidates ready for the board to whittle down. Other names that have been [...]
Cadbury keen on Hershey as a bid battle with Kraft looms November 29, 2009 A BID battle looks set to break out for takeover target Cadbury after it emerged Hershey had lined up £4bn for a possible approach and Cadbury’s boss said the UK firm may fit well with the US chocolate giant. Hershey, known for its Hershey bars and Kisses in the US, is understood to have lined [...]
Ferrero and Hershey eye up Cadbury November 17, 2009 ITALIAN confectionary firm Ferrero and US-based Hershey are in talks over a potential joint bid for Cadbury, threatening to derail Kraft’s £9.8bn hostile bid for the UK confectioner. A source familiar with the talks said that the discussions are “very early in the process”. But the news is the clearest sign yet that there could [...]
The top team must drive a hard bargain with News Corporation June 15, 2010 THE eight independent directors charged with looking after interests of BSkyB shareholders are an experienced stellar bunch. But the group will come under scrutiny because they may be perceived as being too close to News Corporation head Rupert Murdoch who was chairman of Sky until 2007, and was replaced by his son James. The gang [...]
The top team must drive a hard bargain with News Corporation June 15, 2010 THE eight independent directors charged with looking after interests of BSkyB shareholders are an experienced stellar bunch. But the group will come under scrutiny because they may be perceived as being too close to News Corporation head Rupert Murdoch who was chairman of Sky until 2007, and was replaced by his son James. The gang [...]
Income down at Freshfields July 7, 2010 MAGIC circle law firm Freshfields Bruckhaus Deringer has posted a double digit drop in revenue, marking the largest income fall reported by the elite UK legal group this year. Turnover for the year fell by 11 per cent to £1.14bn on the back of depressed transactional markets and a drop off in M&A activity. Freshfields [...]
Nestl eyes up Cadbury in bid war November 22, 2009 THE battle for Dairy Milk maker Cadbury has intensified with Swiss food giant Nestlé believed to be mulling a bid for the chocolatier. Cadbury’s flat rejection of Kraft’s £9.8bn bid has sparked a string of other companies – including Reese’s Pieces maker Hershey and Nutella maker Ferrero – into weighing up their options. Analysts have [...]