Regulator amends company takeover normsSeptember 22nd, 2009 MUMBAI - The Securities and Exchange Board of India (SEBI) Tuesday revised its takeover norms, making it mandatory for holders of global depository receipts (GDR) or American depository shares (ADS) with voting rights to make an open offer if they acquired 15 percent shares of a public company. Under the existing SEBI takeover code, an entity or individual could not hold more than 15 percent shares in a listed company without making an open offer to acquire an additional 20 percent of that company's shares.
Bidders for British bus-train operator National Express sweeten offerSeptember 3rd, 2009 UK's National Express gets sweetened takeover bidLONDON — The partners bidding to take over National Express Group PLC on Thursday tabled a final indicative offer that values the bus and train operator at 765 million pounds ($1.25 billion). The offer by the Cosmen family and CVC Capital Partners Ltd.
UK rail and bus operator National Express receives $1.12 billion takeover approachAugust 27th, 2009 National Express receives takeover approachLONDON — National Express Group PLC, the train and bus operator that is handing back its loss-making London-Edinburgh rail franchises to the government, received Thursday a 688.5 million pound ($1.12 billion) takeover approach from its largest shareholder and CVC Capital Partners Ltd. The offer from CVC and the Cosmen family of Spain, which holds an 18.5 percent stake in National Express, values the company at 450 pence per share.
UK gas distributor Centrica takes majority 50.3 percent stake in takeover target VentureAugust 24th, 2009 Centrica ups stake in takeover target VentureLONDON — British gas distributor Centrica Group PLC said Monday it has accumulated a 50.3 percent majority stake in its takeover target, North Sea drilling company Venture Production PLC. Centrica said it bought 8.4 percent of Venture on Monday for 845 pence a share — the offer price under its 1.3 billion pound ($2.1 billion) takeover offer — taking the total it owns to 40.1 percent.
Agrium extends takeover bid for CF Industries until Sept. 22August 17th, 2009 Agrium extends CF Industries offerCALGARY, Alberta — Fertilizer company Agrium Inc. is again extending a deadline for its hostile offer to buy out rival CF Industries Holdings Inc.
ITC not to make takeover bid on East India HotelsJuly 24th, 2009 KOLKATA - Tobacco-to-hotels major ITC Ltd will not make any takeover bid on East India Hotels, a top company official said here Friday. ITC, through its wholly-owned investment arm Russell Credit Ltd, holds 14.98 percent share in EIH Ltd, which runs Kolkata's Oberoi Grand hotel.
Insurer Friends Provident rejects 1.7 billion pound takeover approach from Resolution Ltd.July 13th, 2009 Friends Provident rejects takeover offerLONDON — British insurance and pensions provider Friends Provident PLC said Monday that it had rejected a 1.7 billion pound ($2.7 billion) takeover offer from buyout company Resolution Ltd. Friends Provident said the proposed offer of 0.8 new Resolution shares for every Friends Provident share was "wholly inadequate."
It also said Resolution's governance structure would offer "less transparency" than its shareholders were used to "and a structure significantly different from recognized public company best practice."
Resolution said it was considering making another offer.
Broadcom drops takeover bid for Emulex, ending months-long struggleJuly 9th, 2009 Broadcom drops takeover bid for EmulexCOSTA MESA, Calif. — Broadcom Corp.
Emulex rejects sweetened Broadcom offer, releases preliminary results near top of forecastJuly 9th, 2009 Emulex rejects sweetened Broadcom offerCOSTA MESA, Calif. — Network gear maker Emulex Corp.
Metabolix board adopts shareholder rights plan aimed at guarding company from hostile takeoverJuly 7th, 2009 Metabolix adopts shareholder rights planCAMBRIDGE, Mass. — Bioscience company Metabolix Inc.
Broadcom raises hostile takeover offer for Emulex to about $912 million from $764 millionJune 30th, 2009 Broadcom boosts hostile takeover offer for EmulexIRVINE, Calif. — Chip designer Broadcom Corp.
Canada-based Agrium extends deadline for CF Industries offer to July 22June 23rd, 2009 Agrium extends deadline for CF Industries offerCALGARY, Alberta — Agrium Inc. said Tuesday it extended the deadline to acquire rival fertilizer company CF Industries Holdings Inc.
Advisory firm backs Emulex board in Broadcom's hostile takeover bidJune 22nd, 2009 Advisory firm backs Emulex board in Broadcom bidNEW YORK — The proxy advisory firm Glass Lewis & Co. has come down against a proposal by Broadcom Corp.
2nd-biggest US Pepsi bottler PepsiAmericas rejects buyout offer, says it is 'not acceptable'May 8th, 2009 2nd Pepsi bottler rejects PepsiCo buyout offerMINNEAPOLIS — PepsiAmericas is joining the larger Pepsi Bottling Group in rejecting a buyout offer from PepsiCo for its two biggest bottlers in North America. PepsiAmericas Inc.
Board of Costa Mesa-based Emulex rejects unsolicited takeover bid by rival BroadcomMay 4th, 2009 Emulex board rejects Broadcom takeover bidCOSTA MESA, Calif. — Computer network gear maker Emulex Corp.
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