Britain's Granada Says It Is Considering Bids for Media Rivals
Date: 08 January 2000
By Andrew Ross Sorkin
Andrew Sorkin
Battle to rule Britain's commercial television industry begins when Granada Group says it intends to spoil recently planned $6.6 billion merger between Carlton Communications and United News and Media by trying to buy one of media companies; Granada says it will request permission from regulatory authorities to bid for either company; in November, Carlton and United News announced that it would create largest commercial television concern in Britain; at stake is control of Britain's Independent Television Network, or ITV, principal nationwide commercial television network; seven companies currently own ITV, including Granda, Carlton and United News (M)
Full Article
NEWS OF ABBOTT OPTION SENDS SUPERGEN SHARES UP
Date: 07 January 2000
By Bloomberg News
Bloomberg News
Shares of the biotechnology company SuperGen Inc. rose yesterday after Abbott Laboratories said it held an option to buy 49 percent of SuperGen for as much as $85 a share, almost triple the closing price on Wednesday. Shares of SuperGen rose $3.3125, to $33.25. Abbott said in a federal filing that it would buy $81.5 million of SuperGen stock at market prices. Abbott also holds an option to raise its stake to 49 percent of the outstanding common stock at $85 a share, making the total investment about $2 billion. The option is part of an agreement between the companies, announced in December, for the sale and distribution of SuperGen's cancer drug rubitecan.
Full Article
INVESTMENT FIRM TO ACQUIRE METAL CASTINGS COMPANIES
Date: 08 January 2000
By Bloomberg News
Bloomberg News
Carlyle Group Inc acquires Trimin Enterprises Inc and Tritech Precision Inc for 285 million Canadian dollar ($195 million); will pay 7.35 Canadian dollars a share for Trimin and 33 Canadian dollars a share for 55.5 percent of Tritech that is publicly traded (S)
Full Article
SYSCO AGREES TO BUY FRUIT AND VEGETABLE DISTRIBUTOR
Date: 08 January 2000
By Bloomberg News
Bloomberg News
Sysco Corp acquires FreshPoint Holdin
Full Article
DUPONT SAYS IT HAS REJECTED SEVERAL DRUG VENTURES
Date: 07 January 2000
By Bloomberg News
Bloomberg News
E. I. du Pont de Nemours & Company, the largest United States chemical company, said yesterday that it had rejected several large pharmaceutical joint ventures with other drug makers after it could not agree on financial terms. DuPont has been seeking ways to bolster its pharmaceutical unit, which is considered relatively small in the consolidating drug industry. Separately, DuPont named Kurt M. Landgraf chief executive of its DuPont Pharmaceutical unit. Mr. Landgraf had been executive vice president and chief operating officer of the parent company. Shares of DuPont rose $3.75, to $71.50.
Full Article
GOODYEAR SAYS IT WILL CUT 650 JOBS AT BRITISH TIRE PLANT
Date: 07 January 2000
By Bloomberg News
Bloomberg News
The Goodyear Tire and Rubber Company said yesterday that it would stop making Dunlop truck tires at one British plant and cut about 38 percent of the work force there as it seeks to reduce costs after forming joint ventures with Sumitomo Rubber Industries of Japan. Goodyear, the world's largest tire maker, said it would dismiss 650 workers at its Birmingham, England, plant, which employs 1,700. It said cost savings would be substantial, without providing details. Production of truck tires will move to other plants, though the Birmingham plant will keep making passenger and racing tires.
Full Article
W. W. GRAINGER WARNS ABOUT FOURTH-QUARTER EARNINGS
Date: 08 January 2000
By Bloomberg News
Bloomberg News
W W Grainger Inc warns that its fourth-quarter earnings might be as much as 45 percent less than estimates because of higher costs and inventory troubles (S)
Full Article