Analysts fault Pakhoed for failed merger

Article Abstract:

Koninklijke Pakhoed NV and Koninklijke Van Ommeren NV, Netherlands' two foremost storage, shipping and distribution companies, have cancelled their plans for a merger. The deal would have formed the largest chemicals-storage and shipping concern in the world, with 9,000 workers and sales exceeding $3.4 billion. The two firms said they cancelled the transaction due to some unacceptable requirements imposed by the European Commission. The merger task force of the European Commission required the two firms to shed off an additional 500,000 cubic meters of oil-storage capacity in the Rotterdam port.

Comment:

Storage, shipping and distribution co's plan to merge with Koninklijke Pakhoed NV is cancelled

Other Warehousing and Storage, Chemical Storage, Koninklijke Pakhoed NV, Koninklijke Van Ommeren NV

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KLM unveils buyback estimated at $490 million

Article Abstract:

KLM Royal Dutch Airlines has announced a buyback of common shares and participation certificates valued at an estimated $490 million. The shares and certificates are currently held by the Dutch government and KLM Flight Personnel Pension Fund Foundation. KLM intends to purchase the entire stake of the government made up of 4.8 million shares, plus 4.8 million participation certificates from the fund. KLM expects to conclude the deal on August 14, 1998, including securing the approval of the pension funds and priority shareholders.

Comment:

Announces a buyback of common shares and participation certificates valued at an estimated $490 million

Scheduled Airlines, Scheduled Air Transportation, Airlines, KLM Royal Dutch Airlines

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