Going for gold
Article Abstract:
Ghanaian mining concern Ashanti had to overcome a number of practical difficulties in making a takeover bid for Cluff Resources. Ashanti's legal and financial advisers were not in the same location as its management team, while Cluff's main assets were divided between three African countries. Ashanti also had to deal with the 26% stake in Cluff held by Hutchison Whampoa. However, the deal was successfully completed, and Ashanti has been able to make a $250 million convertible offering on the New York Stock Exchange.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
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Strong first quarter sees premiums holding steady
Article Abstract:
Low interest rates and strong company liquidity have been the main factors in ensuring strong takeover activity in the UK public sector in the first quarter of 1996. In the period, four companies were the subject of hostile takeover bids, with particular interest being shown in the 3.6 billion pounds sterling bid by Granada for Forte. Bids for regional electricity companies SEEBOARD and South Wales Electricity failed to live up to analysts' expectations.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
User Contributions:
Comment about this article or add new information about this topic: