Cliveden backs acquisition bid by group including Bill Gates

Article Abstract:

Cliveden PLC is backing an offer to be purchased by consortium of US investors, called Destinations Europe, for $70.1 million after rival bidders dropped their offer. The consortium seeking to acquire the luxury hotels and leisure-club operator is 10% backed by Microsoft Corp. chairman Bill Gates, while Lowe Enterprises has 25% and LF Strategic Realty Investors with 65%. Goldman Sachs, which along with Westmont Development Inc. made a bid, is to have an offer that would top the agreed bid from the consortium. However, Cliveden said it was encouraging shareholders to support the offer by Destinations Europe.

Comment:

Backs offer to be purchased by consortium Destinations Europe for $70.1 million after rival bidders dropped their offer

United Kingdom, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Hotels and motels, Cliveden PLC

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Siemen's plan to sell facilties to Acer collapses

Article Abstract:

Siemens AG of Germany has announced a collapse of discussions concerning a possible sale of its computer production facilities to Acer Inc. The termination of negotiations, initiated in April 1998, dealt a blow to a restructuring of the personal-computer division of Siemens. Acer of Taiwan would have made personal computers under the Siemens brand under the agreement, which would also increased its capacity by 25% and enable reduction of production costs. Siemens' spokesperson said Acer tried to change the price and payment terms of the transaction due to financial crises in Asia and Russia.

Comment:

Sees collapse of discussions concerning a possible acquisition of computer production facilities from Siemens

Electronic Computer Manufacturing, Diversified Companies, Acquisitions & mergers, Germany, Computers & Auxiliary Equip, Facilities & equipment, Siemens AG, Acer Inc.

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