Converium files lawsuit to fend off Scor's bid

Article Abstract:

Swiss insurance company Converium Holding Ltd. has filed a suit in the US to thwart a hostile takeover bid from French reinsurer Scor S.A. Scor's $2.55 bil offer was rejected by Converium in February. The lawsuit alleges that Scor failed to present the bid to Converium's American shareholders.

United States, Legal issues & crime, Acquisitions & mergers, Financial management, INSURANCE CARRIERS, Legal/Government Regulation, Company legal issue, Cases, Mergers, acquisitions and divestments, France, Company acquisition/merger, Insurance industry, Investor relations, Scor S.A., Company business planning, Converium Holding Ltd.

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Richemont sales show strength in luxury goods

Article Abstract:

Fiscal first-half net profit for Swiss luxury goods firm Cie. Financiere Richemont increased 28% to reach $1.2 bil, due primarily to emerging markets growth and improved sales in its high-end watch business. Overall sales rose 11%, while revenue in the watches division rose 18%.

Sales, profits & dividends, Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Financial services industry, Company sales and earnings, Company earnings/profit, Financial report

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Richemont to keep stake in BAT

Article Abstract:

Compagnie Financiere Richemont SA is expected to keep its 21.2% share in British American Tobacco PLC. Richemont will probably keep its share despite a court ruling that imposes a $3 billion fine on Philip Morris Cos.

United Kingdom, TOBACCO PRODUCTS, Tobacco Manufacturing, Management, Tobacco industry, British American Tobacco PLC

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