Cooper Group surrenders to Wassall in takeover bid showdown for TLG

Article Abstract:

Cooper Group PLC of the UK has conceded in the competition for the control of UK-based TLG PLC after initiating the bidding with an agreed $2.71 a share cash offer. Cooper said its bid for the lighting products group lapsed after obtaining acceptances for only 0.74% of TLG's shares in addition to the 8.3% it bought from the market. Cooper president and CEO H. John Riley said that the firm decided a higher offer for the target entity would not provide the return projected for its shareholders. TLG recommended company shareholders accept an offer from Wassall PLC, which offered 175 pence a share for TLG.

Comment:

Concedes in competition for the control of TLG PLC after initiating the bidding with an agreed $2.71 a share cash offer

Cutlery and Handtool Manufacturing, Cutlery, Hand Tools & Hardware, Article, TLG PLC, Cooper Group PLC

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English China Clays rebuffs Imetal bid

Article Abstract:

UK-based English China Clays PLC has rejected an acquisition bid from France's Imetal SA. The cash bid, which had valued English China at US $1.12 billion, was rejected because English China officials believed that it represented an undervaluation of the UK firm. Industry analysts, which have said that the merger would have created the world's dominant maker of white pigments, noted that the deal would have been the largest acquisition in Imetal's corporate history.

Asset sales & divestitures, France, NONMETALLIC MINERALS, EXCEPT FUELS, Nonmetal Mining, Nonmetallic Mineral Mining and Quarrying, Mining industry, Mineral industry, English China Clays PLC, Imetal SA

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InphoMatch Mobileway to merge

Article Abstract:

Mobile messaging companies InphoMatch Inc. of the U.S. and Britain's MobileW ay Inc. will merge to provide mobile messaging services, content, and networks to a global market. The combined company will be based in Virginia and its management team will consist of executives from both companies.

Executive changes & profiles, Planning, Officials and employees, Company acquisition/merger, Wireless communications services, Wireless communication systems, Company business planning, Wireless voice/data service, InphoMatch, MobileWay Inc.

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