El Corte Ingles favourite for Galerias Preciados

Article Abstract:

Retailer El Corte Ingles of Spain has made a $317.5 million acquisition bid for retail chain Galerias Preciados of Spain in competition with a bid by Spanish businessman Jose Luis Dominguez and British entrepreneur Alan Sugar. Union Bank of Switzerland, advisor to the government for the sale, is surprised by El Corte's bid which is twice as high as any other offers. Galerias Preciados had financial losses of 12.6 billion pesetas in 1994 due to a lack of corporate strategy. The Spanish government is believed to have offered a 20 billion pesetas soft loan to make the takeover more appealing.

Mergers, acquisitions and divestments, Services, Investments, Union Bank of Switzerland, Sugar, Alan, Dominguez, Jose Luis, El Corte Ingles S.A., Galerias Preciados S.A.

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Pills and pens: Boots and W.H. Smith

Article Abstract:

Boots the Chemist and W.H. Smith are both being squeezed by competition that is becoming increasingly specialized and diversified. Supermarkets have expanded into toiletries, newspapers, magazines, and books. Bookstores, stationery stores, and other specialty stores are also gaining market share.

Market share, WH Smith Group PLC, Boots The Chemists Ltd.

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No mud on their boots: Iowa

Article Abstract:

Des Moines, IA, has a healthy economy because the area has diversified and now has a large service sector in addition to agricultural interests. Government agencies, financial services and the insurance industry account for most of the city's jobs.

Insurance industry, Iowa, Des Moines, Iowa

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