French meddling forces Elf's hand in TotalFina fight

Article Abstract:

France's Elf Aquitaine SA has made a 50 billion Euro dollars acquisition counterbid for TotalFina SA. The counterbid, which came following the French government's support for TotalFina's earlier hostile bid for Elf, was made as a defensive move to ward off the hostile takeover attempt. Industry analysts have said that European governments are notorious for meddling in merger agreements. They cite Norway's recent interference in halting Elf's acquisition of Saga Petroleum.

Petroleum, Petroleum and Coal Products Manufacturing, Petroleum industry, TOTAL S.A., Elf Aquitaine S.A.

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SES reaches deal to acquire GE satellite operations in U.S

Article Abstract:

Luxembourg's Societe Europeenne des Satellites S.A. (SES) agreed to purchase the satellite-services unit of General Electric Co. for $5 billion (Euro5.58 billion) in cash and stock. SES will gaining an established platform in the U.S. from which to go after the broadband and Internet-access sectors.

United States, Foreign operations, General Electric Co., GE, Societe Europeenne des Satellites S.A.

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French appeals court annuls Schneider's bid for Legrand

Article Abstract:

Schneider Electric SA's planned acquisition of Legrand SA has been annulled by an appeals court in France. The friendly takeover offer stood at 7.2 billion euros.

Schneider Electric S.A., Legrand S.A.

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