Morgan Grenfell locks up Holvis for BBA

Article Abstract:

Engineering group BBA of the United Kingdom is expected to succeed with its cash offer of 500 Swiss Francs per share for the acquisition of paper distribution and non-wovens group Holvis of Switzerland. The hostile acquisition bid by paper group International Paper (IP) of the United States is not expected to win, despite IP already owning 31% of the company. Holvis' non-wovens operation Fiberweb has been the subject of a lock-up. IP was primarily interested in the non-wovens business. Merchant bank Morgan Grenfell of the United Kingdom is advising BBA.

Paper, Paper Mills, Nonwoven Fabrics, BBA Group PLC, Morgan Grenfell and Company Ltd.

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Morgan Stanley produces InterTech bid for Holvis

Article Abstract:

InterTech of the United States, producer of materials for golf balls, disposable sanitary products and nappies, has launched a rival acquisition bid for paper and non-wovens distribution group Holvis of Switzerland. The bid will be for around 500 Swiss Francs per share or more, equivalent to a total offer of around 443 million Swiss Francs. The bid competes with the 435 Swiss Francs per share hostile takeover bid previously made by International Paper (IP). IP is being advised by CS First Boston and InterTech is being advised by Morgan Stanley.

Paper & Allied Products, Paper Manufacturing, Morgan Stanley Group Inc., CS First Boston Group Inc., InterTech Group Inc.

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Holvis struggles to arrange counter bid

Article Abstract:

International Paper (IP) of the United States has made a 385 million Swiss Franc hostile takeover bid for distribution and nonwovens group Holvis of Switzerland. IP could succeed with the acquisition despite Holvis' rejection of the bid as Mercury Asset Management of the United Kingdom has already pledged its 31% stake in the firm. It is the first time a hostile takeover has been sought in Switzerland. Holvis is seeking a counter offer from other potential buyers, with a sell-off now inevitable. Morgan Stanley is acting as advisor.

Professional and Commercial Equipment and Supplies Wholesalers, Business & Commercial Eqp Whsle, Securities, Distributors (Commerce), Mercury Asset Management PLC

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