Punch to launch a hostile bid for pub chain

Article Abstract:

Punch Tavern Ltd. announced that it would make a hostile takeover offer for the pub chain of Allied Domecq PLC. The decision comes after Allied Domecq rejected Punch's bid and recommended a rival offer from Whitbread PLC. Punch said it would directly make an offer of 2.7 billion pound sterling (4.16 billion euros) to Allied's stockholders. Punch will try to convince the shareholders to accept its bid and reject Whitbread's all-share bid of 2.4 billion pound sterling.

Comment:

Punch to make hostile takeover offer for pub chain of Allied Domecq

Asset sales & divestitures, Drinking Places, Drinking Places (Alcoholic Beverages), Bars, saloons, etc., Bars (Drinking establishments), Allied Domecq PLC, Punch Tavern Ltd.

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British court allows B.A. T., Zurich merger

Article Abstract:

A proposed merger between BAT Industries PLC and Zurich Group of Switzerland has been approved by a high court in Great Britain. BAT is planning to merge its financial services division with Zurich Group. The company is also proposing to spin off its tobacco operations. Blue Cross & Blue Shield of America had registered opposition to the deal, claiming that it would prevent it from winning policy holder compensation from US tobacco litigation cases.

Comment:

Proposed merger between BAT Industries PLC and Zurich Group of Switzerland approved by a high court in Great Britain

Residential Buildings, Residential Building Construction, Switzerland, Financial Services, Finance and Insurance, Residential construction, B.A.T. Industries PLC, Zurich Group PLC, Article

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Hellenic agrees to bottling deal with Coke unit

Article Abstract:

Hellenic Bottling SA has reached a merger agreement with Coca-Cola Beverages PLC. The deal will form a major bottling entity in the European market. It will also form the second-largest bottling company globally within Coca-Cola's system. The merger is valued at $3 billion (2.85 billion euros). However, both companies acknowledged that recent European events, such as the Kosovo war, have hurt their sales.

Greece, Foreign operations, Canned & Bottled Soft Drinks, Soft Drink Manufacturing, Soft drinks, Soft drink industry, Coca-Cola Beverages PLC, Hellenic Bottling Company S.A.

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