Retailer Kingfisher joins Scottish media in bidding for video publisher

Article Abstract:

Kingfisher PLC has apparently jeopardized Scottish Media Group PLC's chances of acquiring video publisher VCI PLC when it offered a higher bid for the latter. The retailer offered 46.8 million pounds sterling, or $78.7 million, which is higher than the bid of 31 million pounds sterling, or 49.5 pence for share offered by television company Scottish Media to VCI on Sep. 7, 1998. According to Kingfisher, the higher offer was made to discourage Scottish Media from putting forward an enhanced bid. Kingfisher also made the offer because it believes VCI can play an essential part in expanding its home-entertainment business.

Comment:

Has apparently jeopardized Scottish Media Group PLC's chances of buying VCI PLC when it offered a higher bid for the latter

General Merchandise Stores, Motion Picture and Video Distribution, Video Repackagers, Retail stores, Kingfisher PLC, Video distributors, VCI PLC

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Morgan Crucible says it wants to sell two of its divisions

Article Abstract:

Morgan Crucible Co. of the UK is selling its chemicals and electro-optics divisions to focus on its core business of carbon and ceramics. The chemicals and electro-optics businesses, which account for 20% of the company's total sales, are being sold because they have dimmer growth prospects than the company's main business, said analysts. The divisions, which have a combined work force of 2,000 people, are expected to sell for about 200 million pound-sterling ($334.6 million). The decision to sell the divisions was made following a review of the company's operations.

Comment:

Is selling its chemicals and electro-optics divisions to focus on its core business of carbon and ceramics

Semiconductor and Related Device Manufacturing, Chemicals & Allied Products, Chemical Manufacturing, Optoelectronic Devices, Chemicals, Morgan Crucible Company PLC

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Servisair's investors await better offer

Article Abstract:

Servisair PLC's institutional investors will keep control of their stocks up to the last few days before the expiration of a hostile offer by Amey PLC. Amey is making a 81.5 million pound sterling ($130.9 million) bid to takeover Servisair, a cargo handling firm. Several Servisair's shareholders said that they would hold onto their stock in the hope that a higher offer will be submitted before Amey's final-offer deadline, which is on March 23, 1999.

Comment:

Servisair investors to keep control of their stocks up to last few days before expiration of hostile offer by Amey

Scheduled Air Transportation, Stockholder data, Air transportation, scheduled, Air Cargo Service, Planning, Mergers, acquisitions and divestments, Abstract, Air freight, Air freight services, Servisair PLC, Amey PLC

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