SBC continues to annoy staider rivals

Article Abstract:

Swiss Bank Corporation (SBC) has achieved a healthy number of contracts, including Trafalgar House which is bidding for Northern Electric. Other clients include Elsevier, John Labatt, Inversiones Ibersuizas, and Cragnotti and Partners. SBC has been criticised over its involvement in UK electric utilities such as the acquisition of a stake of 8% in Yorkshire Electric which was not revealed due to a market-making exemption. SBC was instructed to acquire shares in UK electric utilities by Trafalgar House prior to the bid for Northern, which pushed up the share price of those utilities.

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Benetton snaps up food retailers

Article Abstract:

Edizione Holding has acquired two food retailers, Euromercato and GS-Autogrill. Bank loans will be used to fund these two acquisitions. The GS supermarkets and hypermarkets owned by Euromercato will have a combined turnover of more than 4,000 billion Italian lira, and the new group will rank third among Italian retailers. There are no major retail acquisitions open to foreign retailers, which may focus on the discount segment, since this has great potential and fewer bureaucratic barriers.

Hypermarkets, Warehouse Clubs and Superstores, Supermarkets and Other Grocery (except Convenience) Stores, Grocery stores, Supermarket Chains, Variety stores, Retail industry, Retail trade, Superstores, Edizione Holdings S.p.A., Euromercato S.p.A., GS-Autogrill

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Will Glaxo Wellcome make sales

Article Abstract:

Glaxo has made a bid for Wellcome which would create the largest drugs company world-wide. The new company, Glaxo Wellcome, may dispose of some non-core activities. Glaxo would have to issue new shares if the offer is fully accepted, and would have to make a cash payment of some 6.3 billion pounds sterling. The planned merger will provide opportunities for reducing costs especially in research, marketing and sales. Total savings of up to 600 million pounds annually could be achieved.

Glaxo

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