Scottish Media offers $52.1 million for VCI

Article Abstract:

Scottish Media Group PLC of Scotland has made an offer valued at $52.1 million to purchase VCI PLC, or 80 pence a share of the independent video publishing firm. The newspaper and television group secured 18.1% of the shares of its target for 80 pence each, with VCI agreeing to the offer. Scottish project earnings in 1998 will be bolstered by the purchase, as well as boost efforts to grow outside Scotland and expand its entertainment and information offerings. Scottish announced the bid as the company reported that its pretax profit grew to 27 million pounds sterling for the period ended June 30, 1998.

Comment:

Makes an offer valued at $52.1 million to purchase VCI PLC, or 80 pence a share of the independent video publishing firm

Asset sales & divestitures, Newspapers, Newspaper Publishers, Services for Movie, TV Production, Postproduction and Other Motion Picture and Video Industries, Newspaper publishing, Scottish Media Group PLC, Article, VCI PLC

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Mannesmann chief offers to talk to Vodafone head

Article Abstract:

Klaus Esser, Mannesmann AG's CEO, rejected a takeover offer by Vodafone AirTouch PLC for the second time. Although he did agree to meet with Vodafone chief Chris Gent, and said that an equal partnership merger is preferable to a hostile takeover bid, Esser predicted that they wouldn't have much to discuss, and claimed to have shareholders' support in his decision to decline the Vodafone deal.

Diversified Companies, Germany, Cellular Mobile Radio Services, Cellular and Other Wireless Telecommunications, Statistical Data Included, Cellular telephone services industry, Cellular telephone services, Brief Article, Mannesmann AG, Vodafone AirTouch PLC

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Siemens reviews number of offers for its auto unit

Article Abstract:

Siemens VDO Automotive is on the block by parent company Siemens AG of Germany. The automotive electronics manufacturer is valued at 7 billion Euros to 9 billion Euros ($9.19 billion to $11.81 billion).

ELECTRONIC & OTHER ELECTRIC EQUIPMENT, Capital funds & cash flow, United States, Company acquisition/merger, Electronics industry, Valuation, Financial report, Siemens Automotive Corp.

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