Stahl's latest VAE bid falls short of expectations

Article Abstract:

VA Stahl AG, a steelmaker based in Austria, raised its bid for control of VAE AG, an Austrian manufacturer of points and switches, by offering 1,700 schillings or US$132.92 for each VAE share. The bid was 11% below the maximum 1,920 schillings that the firm previously announced it might bid and 7% below VAE's closing share price of 1,835 schillings in Vienna at Jun. 16, 1998. The price, however, is still at a premium of over 11% on an original offer by French-based De Dietrich & Cie SA at 2.38 billion schillings which has been described as unfriendly by VAE management. The move is a rare occurrence in Austria where most of the nation's leading firms are effectively shielded from takeovers through golden shares held by its government or foundations.

Comment:

Raises its bid for control of points and switch manufacturer VAE AG by offering 1,700 schillings for each VAE share

Asset sales & divestitures, Austria, Switchgear and Switchboard Apparatus Manufacturing, Switches, Steel Foundries (except Investment), Steel Castings, VA Stahl AG, VAE AG, Article

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Norilsk net surged in '06; LionOre supports buyout

Article Abstract:

Full-year net profit for Russia's Norilsk Nickel reached $5.99 bil in 2006, with revenue rising to $11.55 bil and operating profit to $7.17 bil. The board of Canadian mining company LionOre Mining International Ltd. is recommending Norilsk's takeover offer of $6.36 bil.

Strategy & planning, Primary nonferrous metals, not elsewhere classified, Ferroalloy ores, except vanadium, Planning, Canada, Mergers, acquisitions and divestments, Company acquisition/merger, Company business planning, Nickel industry, LionOre Mining International Ltd.

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Norilsk Nickel profit jumps 60% on record prices

Article Abstract:

First-half net profit for Russian mining company Norilsk Nickel increased by 60% to reach $3.79 bil, driven by record highs for global nickel prices. Metal sales revenue increased 82% to reach $7.65 bil.

Primary Nonferrous Metals, Metal ores, not elsewhere classified, Nonferrous metal industry, Nonferrous metal industries

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